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

Axsome Therapeutics (NASDAQ:AXSM) had its price objective lifted by research analysts at Needham & Company LLC from $225.00 to $255.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 23.47% from the stock’s previous close.

AXSM has been the subject of several other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Axsome Therapeutics in a report on Monday, April 20th. Royal Bank Of Canada increased their target price on shares of Axsome Therapeutics from $219.00 to $222.00 and gave the stock an “outperform” rating in a report on Tuesday, February 24th. UBS Group increased their target price on shares of Axsome Therapeutics from $251.00 to $259.00 and gave the stock a “buy” rating in a report on Friday, April 10th. Piper Sandler increased their target price on shares of Axsome Therapeutics from $148.00 to $223.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Finally, HC Wainwright increased their target price on shares of Axsome Therapeutics from $200.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.18.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock traded down $1.22 on Friday, hitting $206.53. 1,255,092 shares of the company’s stock were exchanged, compared to its average volume of 676,222. The company has a 50-day simple moving average of $170.95 and a 200-day simple moving average of $162.12. The stock has a market capitalization of $10.62 billion, a PE ratio of -55.97 and a beta of 0.48. Axsome Therapeutics has a 1 year low of $96.09 and a 1 year high of $217.00. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.48 and a current ratio of 1.55.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Monday, February 23rd. The company reported ($0.56) earnings per share for the quarter, topping the consensus estimate of ($0.70) by $0.14. The business had revenue of $196.00 million for the quarter, compared to analysts’ expectations of $191.33 million. Axsome Therapeutics had a negative net margin of 28.69% and a negative return on equity of 232.61%. The business’s quarterly revenue was up 65.0% compared to the same quarter last year. As a group, equities analysts anticipate that Axsome Therapeutics will post -1.22 EPS for the current year.

Insiders Place Their Bets

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 35,378 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $161.88, for a total value of $5,726,990.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Herriot Tabuteau sold 32,410 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $185.60, for a total value of $6,015,296.00. Following the completion of the transaction, the chief executive officer owned 7,229 shares of the company’s stock, valued at $1,341,702.40. The trade was a 81.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 100,288 shares of company stock valued at $17,138,187. 22.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Large investors have recently bought and sold shares of the business. Versant Capital Management Inc increased its position in Axsome Therapeutics by 20,300.0% in the third quarter. Versant Capital Management Inc now owns 204 shares of the company’s stock worth $25,000 after purchasing an additional 203 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in Axsome Therapeutics in the fourth quarter worth $31,000. First Horizon Corp bought a new stake in Axsome Therapeutics in the third quarter worth $34,000. Optiver Holding B.V. increased its position in Axsome Therapeutics by 82.3% in the third quarter. Optiver Holding B.V. now owns 288 shares of the company’s stock worth $35,000 after purchasing an additional 130 shares during the last quarter. Finally, Ameriflex Group Inc. bought a new stake in Axsome Therapeutics in the fourth quarter worth $37,000. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.