Needham & Company LLC Reiterates “Buy” Rating for Axsome Therapeutics (NASDAQ:AXSM)

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research note issued on Tuesday,Benzinga reports. They presently have a $153.00 target price on the stock. Needham & Company LLC’s target price suggests a potential upside of 39.41% from the company’s previous close.

A number of other equities analysts also recently commented on the company. William Blair restated an “outperform” rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft initiated coverage on Axsome Therapeutics in a research note on Tuesday, February 11th. They set a “buy” rating and a $176.00 price objective for the company. Robert W. Baird upped their price target on shares of Axsome Therapeutics from $132.00 to $160.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Mizuho increased their price objective on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the stock an “outperform” rating in a report on Thursday, March 27th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $153.00 target price on shares of Axsome Therapeutics in a research note on Wednesday, February 19th. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.64.

Axsome Therapeutics Price Performance

AXSM opened at $109.75 on Tuesday. The company has a fifty day simple moving average of $120.62 and a 200 day simple moving average of $101.58. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of -18.32 and a beta of 1.00. Axsome Therapeutics has a twelve month low of $64.11 and a twelve month high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The firm had revenue of $118.77 million for the quarter, compared to analysts’ expectations of $117.83 million. Equities research analysts expect that Axsome Therapeutics will post -2.79 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Nick Pizzie sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares of the company’s stock, valued at $5,529,450.09. This trade represents a 6.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 22.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Several large investors have recently made changes to their positions in AXSM. Raiffeisen Bank International AG acquired a new stake in Axsome Therapeutics in the fourth quarter valued at approximately $51,000. Assetmark Inc. bought a new position in shares of Axsome Therapeutics during the 4th quarter valued at $52,000. R Squared Ltd acquired a new stake in shares of Axsome Therapeutics in the 4th quarter valued at $64,000. Aquatic Capital Management LLC bought a new stake in Axsome Therapeutics in the fourth quarter worth $76,000. Finally, GF Fund Management CO. LTD. bought a new stake in Axsome Therapeutics in the fourth quarter worth $86,000. Institutional investors 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.