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

Needham & Company LLC reiterated their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research report released on Monday,Benzinga reports. Needham & Company LLC currently has a $130.00 target price on the stock.

A number of other research analysts have also recently weighed in on the stock. Robert W. Baird raised their price objective on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and set a $180.00 price target on shares of Axsome Therapeutics in a research report on Monday, November 25th. StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $121.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, December 12th. Finally, Royal Bank of Canada boosted their target price on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $127.07.

Axsome Therapeutics Stock Down 0.2 %

Axsome Therapeutics stock opened at $84.61 on Monday. Axsome Therapeutics has a fifty-two week low of $64.11 and a fifty-two week high of $105.00. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of -12.96 and a beta of 1.18. The stock’s fifty day moving average is $92.95 and its two-hundred day moving average is $88.72. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The firm had revenue of $104.76 million for the quarter, compared to analysts’ expectations of $98.71 million. During the same period in the prior year, the company earned ($1.32) EPS. Analysts predict that Axsome Therapeutics will post -4.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Axsome Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sofinnova Investments Inc. acquired a new position in shares of Axsome Therapeutics in the 2nd quarter valued at $24,971,000. Iron Triangle Partners LP acquired a new position in Axsome Therapeutics in the third quarter valued at $22,671,000. Tri Locum Partners LP grew its position in Axsome Therapeutics by 198.4% during the second quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock valued at $24,674,000 after acquiring an additional 203,802 shares during the period. FMR LLC increased its stake in Axsome Therapeutics by 20.6% during the third quarter. FMR LLC now owns 1,088,087 shares of the company’s stock worth $97,786,000 after acquiring an additional 185,951 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Axsome Therapeutics by 47.5% in the 3rd quarter. Franklin Resources Inc. now owns 160,534 shares of the company’s stock worth $13,713,000 after purchasing an additional 51,696 shares during the period. Institutional investors and hedge funds own 81.49% of the company’s stock.

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.