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

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its position in Axsome Therapeutics by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock valued at $19,062,000 after acquiring an additional 27,534 shares in the last quarter. Franklin Resources Inc. raised its position in Axsome Therapeutics by 47.5% in 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 last quarter. Geode Capital Management LLC lifted 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 valued at $81,659,000 after acquiring an additional 23,564 shares in the last quarter. Barclays PLC lifted its position in shares of Axsome Therapeutics by 279.6% during the third quarter. Barclays PLC now owns 61,785 shares of the company’s stock valued at $5,552,000 after purchasing an additional 45,509 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of 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. Institutional investors and hedge funds own 81.49% of the company’s stock.

Axsome Therapeutics Trading Down 0.6 %

Shares of Axsome Therapeutics stock traded down $0.48 on Tuesday, reaching $84.30. 640,356 shares of the company’s stock were exchanged, compared to its average volume of 621,146. The company has a market capitalization of $4.09 billion, a P/E ratio of -12.91 and a beta of 1.18. Axsome Therapeutics has a 52 week low of $64.11 and a 52 week 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. The firm’s 50-day moving average is $93.26 and its two-hundred day moving average is $88.67.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AXSM shares. Royal Bank of Canada upped their target price on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Robert W. Baird lifted their target price on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $121.00 target price on shares of Axsome Therapeutics in a report on Thursday, December 12th. Wells Fargo & Company began coverage on shares of Axsome Therapeutics in a report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price target on the stock. Finally, StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.07.

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.