Axsome Therapeutics Inc. (NASDAQ: AXSM) stock fell -1.72% on Friday to $70.27 against a previous-day closing price of $71.50. With 0.72 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.35 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $72.93 whereas the lowest price it dropped to was $69.21. The 52-week range on AXSM shows that it touched its highest point at $82.00 and its lowest point at $20.63 during that stretch. It currently has a 1-year price target of $109.13. Beta for the stock currently stands at 1.97.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AXSM was down-trending over the past week, with a drop of -0.79%, but this was down by -6.96% over a month. Three-month performance surged to 72.02% while six-month performance rose 82.33%. The stock gained 173.42% in the past year, while it has lost -8.89% so far this year. A look at the trailing 12-month EPS for AXSM yields -4.07 with Next year EPS estimates of -3.28. For the next quarter, that number is -1.14. This implies an EPS growth rate of -25.30% for this year and 24.10% for next year.
Float and Shares Shorts:
At present, 41.70 million AXSM shares are outstanding with a float of 35.41 million shares on hand for trading. On Oct 13, 2022, short shares totaled 5.74 million, which was 13.38% higher than short shares on Sep 14, 2022. In addition to Dr. Herriot Tabuteau M.D. as the firm’s Founder, Chairman, CEO & Pres, Mr. Nick Pizzie CPA, M.B.A. serves as its Chief Financial Officer.
Through their ownership of 58.60% of AXSM’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 41.68% of AXSM, in contrast to 21.02% held by mutual funds. Shares owned by individuals account for 18.92%. As the largest shareholder in AXSM with 6.98% of the stake, The Vanguard Group, Inc. holds 3,033,024 shares worth 3,033,024. A second-largest stockholder of AXSM, PFM Health Sciences LP, holds 2,159,733 shares, controlling over 4.97% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in AXSM, holding 1,968,654 shares or 4.53% stake. With a 2.43% stake in AXSM, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 1,056,977 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.06% of AXSM stock, is the second-largest Mutual Fund holder. It holds 895,155 shares valued at 69.04 million. iShares Russell 2000 ETF holds 1.64% of the stake in AXSM, owning 713,174 shares worth 55.01 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AXSM since 16 analysts follow the stock currently. There are 13 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With AXSM analysts setting a high price target of $210.00 and a low target of $52.00, the average target price over the next 12 months is $108.99. Based on these targets, AXSM could surge 198.85% to reach the target high and fall by -26.0% to reach the target low. Reaching the average price target will result in a growth of 55.1% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. AXSM will report FY 2022 earnings on 02/27/2024. Analysts have provided yearly estimates in a range of -$3.44 being high and -$5.37 being low. For AXSM, this leads to a yearly average estimate of -$4.33. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Axsome Therapeutics Inc. surprised analysts by -$0.02 when it reported -$1.07 EPS against a consensus estimate of -$1.05. The surprise factor in the prior quarter was -$0.05. Based on analyst estimates, the high estimate for the next quarter is -$0.72 and the low estimate is -$1.59. The average estimate for the next quarter is thus -$1.12.
Summary of Insider Activity:
Insiders traded AXSM stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 1 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 3,496 while 0 shares were sold.