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

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

AXSM has been the subject of several other research reports. HC Wainwright increased their target price on Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Leerink Partners increased their price objective on Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. Bank of America boosted their target price on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $153.00 price target on shares of Axsome Therapeutics in a research note on Wednesday, February 19th. Finally, Morgan Stanley upped their price objective on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Axsome Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $167.36.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $127.15 on Monday. The stock has a 50-day moving average price of $105.00 and a 200-day moving average price of $96.52. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. The company has a market cap of $6.20 billion, a PE ratio of -21.23 and a beta of 1.05. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results 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 223.51% and a negative net margin of 74.47%. The company had revenue of $118.77 million during the quarter, compared to analyst estimates of $117.83 million. As a group, equities analysts forecast that Axsome Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Activity 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 value of $393,210.00. Following the completion of the sale, the chief financial officer now owns 42,187 shares in the company, valued at $5,529,450.09. The trade was a 6.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 22.40% of the company’s stock.

Institutional Trading of Axsome Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in Axsome Therapeutics by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock valued at $19,062,000 after purchasing an additional 27,534 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Axsome Therapeutics in the 4th quarter valued at approximately $2,599,000. PDT Partners LLC purchased a new position in shares of Axsome Therapeutics during the 3rd quarter valued at approximately $1,052,000. Pallas Capital Advisors LLC acquired a new stake in shares of Axsome Therapeutics during the fourth quarter worth approximately $2,237,000. Finally, Captrust Financial Advisors bought a new stake in shares of Axsome Therapeutics in the third quarter worth $514,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.