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

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a report released on Monday,Benzinga reports. They currently have a $133.00 price objective on the stock. Needham & Company LLC’s price objective suggests a potential upside of 58.75% from the stock’s current price.

A number of other research firms have also weighed in on AXSM. Robert W. Baird boosted their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. HC Wainwright reissued a “buy” rating on shares of Axsome Therapeutics in a research report on Tuesday, December 31st. Mizuho decreased their target price 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $121.00 price target on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Finally, Royal Bank of Canada upped their price target on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $127.29.

Axsome Therapeutics Stock Down 1.6 %

Shares of AXSM stock opened at $83.78 on Monday. The stock’s 50 day simple moving average is $92.62 and its 200 day simple moving average is $89.09. Axsome Therapeutics has a twelve month low of $64.11 and a twelve month high of $105.00. 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 company has a market capitalization of $4.06 billion, a price-to-earnings ratio of -12.83 and a beta of 1.04.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly 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 company had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same quarter last year, the firm posted ($1.32) earnings per share. As a group, research analysts predict that Axsome Therapeutics will post -4.6 EPS for the current year.

Institutional Trading of Axsome Therapeutics

Several institutional investors have recently made changes to their positions in AXSM. JPMorgan Chase & Co. raised its position in Axsome Therapeutics by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock worth $19,062,000 after purchasing an additional 27,534 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Axsome Therapeutics by 47.5% in the 3rd 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of Axsome Therapeutics by 2.7% during the 3rd 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 period. Barclays PLC boosted its stake in Axsome Therapeutics by 279.6% in the 3rd quarter. Barclays PLC now owns 61,785 shares of the company’s stock valued at $5,552,000 after buying an additional 45,509 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Axsome Therapeutics by 1.1% in the third quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock valued at $66,750,000 after acquiring an additional 8,125 shares during the period. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.