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

Needham & Company LLC reiterated their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research note published on Monday morning,Benzinga reports. The firm currently has a $153.00 target price on the stock.

A number of other analysts also recently weighed in on the stock. HC Wainwright increased their price target on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, February 20th. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Leerink Partners increased their price target on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, February 10th. Bank of America raised their price objective on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $153.00 price objective on shares of Axsome Therapeutics in a report on Wednesday, February 19th. One analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $167.36.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $125.10 on Monday. The company’s fifty day moving average is $107.34 and its 200-day moving average is $97.28. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $139.13. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of -20.88 and a beta of 0.99. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The company had revenue of $118.77 million for the quarter, compared to analyst estimates of $117.83 million. Equities analysts expect that Axsome Therapeutics will post -2.79 EPS for the current fiscal year.

Insider Buying and Selling

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the sale, the chief financial officer now owns 42,187 shares in the company, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 22.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AXSM. Boxer Capital Management LLC acquired a new stake in Axsome Therapeutics in the 4th quarter valued at about $39,767,000. Lazard Asset Management LLC increased its position in Axsome Therapeutics by 525.7% in the 4th quarter. Lazard Asset Management LLC now owns 537,669 shares of the company’s stock valued at $45,492,000 after acquiring an additional 451,737 shares in the last quarter. Norges Bank acquired a new stake in Axsome Therapeutics in the 4th quarter valued at about $34,100,000. BVF Inc. IL increased its position in Axsome Therapeutics by 32.7% in the 4th quarter. BVF Inc. IL now owns 1,388,064 shares of the company’s stock valued at $117,444,000 after acquiring an additional 342,064 shares in the last quarter. Finally, Iron Triangle Partners LP acquired a new stake in Axsome Therapeutics in the 3rd quarter valued at about $22,671,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

Axsome Therapeutics Company Profile

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.