Axsome Therapeutics (NASDAQ:AXSM) Earns Buy Rating from Needham & Company LLC

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a report released on Monday,Benzinga reports. They currently have a $133.00 target price on the stock. Needham & Company LLC’s target price indicates a potential upside of 0.61% from the stock’s current price.

Several other analysts have also recently issued reports on the stock. William Blair reaffirmed an “outperform” rating on shares of Axsome Therapeutics in a research note on Friday, January 24th. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. HC Wainwright upped their price objective on shares of Axsome Therapeutics from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $121.00 target price on shares of Axsome Therapeutics in a research note on Thursday, December 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $139.00 target price on shares of Axsome Therapeutics in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $145.80.

Axsome Therapeutics Stock Up 4.0 %

AXSM opened at $132.20 on Monday. Axsome Therapeutics has a fifty-two week low of $64.11 and a fifty-two week high of $134.19. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. The company has a fifty day moving average of $95.28 and a two-hundred day moving average of $92.07. The stock has a market capitalization of $6.41 billion, a price-to-earnings ratio of -20.25 and a beta of 1.05.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.04. The business had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same quarter in the previous year, the company earned ($1.32) earnings per share. On average, research analysts expect that Axsome Therapeutics will post -4.7 earnings per share for the current year.

Institutional Trading of Axsome Therapeutics

A number of large investors have recently bought and sold shares of the business. Meridian Wealth Management LLC boosted its stake in Axsome Therapeutics by 0.7% during the 4th quarter. Meridian Wealth Management LLC now owns 21,171 shares of the company’s stock worth $1,791,000 after purchasing an additional 150 shares during the period. Arizona State Retirement System lifted its stake in shares of Axsome Therapeutics by 1.8% in the fourth quarter. Arizona State Retirement System now owns 9,054 shares of the company’s stock valued at $766,000 after purchasing an additional 164 shares during the period. Xponance Inc. lifted its stake in shares of Axsome Therapeutics by 11.6% in the fourth quarter. Xponance Inc. now owns 2,659 shares of the company’s stock valued at $225,000 after purchasing an additional 277 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Axsome Therapeutics by 22.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after acquiring an additional 318 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in Axsome Therapeutics during the 2nd quarter valued at about $27,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

Axsome Therapeutics Company Profile

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.