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

Needham & Company LLC reaffirmed their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM - Free Report) in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a $153.00 target price on the stock.

AXSM has been the subject of a number of other reports. 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. Robert W. Baird increased their target price on shares of Axsome Therapeutics from $132.00 to $160.00 and gave the company an "outperform" rating in a research note on Monday. Cantor Fitzgerald restated an "overweight" rating and set a $153.00 price target on shares of Axsome Therapeutics in a research note on Wednesday, February 19th. Bank of America upped their price target on Axsome Therapeutics from $143.00 to $167.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Finally, William Blair reaffirmed an "outperform" rating on shares of Axsome Therapeutics in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, Axsome Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $167.36.

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Axsome Therapeutics Stock Down 0.6 %

Shares of NASDAQ AXSM traded down $0.69 during mid-day trading on Monday, reaching $124.41. 554,174 shares of the company traded hands, compared to its average volume of 1,040,204. The company's fifty day moving average is $107.34 and its two-hundred day moving average is $97.28. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. Axsome Therapeutics has a fifty-two week low of $64.11 and a fifty-two week high of $139.13. The stock has a market cap of $6.07 billion, a PE ratio of -20.77 and a beta of 0.99.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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, analysts expect 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 Axsome Therapeutics stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 42,187 shares in the company, valued at approximately $5,529,450.09. The trade was a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 22.40% of the company's stock.

Institutional Investors Weigh In On Axsome Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Pitcairn Co. grew its holdings in shares of Axsome Therapeutics by 3.4% during the fourth quarter. Pitcairn Co. now owns 4,562 shares of the company's stock worth $386,000 after purchasing an additional 148 shares during the last quarter. Meridian Wealth Management LLC lifted its position in Axsome Therapeutics by 0.7% during the 4th quarter. Meridian Wealth Management LLC now owns 21,171 shares of the company's stock worth $1,791,000 after buying an additional 150 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in Axsome Therapeutics by 4.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,852 shares of the company's stock worth $326,000 after acquiring an additional 162 shares during the last quarter. Arizona State Retirement System increased its position in Axsome Therapeutics by 1.8% in the 4th quarter. Arizona State Retirement System now owns 9,054 shares of the company's stock valued at $766,000 after acquiring an additional 164 shares in the last quarter. Finally, Intrust Bank NA raised its stake in shares of Axsome Therapeutics by 6.9% in the fourth quarter. Intrust Bank NA now owns 2,823 shares of the company's stock worth $239,000 after acquiring an additional 183 shares during the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

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.