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

Axsome Therapeutics, Inc. (NASDAQ:AXSM) saw a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 7,080,000 shares, a drop of 7.9% from the November 15th total of 7,690,000 shares. Based on an average daily volume of 459,900 shares, the days-to-cover ratio is currently 15.4 days.

Hedge Funds Weigh In On Axsome Therapeutics

A number of large investors have recently made changes to their positions in the company. PDT Partners LLC bought a new stake in Axsome Therapeutics in the third quarter worth about $1,052,000. BNP Paribas Financial Markets raised its holdings in shares of Axsome Therapeutics by 71.7% in the third quarter. BNP Paribas Financial Markets now owns 13,733 shares of the company’s stock worth $1,234,000 after buying an additional 5,737 shares during the period. XTX Topco Ltd raised its holdings in shares of Axsome Therapeutics by 177.9% in the second quarter. XTX Topco Ltd now owns 11,205 shares of the company’s stock worth $902,000 after buying an additional 7,173 shares during the period. Erste Asset Management GmbH bought a new stake in shares of Axsome Therapeutics during the 3rd quarter worth approximately $986,000. Finally, Tri Locum Partners LP boosted its holdings in Axsome Therapeutics by 198.4% during the 2nd quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock valued at $24,674,000 after acquiring an additional 203,802 shares during the period. 81.49% of the stock is owned by hedge funds and other institutional investors.

Axsome Therapeutics Price Performance

NASDAQ:AXSM opened at $90.10 on Monday. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of -13.80 and a beta of 1.18. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. The business has a 50 day simple moving average of $93.02 and a 200-day simple moving average of $87.47. Axsome Therapeutics has a 1 year low of $64.11 and a 1 year high of $105.00.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AXSM shares. HC Wainwright reissued a “buy” rating and issued a $180.00 target price on shares of Axsome Therapeutics in a report on Monday, November 25th. Royal Bank of Canada boosted 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. Cantor Fitzgerald reissued an “overweight” rating and set a $121.00 price objective on shares of Axsome Therapeutics in a report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 target price on shares of Axsome Therapeutics in a report on Tuesday, November 12th. Finally, StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $125.93.

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.