Axsome Therapeutics’ (AXSM) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research report sent to investors on Monday,Benzinga reports. Needham & Company LLC currently has a $133.00 price target on the stock.

Other equities analysts also recently issued research reports about the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $121.00 target price on shares of Axsome Therapeutics in a research note on Thursday, December 12th. Royal Bank of Canada upped their price objective on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Mizuho dropped their price objective on Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating on the stock in a report on Tuesday, December 31st. HC Wainwright restated a “buy” rating on shares of Axsome Therapeutics in a research note on Tuesday, December 31st. Finally, StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.29.

Axsome Therapeutics Trading Down 1.5 %

NASDAQ:AXSM opened at $85.13 on Monday. The stock has a fifty day moving average price of $92.75 and a 200 day moving average price of $89.03. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. The firm has a market cap of $4.13 billion, a PE ratio of -13.04 and a beta of 1.04. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The firm had revenue of $104.76 million for the quarter, compared to analysts’ expectations of $98.71 million. During the same quarter last year, the company earned ($1.32) earnings per share. Sell-side analysts anticipate that Axsome Therapeutics will post -4.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Axsome Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Axsome Therapeutics during the second quarter worth about $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Axsome Therapeutics during the 2nd quarter worth approximately $47,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Axsome Therapeutics by 22.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after purchasing an additional 318 shares during the last quarter. Moors & Cabot Inc. acquired a new position in shares of Axsome Therapeutics in the third quarter valued at approximately $200,000. Finally, Whalen Wealth Management Inc. acquired a new position in shares of Axsome Therapeutics in the third quarter valued at approximately $236,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

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.