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

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

Other analysts have also recently issued reports about the company. Cantor Fitzgerald reissued an “overweight” rating and set a $121.00 price objective on shares of Axsome Therapeutics in a report on Thursday, December 12th. Mizuho lowered their price target 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. HC Wainwright reaffirmed a “buy” rating on shares of Axsome Therapeutics in a research note on Tuesday, December 31st. Royal Bank of Canada upped their price target on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Robert W. Baird upped their price target on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $127.29.

Axsome Therapeutics Stock Performance

Axsome Therapeutics stock opened at $82.57 on Monday. The stock has a 50-day simple moving average of $92.62 and a 200 day simple moving average of $89.09. 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 has a 12-month low of $64.11 and a 12-month high of $105.00. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of -12.64 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) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. During the same period in the previous year, the business posted ($1.32) earnings per share. On average, research analysts anticipate that Axsome Therapeutics will post -4.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Axsome Therapeutics

Large investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Axsome Therapeutics in the 2nd quarter valued at approximately $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Axsome Therapeutics in the 2nd quarter valued at approximately $47,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings 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 buying an additional 318 shares during the last quarter. Moors & Cabot Inc. acquired a new stake in shares of Axsome Therapeutics in the 3rd quarter valued at approximately $200,000. Finally, Whalen Wealth Management Inc. bought a new stake in Axsome Therapeutics in the 3rd quarter valued at $236,000. Institutional investors and hedge funds 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.