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

Axsome Therapeutics (NASDAQ:AXSMGet Free Report)‘s stock had its “buy” rating restated by Needham & Company LLC in a note issued to investors on Monday,Benzinga reports. They presently have a $133.00 target price on the stock. Needham & Company LLC’s price objective suggests a potential upside of 58.75% from the company’s current price.

Several other research analysts also recently issued reports on AXSM. Cantor Fitzgerald reissued an “overweight” rating and set a $121.00 price objective on shares of Axsome Therapeutics in a report on Thursday, December 12th. Robert W. Baird increased their price target on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Mizuho reduced their price objective on Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating on the stock in a report on Tuesday, December 31st. Finally, Royal Bank of Canada lifted their target price on 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 given a buy rating to the company. According to data from MarketBeat.com, Axsome Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $127.29.

View Our Latest Stock Analysis on Axsome Therapeutics

Axsome Therapeutics Stock Performance

NASDAQ:AXSM opened at $83.78 on Monday. The stock has a market capitalization of $4.06 billion, a P/E ratio of -12.83 and a beta of 1.04. 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 has a 1 year low of $64.11 and a 1 year high of $105.00. The firm has a 50 day moving average of $92.62 and a 200-day moving average of $89.09.

Axsome Therapeutics (NASDAQ:AXSMGet Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.38) by $0.04. The firm had revenue of $104.76 million during the quarter, compared to the consensus estimate of $98.71 million. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. During the same quarter in the previous year, the company posted ($1.32) EPS. As a group, sell-side analysts anticipate that Axsome Therapeutics will post -4.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Axsome Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its holdings in Axsome Therapeutics by 7.7% during the second quarter. Bank of New York Mellon Corp now owns 165,564 shares of the company’s stock worth $13,328,000 after acquiring an additional 11,793 shares in the last quarter. Rhumbline Advisers grew its position in shares of Axsome Therapeutics by 5.1% in the 2nd 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 during the period. Arizona State Retirement System grew its position in shares of Axsome Therapeutics by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock valued at $695,000 after purchasing an additional 177 shares during the period. WINTON GROUP Ltd increased its stake in Axsome Therapeutics by 156.6% during the 2nd quarter. WINTON GROUP Ltd now owns 8,823 shares of the company’s stock worth $710,000 after purchasing an additional 5,385 shares in the last quarter. Finally, Sofinnova Investments Inc. acquired a new stake in Axsome Therapeutics during the 2nd quarter worth approximately $24,971,000. 81.49% of the stock is owned by institutional investors.

About Axsome Therapeutics

(Get Free Report)

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.

Recommended Stories

Analyst Recommendations for Axsome Therapeutics (NASDAQ:AXSM)

Receive News & Ratings for Axsome Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axsome Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.