Axsome Therapeutics (NASDAQ:AXSM) Given New $153.00 Price Target at Needham & Company LLC

Axsome Therapeutics (NASDAQ:AXSM) had its target price increased by Needham & Company LLC from $133.00 to $153.00 in a research note published on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other brokerages also recently commented on AXSM. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $121.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, December 12th. Leerink Partners upped their price target on Axsome Therapeutics from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. Robert W. Baird increased their price objective on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and set a $190.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, February 11th. Finally, Truist Financial raised their price target on Axsome Therapeutics from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $154.80.

Axsome Therapeutics Trading Down 0.9 %

Shares of AXSM stock opened at $126.96 on Wednesday. The business has a 50-day moving average of $99.64 and a 200 day moving average of $94.22. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. Axsome Therapeutics has a 1-year low of $64.11 and a 1-year high of $134.18. The stock has a market capitalization of $6.15 billion, a PE ratio of -19.44 and a beta of 1.05.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The firm had revenue of $118.77 million during the quarter, compared to analyst estimates of $117.83 million. As a group, sell-side analysts anticipate that Axsome Therapeutics will post -4.59 earnings per share for the current year.

Insiders Place Their Bets

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Several large investors have recently modified their holdings of AXSM. Raiffeisen Bank International AG purchased a new stake in Axsome Therapeutics during the 4th quarter valued at about $51,000. Assetmark Inc. bought a new position in shares of Axsome Therapeutics in the fourth quarter worth approximately $52,000. R Squared Ltd purchased a new stake in shares of Axsome Therapeutics during the fourth quarter valued at approximately $64,000. Aquatic Capital Management LLC bought a new stake in shares of Axsome Therapeutics during the fourth quarter valued at approximately $76,000. Finally, GF Fund Management CO. LTD. purchased a new position in Axsome Therapeutics in the 4th quarter worth approximately $86,000. Hedge funds and other 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.