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

Needham & Company LLC reaffirmed their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research report sent to investors on Monday morning,Benzinga reports. They currently have a $133.00 target price on the stock.

AXSM has been the topic of several other research reports. Royal Bank of Canada restated an “outperform” rating and issued a $139.00 target price on shares of Axsome Therapeutics in a report on Wednesday, January 29th. HC Wainwright raised their price objective on shares of Axsome Therapeutics from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Truist Financial raised their price target on shares of Axsome Therapeutics from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Robert W. Baird boosted their target price on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $121.00 price objective on shares of Axsome Therapeutics in a report on Thursday, December 12th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.13.

Axsome Therapeutics Price Performance

Shares of NASDAQ:AXSM opened at $131.55 on Monday. The firm has a market cap of $6.37 billion, a PE ratio of -20.15 and a beta of 1.05. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. Axsome Therapeutics has a 52 week low of $64.11 and a 52 week high of $134.18. The firm’s fifty day moving average is $96.55 and its 200-day moving average is $92.67.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results 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. 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 during the quarter, compared to analysts’ expectations of $98.71 million. During the same quarter in the prior year, the firm posted ($1.32) earnings per share. Sell-side analysts predict that Axsome Therapeutics will post -4.7 earnings per share for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in shares of Axsome Therapeutics by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock valued at $19,062,000 after purchasing an additional 27,534 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Axsome Therapeutics in the fourth quarter worth approximately $2,599,000. PDT Partners LLC bought a new stake in Axsome Therapeutics during the third quarter valued at approximately $1,052,000. Pallas Capital Advisors LLC bought a new position in shares of Axsome Therapeutics in the 4th quarter worth $2,237,000. Finally, Captrust Financial Advisors bought a new stake in shares of Axsome Therapeutics during the 3rd quarter worth $514,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

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.