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

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

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada upped their target price on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, October 4th. HC Wainwright reiterated a “buy” rating on shares of Axsome Therapeutics in a report on Tuesday, December 31st. Truist Financial boosted their price target on Axsome Therapeutics from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Monday. Robert W. Baird boosted their price target on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Mizuho lowered their price target on Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating for the company in a research note on Tuesday, December 31st. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Axsome Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $129.43.

Axsome Therapeutics Price Performance

NASDAQ AXSM opened at $89.27 on Monday. The company has a market cap of $4.33 billion, a PE ratio of -13.67 and a beta of 1.04. Axsome Therapeutics has a 1 year low of $64.11 and a 1 year high of $105.00. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. The stock’s 50-day moving average price is $92.21 and its two-hundred day moving average price is $89.22.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results 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. The company had revenue of $104.76 million for the quarter, compared to the consensus estimate of $98.71 million. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. During the same quarter in the prior year, the company earned ($1.32) EPS. On average, analysts predict that Axsome Therapeutics will post -4.6 EPS for the current year.

Institutional Investors Weigh In On Axsome Therapeutics

Hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Axsome Therapeutics in the second quarter valued at approximately $27,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Axsome Therapeutics in the second quarter valued at approximately $47,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Axsome Therapeutics by 22.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after acquiring an additional 318 shares during the period. Moors & Cabot Inc. bought a new stake in shares of Axsome Therapeutics in the third quarter valued at approximately $200,000. Finally, Whalen Wealth Management Inc. bought a new stake in shares of Axsome Therapeutics in the third quarter valued at approximately $236,000. 81.49% of the stock is owned by 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.