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

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $130.00 price objective on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 36.04% from the company’s previous close.

AXSM has been the topic of several other research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $107.00 price objective on shares of Axsome Therapeutics in a research report on Friday, July 26th. UBS Group reduced their price objective on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Royal Bank of Canada reduced their price objective on shares of Axsome Therapeutics from $131.00 to $130.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. StockNews.com cut shares of Axsome Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. Finally, HC Wainwright restated a “buy” rating and issued a $180.00 price target on shares of Axsome Therapeutics in a research report on Thursday. One equities research analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $124.57.

Axsome Therapeutics Price Performance

Shares of NASDAQ:AXSM opened at $95.56 on Thursday. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.48 and a quick ratio of 2.40. Axsome Therapeutics has a 1-year low of $55.02 and a 1-year high of $98.40. The company has a market capitalization of $4.54 billion, a P/E ratio of -14.98 and a beta of 1.26. The firm’s 50 day simple moving average is $85.18 and its two-hundred day simple moving average is $78.70.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Monday, August 5th. The company reported ($1.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.30) by $0.06. The firm had revenue of $87.17 million for the quarter, compared to analysts’ expectations of $84.53 million. Axsome Therapeutics had a negative net margin of 105.85% and a negative return on equity of 117.46%. Research analysts expect that Axsome Therapeutics will post -4.72 EPS for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 47,739 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the transaction, the chief operating officer now owns 5,783 shares in the company, valued at $487,275.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 22.40% of the company’s stock.

Institutional Trading of Axsome Therapeutics

A number of large investors have recently made changes to their positions in AXSM. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Axsome Therapeutics during the second quarter valued at $27,000. EntryPoint Capital LLC purchased a new stake in shares of Axsome Therapeutics during the first quarter valued at $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Axsome Therapeutics during the second quarter valued at $47,000. Russell Investments Group Ltd. boosted its stake in shares of Axsome Therapeutics by 5,550.0% during the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock valued at $63,000 after purchasing an additional 777 shares during the period. Finally, Covestor Ltd boosted its stake in shares of Axsome Therapeutics by 54,750.0% during the first quarter. Covestor Ltd now owns 1,097 shares of the company’s stock valued at $88,000 after purchasing an additional 1,095 shares during the period. 81.49% of the stock is owned by hedge funds and other institutional investors.

Axsome Therapeutics Company Profile

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.