Axsome Therapeutics Inc. [AXSM] Stock trading around $37.03 per share: What’s Next?


Axsome Therapeutics Inc. [NASDAQ: AXSM] closed the trading session at $37.03 on 06/27/22. The day’s price range saw the stock hit a low of $32.60, while the highest price level was $38.75. The company report on June 22, 2022 that Axsome Therapeutics to Host Sunosi® Investor Update Virtual Event.

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Axsome Therapeutics, Inc. (NASDAQ: AXSM), a biopharmaceutical company developing and delivering novel therapies for the management of central nervous system (CNS) disorders, today announced that it will host a virtual event on Tuesday, June 28, 2022 at 9:00 AM EDT to provide investors an update on Sunosi® (solriamfetol). Sunosi is the first and only dual-acting dopamine and norepinephrine reuptake inhibitor (DNRI) indicated to improve wakefulness in adult patients with excessive daytime sleepiness (EDS) due to narcolepsy or obstructive sleep apnea (OSA).

The event will include clinical overviews of current and potential future indications provided by invited physician experts. The Axsome senior management team will also provide an overview of Sunosi commercial activities and clinical development plans. The presenters will be available to answer questions at the end of the presentations. To access the event please click here.

The stocks have a year to date performance of -1.99 percent and weekly performance of 63.20 percent. The stock has been moved at -3.69 percent over the last six months. The stock has performed 46.54 percent around the most recent 30 days and changed 4.72 percent over the most recent 3-months.

If compared to the average trading volume of 1.11M shares, AXSM reached to a volume of 23573628 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Axsome Therapeutics Inc. [AXSM]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AXSM shares is $78.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AXSM stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for Axsome Therapeutics Inc. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on August 10, 2021. While these analysts kept the previous recommendation, Berenberg raised their target price to Buy. The new note on the price target was released on June 10, 2021, representing the official price target for Axsome Therapeutics Inc. stock. Previously, the target price had yet another raise to $129, while Jefferies analysts kept a Buy rating on AXSM stock.

The Average True Range (ATR) for Axsome Therapeutics Inc. is set at 3.16 The Price to Book ratio for the last quarter was 97.45, with the Price to Cash per share for the same quarter was set at 2.15.

AXSM stock trade performance evaluation

Axsome Therapeutics Inc. [AXSM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 63.20. With this latest performance, AXSM shares gained by 46.54% in over the last four-week period, additionally sinking by -3.69% over the last 6 months – not to mention a drop of -49.62% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AXSM stock in for the last two-week period is set at 69.44, with the RSI for the last a single of trading hit 79.77, and the three-weeks RSI is set at 62.56 for Axsome Therapeutics Inc. [AXSM]. The present Moving Average for the last 50 days of trading for this stock 29.25, while it was recorded at 26.54 for the last single week of trading, and 32.92 for the last 200 days.

Axsome Therapeutics Inc. [AXSM]: An insightful look at the core fundamentals

Return on Equity for this stock declined to -201.51, with Return on Assets sitting at -95.21.

Axsome Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.50 and a Current Ratio set at 3.50.

Axsome Therapeutics Inc. [AXSM]: Insider Ownership positions

There are presently around $483 million, or 50.20% of AXSM stock, in the hands of institutional investors. The top three institutional holders of AXSM stocks are: VANGUARD GROUP INC with ownership of 2,699,490, which is approximately 0.516% of the company’s market cap and around 20.56% of the total institutional ownership; BLACKROCK INC., holding 2,092,257 shares of the stock with an approximate value of $51.18 million in AXSM stocks shares; and RTW INVESTMENTS, LP, currently with $39.6 million in AXSM stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Axsome Therapeutics Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 73 institutional holders increased their position in Axsome Therapeutics Inc. [NASDAQ:AXSM] by around 2,852,197 shares. Additionally, 89 investors decreased positions by around 2,272,479 shares, while 37 investors held positions by with 14,617,829 shares. The mentioned changes placed institutional holdings at 19,742,505 shares, according to the latest SEC report filing. AXSM stock had 32 new institutional investments in for a total of 1,442,227 shares, while 24 institutional investors sold positions of 360,081 shares during the same period.