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

Needham & Company LLC restated their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research note released on Monday morning,Benzinga reports. Needham & Company LLC currently has a $133.00 price objective on the stock.

A number of other research firms have also issued reports on AXSM. William Blair reissued an “outperform” rating on shares of Axsome Therapeutics in a research report on Friday, January 24th. Robert W. Baird raised their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. HC Wainwright boosted their target price on shares of Axsome Therapeutics from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, January 31st. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Mizuho boosted their price objective on Axsome Therapeutics from $122.00 to $137.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $135.14.

Axsome Therapeutics Price Performance

NASDAQ AXSM opened at $127.08 on Monday. The company has a market cap of $6.16 billion, a price-to-earnings ratio of -19.46 and a beta of 1.05. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. The stock’s fifty day moving average price is $94.72 and its 200 day moving average price is $91.78. Axsome Therapeutics has a 1 year low of $64.11 and a 1 year high of $132.25.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The business had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. During the same period in the prior year, the company earned ($1.32) earnings per share. As a group, equities research analysts forecast that Axsome Therapeutics will post -4.7 earnings per share for the current year.

Institutional Inflows and Outflows

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