Axsome Therapeutics’ (AXSM) “Buy” Rating Reaffirmed at Needham & Company LLC

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a note issued to investors on Monday,Benzinga reports. They presently have a $133.00 price target on the stock. Needham & Company LLC’s target price indicates a potential upside of 53.85% from the company’s current price.

Other analysts also recently issued research reports about the stock. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $121.00 price target on shares of Axsome Therapeutics in a report on Thursday, December 12th. Robert W. Baird upped 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 on shares of Axsome Therapeutics in a report on Tuesday, December 31st. Finally, Mizuho decreased their target price on shares of Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 31st. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $127.29.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $86.45 on Monday. Axsome Therapeutics has a 52-week low of $64.11 and a 52-week high of $105.00. The stock’s 50-day moving average price is $92.85 and its 200 day moving average price is $88.87. 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 stock has a market capitalization of $4.19 billion, a PE ratio of -13.24 and a beta of 1.04.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) 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 during the quarter, compared to analysts’ expectations of $98.71 million. During the same quarter in the prior year, the business earned ($1.32) earnings per share. As a group, equities research analysts forecast that Axsome Therapeutics will post -4.6 EPS for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

Institutional investors have recently made changes to their positions in the stock. PDT Partners LLC acquired a new position in Axsome Therapeutics in the 3rd quarter valued at about $1,052,000. Captrust Financial Advisors purchased a new stake in Axsome Therapeutics in the 3rd quarter worth approximately $514,000. BNP Paribas Financial Markets raised its holdings in Axsome Therapeutics by 71.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,733 shares of the company’s stock valued at $1,234,000 after acquiring an additional 5,737 shares during the last quarter. Erste Asset Management GmbH purchased a new position in shares of Axsome Therapeutics during the 3rd quarter worth $986,000. Finally, XTX Topco Ltd boosted its holdings in shares of Axsome Therapeutics by 177.9% during the second quarter. XTX Topco Ltd now owns 11,205 shares of the company’s stock worth $902,000 after purchasing an additional 7,173 shares during the last quarter. 81.49% of the stock is 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.