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

Needham & Company LLC restated their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research note released on Monday,Benzinga reports. They currently have a $153.00 price target on the stock.

Several other research analysts have also weighed in on AXSM. Wells Fargo & Company lifted their price objective on shares of Axsome Therapeutics from $140.00 to $160.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. HC Wainwright lifted their price objective on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Mizuho lifted their price objective on shares of Axsome Therapeutics from $195.00 to $212.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Bank of America lifted their price objective on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Finally, William Blair reissued an “outperform” rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $167.36.

Axsome Therapeutics Stock Down 0.4 %

Shares of NASDAQ:AXSM opened at $125.10 on Monday. Axsome Therapeutics has a one year low of $64.11 and a one year high of $139.13. The company has a 50 day moving average of $107.34 and a 200-day moving average of $97.28. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of -20.88 and a beta of 0.99.

Axsome Therapeutics (NASDAQ:AXSM) last issued 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 during the quarter, compared to analysts’ expectations of $117.83 million. On average, sell-side analysts forecast that Axsome Therapeutics will post -2.79 earnings per share for the current year.

Insider Buying and Selling at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the sale, the chief financial officer now owns 42,187 shares of the company’s stock, valued at $5,529,450.09. The trade was a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 22.40% of the company’s stock.

Institutional Trading of Axsome Therapeutics

Institutional investors have recently made changes to their positions in the business. Raiffeisen Bank International AG bought a new stake in shares of Axsome Therapeutics in the fourth quarter worth $51,000. Assetmark Inc. bought a new stake in shares of Axsome Therapeutics in the fourth quarter worth $52,000. R Squared Ltd bought a new stake in shares of Axsome Therapeutics in the fourth quarter worth $64,000. Aquatic Capital Management LLC bought a new stake in shares of Axsome Therapeutics in the fourth quarter worth $76,000. Finally, GF Fund Management CO. LTD. acquired a new position in Axsome Therapeutics during the fourth quarter worth $86,000. 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.