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

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating restated by stock 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 price objective would suggest a potential upside of 57.21% from the company’s previous close.

A number of other analysts have also commented on the company. Truist Financial lifted their price objective on Axsome Therapeutics from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday. Robert W. Baird boosted their price target on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Royal Bank of Canada increased their price objective on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $121.00 target price on shares of Axsome Therapeutics in a report on Thursday, December 12th. Finally, StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.43.

Axsome Therapeutics Stock Down 5.2 %

Shares of NASDAQ:AXSM opened at $84.60 on Monday. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $105.00. The firm has a market cap of $4.10 billion, a P/E ratio of -12.96 and a beta of 1.04. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. The company’s 50-day moving average price is $92.12 and its two-hundred day moving average price is $89.25.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. The firm had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. During the same period last year, the company earned ($1.32) EPS. As a group, research analysts forecast that Axsome Therapeutics will post -4.6 EPS for the current fiscal year.

Institutional Trading of Axsome Therapeutics

Large investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. bought a new position in Axsome Therapeutics in the second quarter valued at approximately $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Axsome Therapeutics during the second quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. lifted its position in 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 acquiring an additional 318 shares in the last quarter. Moors & Cabot Inc. acquired a new position in Axsome Therapeutics in the 3rd quarter worth $200,000. Finally, Whalen Wealth Management Inc. bought a new position in Axsome Therapeutics during the 3rd quarter worth about $236,000. 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.