Axsome Therapeutics’ (AXSM) “Buy” Rating Reaffirmed at Needham & Company LLC

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $133.00 target price on the stock. Needham & Company LLC’s target price would indicate a potential upside of 60.28% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Robert W. Baird boosted their price objective on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Royal Bank of Canada increased their price target on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Mizuho decreased their price objective on shares of Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 31st. Cantor Fitzgerald reissued an “overweight” rating and issued a $121.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, December 12th. Finally, Truist Financial raised their target price on shares of Axsome Therapeutics from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Monday. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $129.43.

Axsome Therapeutics Stock Performance

AXSM traded up $2.93 on Monday, hitting $82.98. The company’s stock had a trading volume of 126,969 shares, compared to its average volume of 765,308. The company’s 50 day simple moving average is $92.17 and its 200-day simple moving average is $89.16. The firm has a market cap of $4.02 billion, a P/E ratio of -12.71 and a beta of 1.04. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $105.00. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating the consensus estimate of ($1.38) by $0.04. The firm had revenue of $104.76 million for the quarter, compared to analysts’ expectations 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 company posted ($1.32) EPS. Analysts forecast that Axsome Therapeutics will post -4.6 EPS for the current year.

Institutional Trading of Axsome Therapeutics

Several large investors have recently made changes to their positions in the business. Arizona State Retirement System boosted its holdings in shares of Axsome Therapeutics by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock valued at $695,000 after acquiring an additional 177 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Axsome Therapeutics by 22.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after purchasing an additional 318 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Axsome Therapeutics in the 2nd quarter valued at $27,000. WCM Investment Management LLC lifted its stake in shares of Axsome Therapeutics by 0.3% in the 3rd quarter. WCM Investment Management LLC now owns 113,692 shares of the company’s stock valued at $10,191,000 after purchasing an additional 347 shares during the period. Finally, US Bancorp DE lifted its stake in shares of Axsome Therapeutics by 0.3% in the 3rd quarter. US Bancorp DE now owns 133,126 shares of the company’s stock valued at $11,964,000 after purchasing an additional 421 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.