Axsome Therapeutics, Inc. (NASDAQ:AXSM) Sees Large Decline in Short Interest

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. HC Wainwright boosted their target price on Axsome Therapeutics from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Friday. Robert W. Baird boosted their price objective on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $121.00 target price on shares of Axsome Therapeutics in a report on Thursday, December 12th. Finally, Mizuho boosted their price target on shares of Axsome Therapeutics from $122.00 to $137.00 and gave the company an “outperform” rating in a research report on Monday. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $134.00.

Institutional Investors Weigh In On Axsome Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. FMR LLC increased its position in shares of Axsome Therapeutics by 20.6% during the third quarter. FMR LLC now owns 1,088,087 shares of the company’s stock worth $97,786,000 after acquiring an additional 185,951 shares during the period. Geode Capital Management LLC grew its stake in Axsome Therapeutics by 2.7% during 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. Wellington Management Group LLP increased its holdings in Axsome Therapeutics by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock worth $66,750,000 after purchasing an additional 8,125 shares during the period. Charles Schwab Investment Management Inc. raised its position in Axsome Therapeutics by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 322,596 shares of the company’s stock valued at $28,992,000 after purchasing an additional 12,778 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in shares of Axsome Therapeutics by 11.0% in the 3rd quarter. Loomis Sayles & Co. L P now owns 298,586 shares of the company’s stock valued at $26,834,000 after buying an additional 29,497 shares during the period. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Axsome Therapeutics Trading Up 0.9 %

Shares of AXSM traded up $0.97 during trading on Monday, reaching $107.43. 964,411 shares of the company traded hands, compared to its average volume of 988,510. Axsome Therapeutics has a twelve month low of $64.11 and a twelve month high of $111.51. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. The stock has a 50-day simple moving average of $93.57 and a 200-day simple moving average of $90.90. The stock has a market cap of $5.21 billion, a PE ratio of -16.45 and a beta of 1.05.

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

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.