HC Wainwright Reaffirms “Buy” Rating for Axsome Therapeutics (NASDAQ:AXSM)

HC Wainwright reissued their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a $180.00 price objective on the stock. HC Wainwright also issued estimates for Axsome Therapeutics’ Q4 2024 earnings at ($0.94) EPS, FY2024 earnings at ($4.60) EPS, Q1 2025 earnings at ($0.81) EPS, Q2 2025 earnings at ($0.44) EPS, Q3 2025 earnings at $0.03 EPS, Q4 2025 earnings at $0.79 EPS and FY2025 earnings at ($0.41) EPS.

Several other brokerages have also commented on AXSM. Cantor Fitzgerald restated an “overweight” rating and set a $107.00 target price on shares of Axsome Therapeutics in a research report on Monday, September 16th. StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Royal Bank of Canada lifted their price objective on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Wells Fargo & Company initiated coverage on shares of Axsome Therapeutics in a research note on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 target price on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $130.00 price target on shares of Axsome Therapeutics in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Axsome Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $124.93.

Axsome Therapeutics Stock Up 2.7 %

Shares of NASDAQ AXSM opened at $99.65 on Monday. Axsome Therapeutics has a 52-week low of $64.11 and a 52-week high of $105.00. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. The company’s 50 day moving average price is $91.48 and its 200-day moving average price is $85.67. The company has a market capitalization of $4.83 billion, a P/E ratio of -15.26 and a beta of 1.26.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The business had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. During the same quarter in the previous year, the business earned ($1.32) earnings per share. Equities analysts forecast that Axsome Therapeutics will post -4.75 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Mark E. Saad sold 11,016 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the transaction, the director now owns 10,002 shares of the company’s stock, valued at $913,282.62. The trade was a 52.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 22.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Several large investors have recently bought and sold shares of the stock. Franklin Resources Inc. grew its stake in shares of Axsome Therapeutics by 47.5% in the 3rd quarter. Franklin Resources Inc. now owns 160,534 shares of the company’s stock worth $13,713,000 after acquiring an additional 51,696 shares in the last quarter. Geode Capital Management LLC grew its position in Axsome Therapeutics by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 908,459 shares of the company’s stock worth $81,659,000 after purchasing an additional 23,564 shares in the last quarter. Barclays PLC grew its position in Axsome Therapeutics by 279.6% in the 3rd quarter. Barclays PLC now owns 61,785 shares of the company’s stock worth $5,552,000 after purchasing an additional 45,509 shares in the last quarter. Wellington Management Group LLP increased its stake in Axsome Therapeutics by 1.1% in the 3rd quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock valued at $66,750,000 after buying an additional 8,125 shares during the last quarter. Finally, Iron Triangle Partners LP bought a new position in shares of Axsome Therapeutics during the 3rd quarter worth approximately $22,671,000. 81.49% of the stock is currently owned by institutional investors.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company’s commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.