Axsome Therapeutics (NASDAQ:AXSM) Hits New 12-Month High at $30.55

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Axsome Therapeutics Inc (NASDAQ:AXSM)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $30.55 and last traded at $30.43, with a volume of 1809462 shares traded. The stock had previously closed at $27.47.

AXSM has been the topic of several recent research reports. BidaskClub raised shares of Axsome Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, October 26th. ValuEngine raised shares of Axsome Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, November 1st. William Blair initiated coverage on shares of Axsome Therapeutics in a report on Wednesday, September 18th. They issued an “outperform” rating and a $48.00 price objective on the stock. Guggenheim initiated coverage on shares of Axsome Therapeutics in a report on Wednesday, October 16th. They issued a “buy” rating and a $48.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Axsome Therapeutics has a consensus rating of “Buy” and an average target price of $35.13.

The firm’s fifty day moving average price is $22.37 and its 200 day moving average price is $24.00. The firm has a market capitalization of $955.20 million, a PE ratio of -26.46 and a beta of 2.61. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 2.80.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.15). On average, analysts predict that Axsome Therapeutics Inc will post -1.7 earnings per share for the current year.

In other Axsome Therapeutics news, CFO Nick Pizzie acquired 2,180 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were acquired at an average cost of $24.80 per share, with a total value of $54,064.00. Following the acquisition, the chief financial officer now directly owns 40,440 shares of the company’s stock, valued at $1,002,912. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 27.50% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can acquired a new position in shares of Axsome Therapeutics in the 2nd quarter valued at $52,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Axsome Therapeutics in the 2nd quarter valued at $72,000. Schroder Investment Management Group acquired a new position in shares of Axsome Therapeutics in the 2nd quarter valued at $76,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Axsome Therapeutics by 41.2% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,800 shares of the company’s stock valued at $124,000 after purchasing an additional 1,400 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Axsome Therapeutics in the 2nd quarter valued at $167,000. Hedge funds and other institutional investors own 54.02% of the company’s stock.

About Axsome Therapeutics (NASDAQ:AXSM)

Axsome Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in developing novel therapies for central nervous system (CNS) disorders in the United States. Its product pipeline includes AXS-05, which is in the Phase III clinical trial for the treatment resistant depression; Phase II/III clinical trials in agitation associated with Alzheimer's disease; and Phase II clinical trial for the treatment of smoking cessation, as well as for major depressive disorder.

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