Axsome Therapeutics’ (AXSM) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a report released on Monday morning,Benzinga reports. Needham & Company LLC currently has a $133.00 target price on the stock.

A number of other equities research analysts have also recently commented on the stock. Truist Financial increased their price target on shares of Axsome Therapeutics from $150.00 to $180.00 and gave the company a “buy” rating in a report on Monday. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Royal Bank of Canada lifted their target price on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Robert W. Baird upped their price target on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $121.00 price objective on shares of Axsome Therapeutics in a report on Thursday, December 12th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Axsome Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $129.43.

Axsome Therapeutics Trading Up 10.8 %

NASDAQ:AXSM opened at $93.75 on Monday. The company has a 50-day moving average price of $92.18 and a 200-day moving average price of $89.28. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of -14.36 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 12 month low of $64.11 and a 12 month high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping 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 company had revenue of $104.76 million during the quarter, compared to the consensus estimate of $98.71 million. During the same period in the prior year, the firm earned ($1.32) earnings per share. Equities analysts predict that Axsome Therapeutics will post -4.6 EPS for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in AXSM. Rhumbline Advisers raised its position in Axsome Therapeutics by 5.1% in the second quarter. Rhumbline Advisers now owns 54,931 shares of the company’s stock worth $4,422,000 after acquiring an additional 2,674 shares during the period. Arizona State Retirement System lifted its position in Axsome Therapeutics by 2.1% during the second 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 in the last quarter. WINTON GROUP Ltd lifted its position in Axsome Therapeutics by 156.6% during the second quarter. WINTON GROUP Ltd now owns 8,823 shares of the company’s stock valued at $710,000 after purchasing an additional 5,385 shares in the last quarter. Sofinnova Investments Inc. bought a new stake in Axsome Therapeutics during the second quarter valued at about $24,971,000. Finally, XTX Topco Ltd increased its position in Axsome Therapeutics by 177.9% in the second quarter. XTX Topco Ltd now owns 11,205 shares of the company’s stock worth $902,000 after buying an additional 7,173 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

About Axsome Therapeutics

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.