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

Needham & Company LLC reiterated their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research note issued to investors on Monday,Benzinga reports. The firm currently has a $133.00 price objective on the stock.

Several other research analysts have also issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $121.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, December 12th. Robert W. Baird increased their price objective on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Truist Financial increased their price objective on Axsome Therapeutics from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday. Mizuho dropped their price objective 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. Finally, StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $129.43.

Axsome Therapeutics Stock Performance

Shares of NASDAQ AXSM opened at $89.27 on Monday. The business has a fifty day simple moving average of $92.21 and a 200 day simple moving average of $89.22. 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 firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of -13.67 and a beta of 1.04. Axsome Therapeutics has a one year low of $64.11 and a one year high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. The business had revenue of $104.76 million during the quarter, compared to analyst estimates 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 period in the prior year, the company posted ($1.32) earnings per share. Sell-side analysts expect that Axsome Therapeutics will post -4.6 EPS for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Pallas Capital Advisors LLC bought a new position in Axsome Therapeutics in the fourth quarter valued at about $2,237,000. JPMorgan Chase & Co. boosted its holdings in Axsome Therapeutics by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock worth $19,062,000 after buying an additional 27,534 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Axsome Therapeutics by 47.5% during the third quarter. Franklin Resources Inc. now owns 160,534 shares of the company’s stock worth $13,713,000 after buying an additional 51,696 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Axsome Therapeutics by 2.7% during the third quarter. Geode Capital Management LLC now owns 908,459 shares of the company’s stock worth $81,659,000 after buying an additional 23,564 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Axsome Therapeutics by 279.6% during the third quarter. Barclays PLC now owns 61,785 shares of the company’s stock worth $5,552,000 after buying an additional 45,509 shares during the last quarter. 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.