Axsome Therapeutics Inc (NASDAQ:AXSM) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 1,230,670 shares, an increase of 39.2% from the October 15th total of 883,998 shares. Approximately 7.2% of the company’s stock are sold short. Based on an average trading volume of 447,020 shares, the days-to-cover ratio is currently 2.8 days.
An institutional investor recently raised its position in Axsome Therapeutics stock. Alethea Capital Management LLC grew its position in Axsome Therapeutics Inc (NASDAQ:AXSM) by 132.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 270,823 shares of the company’s stock after acquiring an additional 154,323 shares during the period. Axsome Therapeutics comprises 1.5% of Alethea Capital Management LLC’s portfolio, making the stock its 12th largest holding. Alethea Capital Management LLC owned 1.05% of Axsome Therapeutics worth $867,000 at the end of the most recent quarter. 16.70% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AXSM stock opened at $3.87 on Friday. Axsome Therapeutics has a 12 month low of $2.05 and a 12 month high of $5.95. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.26 and a current ratio of 2.26. The company has a market cap of $101.60 million, a price-to-earnings ratio of -3.12 and a beta of -0.51.
Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Wednesday, August 8th. The company reported ($0.32) EPS for the quarter, meeting the consensus estimate of ($0.32). On average, sell-side analysts anticipate that Axsome Therapeutics will post -1.12 earnings per share for the current fiscal year.
Several equities analysts have commented on the company. ValuEngine upgraded Axsome Therapeutics from a “hold” rating to a “buy” rating in a report on Wednesday. LADENBURG THALM/SH SH set a $5.00 price target on Axsome Therapeutics and gave the company a “buy” rating in a report on Wednesday, October 17th. Zacks Investment Research upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, July 25th. Finally, HC Wainwright set a $10.00 price target on Axsome Therapeutics and gave the company a “buy” rating in a report on Tuesday, October 9th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Axsome Therapeutics presently has a consensus rating of “Buy” and an average price target of $10.10.
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Axsome Therapeutics Company Profile
Axsome Therapeutics, Inc, a clinical stage biopharmaceutical company, is developing novel therapies for central nervous system (CNS) disorders. Its product candidate portfolio includes AXS-05, AXS-09, AXS-02, AXS-07, and AXS-06. AXS-05 is in the Phase III clinical trial in treatment resistant depression and in agitation associated with Alzheimer's disease, as well as in the Phase II clinical trial for smoking cessation.
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