Axsome Therapeutics, Inc. (NASDAQ:AXSM) Sees Significant Drop in Short Interest

Axsome Therapeutics, Inc. (NASDAQ:AXSM) saw a significant drop in short interest in January. As of January 15th, there was short interest totalling 5,750,000 shares, a drop of 13.1% from the December 31st total of 6,620,000 shares. Based on an average daily trading volume, of 691,000 shares, the short-interest ratio is currently 8.3 days.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock traded up $0.97 on Monday, reaching $107.43. 964,411 shares of the stock were exchanged, compared to its average volume of 988,510. The firm has a market capitalization of $5.21 billion, a PE ratio of -16.45 and a beta of 1.05. Axsome Therapeutics has a 1-year low of $64.11 and a 1-year high of $111.51. The business has a fifty day moving average price of $93.57 and a two-hundred day moving average price of $90.90. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.04. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The business had revenue of $104.76 million during the quarter, compared to the consensus estimate of $98.71 million. During the same period in the prior year, the business posted ($1.32) EPS. As a group, research analysts anticipate that Axsome Therapeutics will post -4.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on AXSM. William Blair reaffirmed an “outperform” rating on shares of Axsome Therapeutics in a report on Friday, January 24th. Mizuho upped their target price on shares of Axsome Therapeutics from $122.00 to $137.00 and gave the company an “outperform” rating in a report on Monday. Truist Financial lifted their price target on shares of Axsome Therapeutics from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday. HC Wainwright upped their price objective on shares of Axsome Therapeutics from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Friday. Finally, StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $134.00.

Hedge Funds Weigh In On Axsome Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Axsome Therapeutics during the 2nd quarter worth $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Axsome Therapeutics during the second quarter worth about $47,000. R Squared Ltd purchased a new stake in shares of Axsome Therapeutics in the fourth quarter valued at about $64,000. KBC Group NV grew its position in shares of Axsome Therapeutics by 40.5% in the fourth quarter. KBC Group NV now owns 1,336 shares of the company’s stock valued at $113,000 after purchasing an additional 385 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Axsome Therapeutics by 22.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock worth $156,000 after purchasing an additional 318 shares in the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

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.