Axsome Therapeutics (NASDAQ:AXSM) Price Target Cut to $150.00 by Analysts at Needham & Company LLC

Axsome Therapeutics (NASDAQ:AXSM) had its price objective lowered by Needham & Company LLC from $153.00 to $150.00 in a report published on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley boosted their price target on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft started coverage on Axsome Therapeutics in a research note on Tuesday, February 11th. They issued a “buy” rating and a $176.00 target price on the stock. Mizuho upped their target price on Axsome Therapeutics from $212.00 to $216.00 and gave the stock an “outperform” rating in a research report on Thursday, March 27th. Cantor Fitzgerald upgraded Axsome Therapeutics to a “strong-buy” rating in a report on Wednesday, May 14th. Finally, Robert W. Baird boosted their price target on Axsome Therapeutics from $160.00 to $162.00 and gave the company an “outperform” rating in a research note on Tuesday, May 6th. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Axsome Therapeutics presently has an average rating of “Buy” and a consensus target price of $172.80.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $109.87 on Monday. The company has a market capitalization of $5.41 billion, a PE ratio of -18.34 and a beta of 0.47. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. The company’s 50 day moving average price is $105.94 and its 200 day moving average price is $106.81. Axsome Therapeutics has a 52 week low of $64.11 and a 52 week high of $139.13.

Insider Activity

In other Axsome Therapeutics news, Director Mark Coleman sold 3,750 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $105.47, for a total value of $395,512.50. Following the sale, the director now owns 50,387 shares of the company’s stock, valued at $5,314,316.89. This trade represents a 6.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Mark L. Jacobson sold 20,000 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $103.45, for a total value of $2,069,000.00. Following the completion of the transaction, the chief operating officer now directly owns 5,783 shares in the company, valued at approximately $598,251.35. This represents a 77.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,423 shares of company stock valued at $4,950,619 over the last 90 days. 22.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Several hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd acquired a new position in Axsome Therapeutics during the 1st quarter valued at $25,000. NBC Securities Inc. bought a new position in shares of Axsome Therapeutics during the 1st quarter worth about $31,000. Quantbot Technologies LP acquired a new position in shares of Axsome Therapeutics during the first quarter valued at about $31,000. AlphaQuest LLC acquired a new position in shares of Axsome Therapeutics during the first quarter valued at about $38,000. Finally, Neo Ivy Capital Management bought a new stake in shares of Axsome Therapeutics in the first quarter valued at about $41,000. 81.49% of the stock is owned by institutional investors.

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.