Axsome Therapeutics (NASDAQ:AXSM) Given Buy Rating at Needham & Company LLC

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Needham & Company LLC in a research note issued on Monday,Benzinga reports. They presently have a $130.00 price target on the stock. Needham & Company LLC's price objective points to a potential upside of 53.34% from the stock's previous close.

A number of other research firms have also recently commented on AXSM. StockNews.com upgraded shares of Axsome Therapeutics from a "sell" rating to a "hold" rating in a report on Wednesday, November 20th. Wells Fargo & Company initiated coverage on Axsome Therapeutics in a research note on Tuesday, September 3rd. They set an "overweight" rating and a $140.00 target price on the stock. Royal Bank of Canada boosted their price target on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an "outperform" rating in a research note on Friday, October 4th. HC Wainwright reaffirmed a "buy" rating and set a $180.00 price objective on shares of Axsome Therapeutics in a research report on Monday, November 25th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $121.00 price objective on shares of Axsome Therapeutics in a report on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $125.93.

Axsome Therapeutics Stock Down 2.2 %

NASDAQ:AXSM traded down $1.92 during trading hours on Monday, reaching $84.78. 3,532,950 shares of the company traded hands, compared to its average volume of 621,184. Axsome Therapeutics has a 1 year low of $64.11 and a 1 year high of $105.00. The stock has a market capitalization of $4.11 billion, a P/E ratio of -12.98 and a beta of 1.18. The business's 50-day moving average price is $93.26 and its two-hundred day moving average price is $88.67. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The firm had revenue of $104.76 million during the quarter, compared to analyst estimates of $98.71 million. During the same quarter in the previous year, the firm earned ($1.32) EPS. Analysts predict that Axsome Therapeutics will post -4.6 earnings per share for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

Institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in shares of Axsome Therapeutics by 7.7% in the second quarter. Bank of New York Mellon Corp now owns 165,564 shares of the company's stock worth $13,328,000 after buying an additional 11,793 shares during the period. Rhumbline Advisers lifted its holdings in Axsome Therapeutics by 5.1% during the second quarter. Rhumbline Advisers now owns 54,931 shares of the company's stock valued at $4,422,000 after purchasing an additional 2,674 shares in the last quarter. Arizona State Retirement System boosted 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 worth $695,000 after purchasing an additional 177 shares during the period. Torray Investment Partners LLC increased its stake in shares of Axsome Therapeutics by 11.5% in the second quarter. Torray Investment Partners LLC now owns 11,747 shares of the company's stock worth $946,000 after purchasing an additional 1,209 shares in the last quarter. Finally, WINTON GROUP Ltd raised its position in shares of Axsome Therapeutics by 156.6% during the 2nd quarter. WINTON GROUP Ltd now owns 8,823 shares of the company's stock valued at $710,000 after purchasing an additional 5,385 shares during the period. 81.49% of the stock is owned by institutional investors.

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.