Axsome Therapeutics’ (AXSM) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a report issued on Tuesday morning,Benzinga reports. They currently have a $153.00 price objective on the stock.

A number of other equities analysts have also issued reports on AXSM. Truist Financial raised their target price on Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Royal Bank of Canada raised their price objective on Axsome Therapeutics from $143.00 to $192.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Wells Fargo & Company upped their target price on Axsome Therapeutics from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. William Blair reiterated an “outperform” rating on shares of Axsome Therapeutics in a report on Tuesday, February 18th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $153.00 price objective on shares of Axsome Therapeutics in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $167.64.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock opened at $111.67 on Tuesday. The company has a 50 day moving average price of $120.47 and a 200 day moving average price of $101.53. The firm has a market capitalization of $5.45 billion, a P/E ratio of -18.64 and a beta of 1.00. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. Axsome Therapeutics has a 52 week low of $64.11 and a 52 week high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The business had revenue of $118.77 million during the quarter, compared to analysts’ expectations of $117.83 million. Sell-side analysts expect that Axsome Therapeutics will post -2.79 EPS for the current year.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the transaction, the chief financial officer now owns 42,187 shares in the company, valued at approximately $5,529,450.09. This represents a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 22.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Raiffeisen Bank International AG purchased a new position in Axsome Therapeutics during the fourth quarter worth approximately $51,000. Assetmark Inc. acquired a new position in shares of Axsome Therapeutics during the 4th quarter worth approximately $52,000. R Squared Ltd purchased a new position in shares of Axsome Therapeutics during the 4th quarter valued at approximately $64,000. Aquatic Capital Management LLC acquired a new stake in Axsome Therapeutics in the 4th quarter valued at $76,000. Finally, GF Fund Management CO. LTD. purchased a new stake in Axsome Therapeutics in the 4th quarter worth $86,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

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.