Axsome Therapeutics Inc. (NASDAQ: AXSM) stock fell -3.75% on Tuesday to $71.82 against a previous-day closing price of $74.62. With 0.55 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.85 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $75.06 whereas the lowest price it dropped to was $71.64. The 52-week range on AXSM shows that it touched its highest point at $82.85 and its lowest point at $20.63 during that stretch. It currently has a 1-year price target of $111.08. Beta for the stock currently stands at 1.91.
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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 -6.82%, but this was down by -2.05% over a month. Three-month performance surged to 14.71% while six-month performance rose 27.86%. The stock gained 126.92% in the past year, while it has lost -6.88% so far this year. A look at the trailing 12-month EPS for AXSM yields -3.80 with Next year EPS estimates of -1.50. For the next quarter, that number is -1.27. This implies an EPS growth rate of -32.80% for this year and 61.10% for next year.
Float and Shares Shorts:
At present, 43.52 million AXSM shares are outstanding with a float of 35.41 million shares on hand for trading. On Apr 27, 2023, short shares totaled 7.99 million, which was 18.35% higher than short shares on Mar 30, 2023. 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 70.77% of AXSM’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 46.15% of AXSM, in contrast to 21.77% held by mutual funds. Shares owned by individuals account for 20.98%. As the largest shareholder in AXSM with 7.66% of the stake, The Vanguard Group, Inc. holds 3,331,565 shares worth 3,331,565. A second-largest stockholder of AXSM, RTW Investments LP, holds 2,980,482 shares, controlling over 6.85% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in AXSM, holding 2,206,569 shares or 5.07% stake. With a 2.46% stake in AXSM, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 1,070,866 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.09% of AXSM stock, is the second-largest Mutual Fund holder. It holds 909,164 shares valued at 65.03 million. iShares Russell 2000 ETF holds 1.56% of the stake in AXSM, owning 678,594 shares worth 48.54 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, AXSM reported revenue of $8.82M and operating income of -$40.04M. The EBITDA in the recently reported quarter was -$38.77M and diluted EPS was -$1.06.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AXSM since 0 analysts follow the stock currently. 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 $200.00 and a low target of $57.00, the average target price over the next 12 months is $110.08. Based on these targets, AXSM could surge 178.47% to reach the target high and fall by -20.63% to reach the target low. Reaching the average price target will result in a growth of 53.27% 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.
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 17,501 while 0 shares were sold.