Needham & Company LLC Reaffirms “Buy” Rating for Axsome Therapeutics (NASDAQ:AXSM)

Needham & Company LLC reiterated their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research note released on Monday morning,Benzinga reports. They currently have a $153.00 price target on the stock.

A number of other brokerages also recently weighed in on AXSM. Morgan Stanley upped their target price on Axsome Therapeutics from $125.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Cantor Fitzgerald restated an “overweight” rating and set a $153.00 price target on shares of Axsome Therapeutics in a report on Wednesday, February 19th. Bank of America increased their price objective on Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, Truist Financial boosted their target price on Axsome Therapeutics from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Axsome Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $167.36.

Axsome Therapeutics Stock Down 0.3 %

Shares of Axsome Therapeutics stock opened at $127.15 on Monday. Axsome Therapeutics has a 1-year low of $64.11 and a 1-year high of $139.13. The company has a market capitalization of $6.20 billion, a P/E ratio of -21.23 and a beta of 1.05. The business’s fifty day moving average price is $105.00 and its two-hundred day moving average price is $96.52. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04.

Axsome Therapeutics (NASDAQ:AXSM) last released its 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. The firm had revenue of $118.77 million for the quarter, compared to analyst estimates of $117.83 million. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. As a group, research analysts forecast that Axsome Therapeutics will post -2.79 EPS for the current year.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the transaction, the chief financial officer now directly owns 42,187 shares of the company’s stock, valued at approximately $5,529,450.09. The trade was a 6.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 22.40% of the company’s stock.

Institutional Trading of Axsome Therapeutics

A number of institutional investors have recently bought and sold shares of AXSM. Raiffeisen Bank International AG bought a new position in shares of Axsome Therapeutics in the 4th quarter worth about $51,000. Assetmark Inc. bought a new stake in shares of Axsome Therapeutics during the 4th quarter valued at about $52,000. R Squared Ltd acquired a new stake in Axsome Therapeutics during the fourth quarter worth approximately $64,000. Aquatic Capital Management LLC bought a new stake in Axsome Therapeutics in the fourth quarter worth approximately $76,000. Finally, GF Fund Management CO. LTD. acquired a new position in Axsome Therapeutics in the fourth quarter valued at approximately $86,000. 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.