Axsome Therapeutics (NASDAQ:AXSM) stock price rose 14.9% following analyst upgrade

Axsome Therapeutics, Inc. (NASDAQ: AXSM – Get a rating) The stock price rose 14.9% in Tuesday’s trading after Jefferies Financial Group raised its price target on the stock from $71.00 to $77.00. Jefferies Financial Group currently has a buy rating on the stock. Axsome Therapeutics traded as high as $40.79 and last traded at $40.33. Approximately 30,154 shares were traded during trading, a 95% decline from the average daily volume of 664,811 shares. The stock previously closed at $35.11.

Several other analysts have also published reports on AXSM. SVB Leerink reduced its price target on Axsome Therapeutics from $65.00 to $50.00 and set an “outperform” rating for the company in a Wednesday, March 2 report. Zacks Investment Research downgraded Axsome Therapeutics from a “buy” rating to a “hold” rating and set a price target of $32.00 for the company. in a report on Friday, March 4. Two equity research analysts gave the stock a hold rating and nine gave the stock a buy rating. According to data from MarketBeat, Axsome Therapeutics currently has an average rating of “Buy” and an average price target of $80.78.

Several hedge funds and other institutional investors have recently increased or reduced their stake in the company. BlackRock Inc. increased its stake in shares of Axsome Therapeutics by 2.0% in the fourth quarter. BlackRock Inc. now owns 2,109,622 shares of the company worth $79,700,000 after acquiring an additional 41,559 shares during the period. Alethea Capital Management LLC increased its stake in Axsome Therapeutics by 12.0% during the third quarter. Alethea Capital Management LLC now owns 1,132,645 shares of the company valued at $37,332,000 after purchasing an additional 121,700 shares in the last quarter. Bellevue Group AG increased its stake in Axsome Therapeutics by 113.9% during the third quarter. Bellevue Group AG now owns 752,945 shares of the company valued at $24,817,000 after purchasing an additional 400,924 shares in the last quarter. Geode Capital Management LLC increased its stake in Axsome Therapeutics by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 507,485 shares of the company valued at $19,172,000 after purchasing an additional 16,055 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its stake in Axsome Therapeutics by 55.3% during the fourth quarter. Nuveen Asset Management LLC now owns 494,206 shares of the company valued at $18,671,000 after purchasing an additional 175,949 shares in the last quarter. 48.45% of the shares are held by hedge funds and other institutional investors.

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The company has a 50-day moving average of $30.10 and a 200-day moving average of $33.20. The company has a market capitalization of $1.55 billion, a P/E ratio of -10.81 and a beta of 2.37. The company has a quick ratio of 3.75, a current ratio of 3.75 and a leverage ratio of 3.14.

Axsome Therapeutics (NASDAQ: AXSM – Get a rating) last announced its quarterly results on Tuesday, March 1. The company reported ($0.90) EPS for the quarter, beating analyst consensus estimates of ($0.99) by $0.09. During the same period of the previous year, the company achieved EPS of ($0.78). On average, research analysts expect Axsome Therapeutics, Inc. to post EPS of -4.11 for the current year.

Axsome Therapeutics Company Profile (NASDAQ: AXSM)

Axsome Therapeutics, Inc, a biopharmaceutical company, is engaged in the development of novel therapies for central nervous system (CNS) disorders in the United States. The Company’s product portfolio includes AXS-05, a therapeutic agent for the treatment of major depressive disorder and resistant depressive disorders; and which is in the phase III clinical trial to treat Alzheimer’s disease agitation, as well as which has completed the phase II clinical trial for the treatment of smoking cessation.

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