Axsome Therapeutics (NASDAQ:AXSM) Shares Gap Up to $37.11

Axsome Therapeutics, Inc. (NASDAQ:AXSMGet Rating) gapped up before the market opened on Wednesday . The stock had previously closed at $37.11, but opened at $38.85. Axsome Therapeutics shares last traded at $38.96, with a volume of 586 shares traded.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Cantor Fitzgerald boosted their price objective on Axsome Therapeutics from $47.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 29th. Morgan Stanley boosted their price objective on Axsome Therapeutics from $27.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Friday, July 8th. Cowen boosted their price objective on Axsome Therapeutics from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 29th. Mizuho lowered their price objective on Axsome Therapeutics from $51.00 to $49.00 in a research note on Tuesday, May 3rd. Finally, Cowen upped their price target on Axsome Therapeutics from $120.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.90.

Axsome Therapeutics Trading Up 5.1 %

The company has a 50 day moving average of $33.88 and a 200-day moving average of $32.86. The company has a debt-to-equity ratio of 3.36, a quick ratio of 3.54 and a current ratio of 3.54. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of -10.76 and a beta of 1.92.

Axsome Therapeutics (NASDAQ:AXSMGet Rating) last issued its quarterly earnings results on Monday, May 2nd. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.01). During the same period in the prior year, the firm posted ($0.78) earnings per share. On average, research analysts anticipate that Axsome Therapeutics, Inc. will post -3.99 earnings per share for the current year.

Institutional Investors Weigh In On Axsome Therapeutics

Large investors have recently bought and sold shares of the stock. Captrust Financial Advisors increased its holdings in Axsome Therapeutics by 582.0% during the 1st quarter. Captrust Financial Advisors now owns 757 shares of the company’s stock worth $31,000 after purchasing an additional 646 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Axsome Therapeutics by 208.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 888 shares of the company’s stock valued at $34,000 after acquiring an additional 600 shares during the last quarter. Tortoise Investment Management LLC purchased a new position in shares of Axsome Therapeutics in the 4th quarter valued at about $49,000. Atticus Wealth Management LLC increased its holdings in shares of Axsome Therapeutics by 33.3% in the 1st quarter. Atticus Wealth Management LLC now owns 1,200 shares of the company’s stock valued at $50,000 after acquiring an additional 300 shares during the last quarter. Finally, Clearstead Advisors LLC increased its holdings in shares of Axsome Therapeutics by 28.6% in the 1st quarter. Clearstead Advisors LLC now owns 1,350 shares of the company’s stock valued at $56,000 after acquiring an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 48.46% of the company’s stock.

About Axsome Therapeutics

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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 product pipeline includes AXS-05, a therapeutic for the treatment of major depressive disorder and resistant depression disorders; and that is in the Phase III clinical trial to treat Alzheimer's disease agitation, as well as that has completed phase II clinical trial for the treatment of smoking cessation.

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