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

Needham & Company LLC reiterated their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research report report published on Monday,Benzinga reports. The firm currently has a $130.00 target price on the stock.

Several other equities research analysts have also commented on AXSM. HC Wainwright restated a “buy” rating and set a $180.00 price target on shares of Axsome Therapeutics in a research note on Monday, November 25th. Royal Bank of Canada raised their price objective on 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 reissued an “overweight” rating and set a $121.00 price target on shares of Axsome Therapeutics in a research report on Thursday, December 12th. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Robert W. Baird boosted their price objective 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. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $125.93.

Axsome Therapeutics Stock Performance

Shares of NASDAQ AXSM opened at $84.78 on Monday. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $105.00. The company has a 50-day simple moving average of $93.26 and a 200-day simple moving average of $88.67. 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 company has a market cap of $4.11 billion, a PE ratio of -12.98 and a beta of 1.18.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The company had revenue of $104.76 million during the quarter, compared to the consensus estimate of $98.71 million. During the same quarter in the prior year, the company posted ($1.32) EPS. On average, equities analysts anticipate that Axsome Therapeutics will post -4.6 earnings per share for the current year.

Institutional Inflows and Outflows

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

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.