Axsome Therapeutics, Inc. (NASDAQ:AXSM) Short Interest Update

Axsome Therapeutics, Inc. (NASDAQ:AXSM) was the target of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 6,520,000 shares, a decrease of 7.9% from the November 30th total of 7,080,000 shares. Based on an average daily volume of 488,200 shares, the days-to-cover ratio is currently 13.4 days.

Institutional Trading of Axsome Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its stake in shares of Axsome Therapeutics by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock worth $19,062,000 after purchasing an additional 27,534 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Axsome Therapeutics by 47.5% during the 3rd quarter. Franklin Resources Inc. now owns 160,534 shares of the company’s stock valued at $13,713,000 after buying an additional 51,696 shares during the period. Geode Capital Management LLC lifted its position 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 acquiring an additional 23,564 shares in the last quarter. Barclays PLC boosted its holdings in Axsome Therapeutics by 279.6% in the 3rd quarter. Barclays PLC now owns 61,785 shares of the company’s stock worth $5,552,000 after acquiring an additional 45,509 shares during the period. Finally, Wellington Management Group LLP grew its position in Axsome Therapeutics by 1.1% in the third quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock valued at $66,750,000 after acquiring an additional 8,125 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on AXSM shares. Wells Fargo & Company initiated coverage on Axsome Therapeutics in a research report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $121.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Mizuho decreased their price objective on Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating on the stock in a research note on Tuesday. Robert W. Baird boosted their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada raised their price target on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $127.07.

Axsome Therapeutics Trading Down 0.2 %

Shares of NASDAQ:AXSM traded down $0.17 during trading on Wednesday, reaching $84.61. 1,088,316 shares of the stock were exchanged, compared to its average volume of 623,040. The firm’s 50-day moving average price is $92.95 and its 200 day moving average price is $88.72. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of -12.96 and a beta of 1.18. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $105.00. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The company had revenue of $104.76 million during the quarter, compared to the consensus estimate of $98.71 million. During the same period in the previous year, the firm earned ($1.32) earnings per share. On average, sell-side analysts anticipate that Axsome Therapeutics will post -4.6 earnings per share for the current fiscal year.

About Axsome Therapeutics

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.