Axsome Therapeutics' (AXSM) Buy Rating Reiterated at Needham & Company LLC

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report)'s stock had its "buy" rating reiterated by analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They currently have a $130.00 price target on the stock. Needham & Company LLC's price target points to a potential upside of 31.34% from the stock's previous close.

Other analysts have also issued research reports about the company. Wells Fargo & Company began coverage on Axsome Therapeutics in a report on Tuesday, September 3rd. They issued an "overweight" rating and a $140.00 price objective for the company. Cantor Fitzgerald reissued an "overweight" rating and set a $107.00 target price on shares of Axsome Therapeutics in a research note on Monday, September 16th. StockNews.com upgraded shares of Axsome Therapeutics from a "sell" rating to a "hold" rating in a research report on Tuesday, October 1st. Bank of America raised Axsome Therapeutics from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $95.00 to $106.00 in a research note on Tuesday, August 6th. Finally, Royal Bank of Canada upped their target price on Axsome Therapeutics from $130.00 to $131.00 and gave the company an "outperform" rating in a report on Friday, October 4th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $124.64.

Axsome Therapeutics Stock Performance

AXSM stock traded up $8.00 on Tuesday, reaching $98.98. The company's stock had a trading volume of 1,287,395 shares, compared to its average volume of 616,966. The company has a market capitalization of $4.70 billion, a P/E ratio of -15.53 and a beta of 1.26. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.48 and a quick ratio of 2.40. Axsome Therapeutics has a 52 week low of $55.02 and a 52 week high of $101.50. The firm has a fifty day moving average of $90.31 and a two-hundred day moving average of $83.62.

Insider Buying and Selling at Axsome Therapeutics

In other news, Director Mark E. Saad sold 11,016 shares of the business's stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total value of $1,005,870.96. Following the completion of the sale, the director now directly owns 10,002 shares in the company, valued at approximately $913,282.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 22.40% of the company's stock.

Institutional Trading of Axsome Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Axsome Therapeutics by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company's stock worth $298,474,000 after purchasing an additional 43,512 shares during the last quarter. Bellevue Group AG raised its holdings in Axsome Therapeutics by 7.9% in the 1st quarter. Bellevue Group AG now owns 685,476 shares of the company's stock valued at $54,701,000 after acquiring an additional 50,104 shares in the last quarter. XTX Topco Ltd lifted its position in shares of Axsome Therapeutics by 177.9% in the 2nd quarter. XTX Topco Ltd now owns 11,205 shares of the company's stock worth $902,000 after acquiring an additional 7,173 shares during the period. Tri Locum Partners LP grew its holdings in shares of Axsome Therapeutics by 198.4% during the 2nd quarter. Tri Locum Partners LP now owns 306,513 shares of the company's stock worth $24,674,000 after purchasing an additional 203,802 shares in the last quarter. Finally, Blair William & Co. IL increased its position in shares of Axsome Therapeutics by 645.9% during the first quarter. Blair William & Co. IL now owns 63,547 shares of the company's stock valued at $5,071,000 after purchasing an additional 55,027 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.