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 research note issued to investors on Monday,Benzinga reports. The brokerage currently has a $133.00 price target on the stock.

Several other equities analysts have also recently weighed in on AXSM. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Robert W. Baird lifted their target price on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Truist Financial upped their price objective on Axsome Therapeutics from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Monday. HC Wainwright reissued a “buy” rating on shares of Axsome Therapeutics in a report on Tuesday, December 31st. Finally, 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. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Axsome Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $129.43.

Axsome Therapeutics Price Performance

NASDAQ:AXSM opened at $93.75 on Monday. The stock has a market cap of $4.54 billion, a PE ratio of -14.36 and a beta of 1.04. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. The business’s 50-day simple moving average is $92.18 and its two-hundred day simple moving average is $89.28. Axsome Therapeutics has a 52 week low of $64.11 and a 52 week high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $104.76 million for the quarter, compared to the consensus estimate of $98.71 million. During the same quarter last year, the company earned ($1.32) EPS. As a group, analysts forecast that Axsome Therapeutics will post -4.6 EPS for the current fiscal year.

Institutional Trading of Axsome Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its position in shares of Axsome Therapeutics by 5.1% during the second quarter. Rhumbline Advisers now owns 54,931 shares of the company’s stock valued at $4,422,000 after buying an additional 2,674 shares during the period. Arizona State Retirement System lifted its stake in shares of Axsome Therapeutics by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock worth $695,000 after acquiring an additional 177 shares during the last quarter. WINTON GROUP Ltd boosted its holdings in Axsome Therapeutics by 156.6% during the 2nd quarter. WINTON GROUP Ltd now owns 8,823 shares of the company’s stock valued at $710,000 after acquiring an additional 5,385 shares during the period. Sofinnova Investments Inc. bought a new position in Axsome Therapeutics in the 2nd quarter valued at $24,971,000. Finally, XTX Topco Ltd increased its stake in Axsome Therapeutics by 177.9% in the second quarter. XTX Topco Ltd now owns 11,205 shares of the company’s stock worth $902,000 after purchasing an additional 7,173 shares during the period. 81.49% of the stock is owned by hedge funds and other 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.