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

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

Other equities analysts have also recently issued reports about the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $121.00 price target on shares of Axsome Therapeutics in a research note on Thursday, December 12th. HC Wainwright reaffirmed a “buy” rating on shares of Axsome Therapeutics in a report on Tuesday, December 31st. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Mizuho lowered their price target on Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating on the stock in a report on Tuesday, December 31st. Finally, Royal Bank of Canada lifted their price objective on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Axsome Therapeutics has an average rating of “Moderate Buy” and an average target price of $127.29.

Axsome Therapeutics Price Performance

Shares of AXSM opened at $85.13 on Monday. 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 is $92.75 and its two-hundred day moving average is $89.03. Axsome Therapeutics has a twelve month low of $64.11 and a twelve month high of $105.00. The firm has a market capitalization of $4.13 billion, a PE ratio of -13.04 and a beta of 1.04.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly 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. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The firm had revenue of $104.76 million for the quarter, compared to the consensus estimate of $98.71 million. During the same period in the previous year, the business earned ($1.32) earnings per share. Research analysts anticipate that Axsome Therapeutics will post -4.6 earnings per share for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

A number of institutional investors have recently modified their holdings of AXSM. Northwestern Mutual Wealth Management Co. acquired a new stake in Axsome Therapeutics during the second quarter worth approximately $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Axsome Therapeutics during the 2nd quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Axsome Therapeutics by 22.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock worth $156,000 after purchasing an additional 318 shares during the last quarter. Moors & Cabot Inc. purchased a new stake in shares of Axsome Therapeutics in the third quarter valued at $200,000. Finally, Whalen Wealth Management Inc. acquired a new position in Axsome Therapeutics in the third quarter valued at $236,000. 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.