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

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a report issued on Monday,Benzinga reports. They currently have a $130.00 price target on the stock. Needham & Company LLC’s target price points to a potential upside of 49.94% from the company’s current price.

AXSM has been the topic of a number of other research reports. Royal Bank of Canada boosted their price objective on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Cantor Fitzgerald restated an “overweight” rating and set a $121.00 target price on shares of Axsome Therapeutics in a report on Thursday, December 12th. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. HC Wainwright reiterated a “buy” rating and set a $180.00 target price on shares of Axsome Therapeutics in a report on Monday, November 25th. Finally, Wells Fargo & Company assumed coverage on Axsome Therapeutics in a research note on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 target price for the company. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $125.93.

Axsome Therapeutics Stock Performance

Axsome Therapeutics stock opened at $86.70 on Monday. The company has a market capitalization of $4.20 billion, a PE ratio of -13.28 and a beta of 1.18. The firm has a fifty day simple moving average of $93.39 and a two-hundred day simple moving average of $88.59. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. Axsome Therapeutics has a twelve month low of $64.11 and a twelve month high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the company earned ($1.32) EPS. Research analysts expect that Axsome Therapeutics will post -4.6 EPS for the current year.

Institutional Investors Weigh In On Axsome Therapeutics

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its stake in shares of Axsome Therapeutics by 7.7% in the second quarter. Bank of New York Mellon Corp now owns 165,564 shares of the company’s stock worth $13,328,000 after buying an additional 11,793 shares in the last quarter. Rhumbline Advisers boosted its stake in Axsome Therapeutics by 5.1% during the 2nd quarter. Rhumbline Advisers now owns 54,931 shares of the company’s stock valued at $4,422,000 after purchasing an additional 2,674 shares during the last quarter. Arizona State Retirement System boosted its stake in Axsome Therapeutics by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock valued at $695,000 after purchasing an additional 177 shares during the last quarter. Torray Investment Partners LLC raised its stake in shares of Axsome Therapeutics by 11.5% in the second quarter. Torray Investment Partners LLC now owns 11,747 shares of the company’s stock worth $946,000 after purchasing an additional 1,209 shares during the last quarter. Finally, WINTON GROUP Ltd raised its position in Axsome Therapeutics by 156.6% in the 2nd quarter. WINTON GROUP Ltd now owns 8,823 shares of the company’s stock worth $710,000 after buying an additional 5,385 shares during the last quarter. 81.49% of the stock is owned by hedge funds and other 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.