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

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report)'s stock had its "buy" rating restated by stock analysts at Needham & Company LLC in a research note issued on Tuesday,Benzinga reports. They presently have a $153.00 target price on the stock. Needham & Company LLC's target price points to a potential upside of 54.76% from the company's current price.

AXSM has been the subject of several other research reports. William Blair reiterated an "outperform" rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. Robert W. Baird raised their price target on Axsome Therapeutics from $132.00 to $160.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. Wells Fargo & Company boosted their price objective on Axsome Therapeutics from $140.00 to $160.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Mizuho increased their price objective on Axsome Therapeutics from $212.00 to $216.00 and gave the stock an "outperform" rating in a report on Thursday, March 27th. Finally, Leerink Partners upped their price target on Axsome Therapeutics from $110.00 to $150.00 and gave the company an "outperform" rating in a research report on Monday, February 10th. One analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $167.64.

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Axsome Therapeutics Stock Performance

NASDAQ:AXSM traded down $9.03 during trading on Tuesday, reaching $98.86. The company's stock had a trading volume of 990,570 shares, compared to its average volume of 663,752. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of -16.50 and a beta of 0.88. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $139.13. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. The firm has a 50 day moving average of $120.62 and a 200-day moving average of $101.67.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.01. The business had revenue of $118.77 million for the quarter, compared to analyst estimates of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. Research analysts expect that Axsome Therapeutics will post -2.79 EPS for the current fiscal year.

Insider Activity

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 22.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Axsome Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AXSM. Pitcairn Co. increased its position in shares of Axsome Therapeutics by 3.4% in the fourth quarter. Pitcairn Co. now owns 4,562 shares of the company's stock valued at $386,000 after acquiring an additional 148 shares during the period. Meridian Wealth Management LLC grew its position in shares of Axsome Therapeutics by 0.7% in 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 during the last quarter. Summit Investment Advisors Inc. increased its stake in shares of Axsome Therapeutics by 4.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,852 shares of the company's stock valued at $326,000 after buying an additional 162 shares during the period. Arizona State Retirement System increased its stake in shares of Axsome Therapeutics by 1.8% during the fourth quarter. Arizona State Retirement System now owns 9,054 shares of the company's stock valued at $766,000 after buying an additional 164 shares during the period. Finally, Intrust Bank NA raised its holdings in shares of Axsome Therapeutics by 6.9% during the fourth quarter. Intrust Bank NA now owns 2,823 shares of the company's stock valued at $239,000 after acquiring an additional 183 shares in the last quarter. 81.49% of the stock is currently 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.