Needham & Company LLC Forecasts Strong Price Appreciation for Axsome Therapeutics (NASDAQ:AXSM) Stock

Axsome Therapeutics (NASDAQ:AXSM) had its target price hoisted by Needham & Company LLC from $133.00 to $153.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 19.45% from the stock’s previous close.

Several other research firms also recently weighed in on AXSM. Leerink Partners upped their price objective on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. Truist Financial increased their target price on Axsome Therapeutics from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft started coverage on Axsome Therapeutics in a report on Tuesday, February 11th. They issued a “buy” rating and a $176.00 price target on the stock. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $139.00 price objective on shares of Axsome Therapeutics in a research report on Wednesday, January 29th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $148.47.

Axsome Therapeutics Price Performance

Axsome Therapeutics stock opened at $128.09 on Wednesday. Axsome Therapeutics has a 52 week low of $64.11 and a 52 week high of $134.18. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. The stock has a market capitalization of $6.21 billion, a P/E ratio of -19.62 and a beta of 1.05. The stock has a fifty day moving average of $98.47 and a 200-day moving average of $93.68.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. On average, sell-side analysts expect that Axsome Therapeutics will post -4.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the transaction, the chief financial officer now directly owns 42,187 shares in the company, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of AXSM. Raiffeisen Bank International AG bought a new stake in Axsome Therapeutics during the 4th quarter worth approximately $51,000. Assetmark Inc. purchased a new stake in shares of Axsome Therapeutics during the 4th quarter worth approximately $52,000. R Squared Ltd bought a new position in Axsome Therapeutics during the fourth quarter valued at $64,000. Aquatic Capital Management LLC bought a new position in shares of Axsome Therapeutics in the 4th quarter valued at about $76,000. Finally, GF Fund Management CO. LTD. purchased a new position in shares of Axsome Therapeutics in the 4th quarter worth approximately $86,000. 81.49% of the stock is currently 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.