Axsome Therapeutics (NASDAQ:AXSM) Rating Increased to Strong-Buy at Cantor Fitzgerald

Axsome Therapeutics (NASDAQ:AXSM) was upgraded by Cantor Fitzgerald to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

AXSM has been the topic of a number of other reports. Mizuho raised their price target on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the company an “outperform” rating in a research note on Thursday, March 27th. Jefferies Financial Group initiated coverage on shares of Axsome Therapeutics in a research note on Monday, April 7th. They issued a “buy” rating and a $200.00 price target for the company. Morgan Stanley boosted their price target on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Wells Fargo & Company restated an “overweight” rating and issued a $165.00 price objective (up from $160.00) on shares of Axsome Therapeutics in a research note on Tuesday, May 6th. Finally, Robert W. Baird increased their price target on shares of Axsome Therapeutics from $160.00 to $162.00 and gave the stock an “outperform” rating in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Axsome Therapeutics has an average rating of “Buy” and a consensus price target of $172.14.

Axsome Therapeutics Stock Performance

Shares of NASDAQ:AXSM opened at $107.22 on Wednesday. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of -17.90 and a beta of 0.46. Axsome Therapeutics has a 52 week low of $64.11 and a 52 week high of $139.13. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. The firm has a 50 day moving average of $110.73 and a 200 day moving average of $104.96.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The firm had revenue of $118.77 million for the quarter, compared to analyst estimates of $117.83 million. On average, sell-side analysts predict that Axsome Therapeutics will post -2.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Axsome Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Birchview Capital LP raised its stake in shares of Axsome Therapeutics by 50.0% in the 1st quarter. Birchview Capital LP now owns 6,000 shares of the company’s stock valued at $700,000 after acquiring an additional 2,000 shares during the period. PDT Partners LLC raised its position in shares of Axsome Therapeutics by 1,120.5% during the 1st quarter. PDT Partners LLC now owns 51,199 shares of the company’s stock worth $5,971,000 after buying an additional 47,004 shares in the last quarter. Quarry LP raised its holdings in shares of Axsome Therapeutics by 86.7% in the 1st quarter. Quarry LP now owns 1,400 shares of the company’s stock worth $163,000 after purchasing an additional 650 shares in the last quarter. Twin Tree Management LP bought a new stake in shares of Axsome Therapeutics in the 1st quarter worth approximately $116,000. Finally, Vident Advisory LLC purchased a new position in Axsome Therapeutics during the first quarter valued at approximately $360,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

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.