Axsome Therapeutics (NASDAQ:AXSM) Earns Buy Rating from Needham & Company LLC

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a report issued on Monday,Benzinga reports. They presently have a $130.00 target price on the stock. Needham & Company LLC’s target price suggests a potential upside of 53.65% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company initiated coverage on shares of Axsome Therapeutics in a research note on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 target price for the company. 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. HC Wainwright restated a “buy” rating and issued a $180.00 target price on shares of Axsome Therapeutics in a research note on Monday, November 25th. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada lifted their price objective on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, October 4th. 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.07.

Axsome Therapeutics Stock Down 0.2 %

Shares of Axsome Therapeutics stock opened at $84.61 on Monday. The company has a market capitalization of $4.10 billion, a P/E ratio of -12.96 and a beta of 1.18. 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 business has a 50-day moving average of $93.10 and a two-hundred day moving average of $88.75. Axsome Therapeutics has a 1 year low of $64.11 and a 1 year high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The firm had revenue of $104.76 million for the quarter, compared to the consensus estimate of $98.71 million. During the same period last year, the company posted ($1.32) EPS. As a group, equities analysts predict that Axsome Therapeutics will post -4.6 EPS for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Arizona State Retirement System lifted its position in shares of Axsome Therapeutics by 2.1% in the second quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock valued at $695,000 after buying an additional 177 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Axsome Therapeutics by 22.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after purchasing an additional 318 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in Axsome Therapeutics during the second quarter worth $27,000. WCM Investment Management LLC increased its holdings in shares of Axsome Therapeutics by 0.3% in the third quarter. WCM Investment Management LLC now owns 113,692 shares of the company’s stock valued at $10,191,000 after purchasing an additional 347 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of Axsome Therapeutics by 0.3% in the third quarter. US Bancorp DE now owns 133,126 shares of the company’s stock valued at $11,964,000 after purchasing an additional 421 shares during the period. 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.