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

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a report issued on Monday,Benzinga reports. They presently have a $133.00 price objective on the stock. Needham & Company LLC’s price target suggests a potential upside of 1.65% from the stock’s previous close.

Several other research analysts have also weighed in on AXSM. HC Wainwright lifted their target price on Axsome Therapeutics from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, January 31st. StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Cantor Fitzgerald reiterated an “overweight” rating and set a $121.00 target price on shares of Axsome Therapeutics in a report on Thursday, December 12th. Mizuho lifted their target price on Axsome Therapeutics from $122.00 to $137.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $139.00 target price on shares of Axsome Therapeutics in a report on Wednesday, January 29th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $134.00.

Axsome Therapeutics Trading Up 23.7 %

AXSM traded up $25.08 during mid-day trading on Monday, reaching $130.84. The stock had a trading volume of 2,861,631 shares, compared to its average volume of 1,031,615. The stock has a market capitalization of $6.34 billion, a P/E ratio of -19.95 and a beta of 1.05. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. The firm’s fifty day simple moving average is $94.72 and its two-hundred day simple moving average is $91.78. Axsome Therapeutics has a 52 week low of $64.11 and a 52 week high of $132.25.

Axsome Therapeutics (NASDAQ:AXSM) last announced 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. The firm had revenue of $104.76 million for the quarter, compared to analyst estimates 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 period last year, the company earned ($1.32) EPS. On average, equities analysts predict that Axsome Therapeutics will post -4.7 EPS for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC grew its position in shares of Axsome Therapeutics by 20.6% in the third quarter. FMR LLC now owns 1,088,087 shares of the company’s stock valued at $97,786,000 after purchasing an additional 185,951 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Axsome Therapeutics by 2.7% in the third quarter. Geode Capital Management LLC now owns 908,459 shares of the company’s stock valued at $81,659,000 after purchasing an additional 23,564 shares during the last quarter. Wellington Management Group LLP grew its position in Axsome Therapeutics by 1.1% during the third quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock worth $66,750,000 after buying an additional 8,125 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Axsome Therapeutics by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 328,034 shares of the company’s stock worth $27,755,000 after buying an additional 5,438 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its position in Axsome Therapeutics by 11.0% during the third quarter. Loomis Sayles & Co. L P now owns 298,586 shares of the company’s stock worth $26,834,000 after buying an additional 29,497 shares in the last quarter. 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.