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

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

A number of other research analysts have also weighed in on AXSM. Royal Bank of Canada lifted their price objective on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 target price on shares of Axsome Therapeutics in a report on Monday, September 16th. UBS Group decreased their price target on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Bank of America upgraded Axsome Therapeutics from a “neutral” rating to a “buy” rating and raised their price objective for the company from $95.00 to $106.00 in a research note on Tuesday, August 6th. Finally, StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.64.

Axsome Therapeutics Price Performance

Shares of NASDAQ:AXSM opened at $99.49 on Tuesday. The stock’s 50 day moving average is $90.55 and its 200-day moving average is $83.95. Axsome Therapeutics has a twelve month low of $55.02 and a twelve month high of $101.50. The company has a quick ratio of 2.40, a current ratio of 2.48 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of -15.28 and a beta of 1.26.

Insiders Place Their Bets

In other news, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the transaction, the director now owns 10,002 shares of the company’s stock, valued at $913,282.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 22.40% of the company’s stock.

Institutional Trading of Axsome Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Axsome Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock valued at $298,474,000 after purchasing an additional 43,512 shares during the period. Bellevue Group AG raised its stake in shares of Axsome Therapeutics by 7.9% during the 1st quarter. Bellevue Group AG now owns 685,476 shares of the company’s stock valued at $54,701,000 after purchasing an additional 50,104 shares during the period. XTX Topco Ltd raised its stake in shares of Axsome Therapeutics by 177.9% during the 2nd quarter. XTX Topco Ltd now owns 11,205 shares of the company’s stock valued at $902,000 after purchasing an additional 7,173 shares during the period. Tri Locum Partners LP raised its stake 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 valued at $24,674,000 after purchasing an additional 203,802 shares during the period. Finally, Blair William & Co. IL raised its stake in shares of Axsome Therapeutics by 645.9% during the 1st 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. 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.