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

Needham & Company LLC reissued their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a report released on Monday morning,Benzinga reports. The brokerage currently has a $133.00 price target on the stock.

A number of other analysts have also issued reports on AXSM. Mizuho reduced their price target on shares of Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating for the company in a research report on Tuesday, December 31st. Robert W. Baird increased their price objective on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $121.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Axsome Therapeutics in a research report on Tuesday, December 31st. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $127.29.

Axsome Therapeutics Price Performance

NASDAQ AXSM opened at $82.57 on Monday. The company has a 50 day simple moving average of $92.62 and a 200-day simple moving average of $89.09. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of -12.64 and a beta of 1.04. Axsome Therapeutics has a 52-week low of $64.11 and a 52-week high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.04. The business had revenue of $104.76 million during the quarter, compared to analyst estimates 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 period in the prior year, the firm earned ($1.32) earnings per share. Equities research analysts predict that Axsome Therapeutics will post -4.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Axsome Therapeutics

Institutional investors have recently modified their holdings of the company. PDT Partners LLC bought a new position in Axsome Therapeutics during the third quarter worth $1,052,000. Captrust Financial Advisors bought a new position in Axsome Therapeutics during the third quarter worth $514,000. BNP Paribas Financial Markets boosted its stake in Axsome Therapeutics by 71.7% during the third quarter. BNP Paribas Financial Markets now owns 13,733 shares of the company’s stock worth $1,234,000 after buying an additional 5,737 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in Axsome Therapeutics during the third quarter worth $986,000. Finally, XTX Topco Ltd boosted its stake in Axsome Therapeutics by 177.9% during the second quarter. XTX Topco Ltd now owns 11,205 shares of the company’s stock worth $902,000 after buying an additional 7,173 shares in the last quarter. 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.