Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $153.00 at Needham & Company LLC

Axsome Therapeutics (NASDAQ:AXSM) had its price target lifted by Needham & Company LLC from $133.00 to $153.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also issued research reports about the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $139.00 price target on shares of Axsome Therapeutics in a report on Wednesday, January 29th. Leerink Partners upped their target price on Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Wells Fargo & Company lifted their price objective on Axsome Therapeutics from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, 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. One analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $157.64.

Axsome Therapeutics Stock Up 6.7 %

NASDAQ:AXSM opened at $137.75 on Wednesday. The stock has a fifty day simple moving average of $101.29 and a 200-day simple moving average of $94.84. The company has a current ratio of 2.11, a quick ratio of 2.37 and a debt-to-equity ratio of 3.22. The company has a market cap of $6.72 billion, a price-to-earnings ratio of -23.00 and a beta of 1.05. Axsome Therapeutics has a twelve month low of $64.11 and a twelve month high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. The company had revenue of $118.77 million during the quarter, compared to analyst estimates of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. Analysts anticipate that Axsome Therapeutics will post -2.26 EPS for the current year.

Insider Buying and Selling at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the transaction, the chief financial officer now directly owns 42,187 shares of the company’s stock, valued at $5,529,450.09. This represents a 6.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 22.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Axsome Therapeutics

A number of large investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in shares of Axsome Therapeutics by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock valued at $19,062,000 after purchasing an additional 27,534 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in Axsome Therapeutics during the 4th quarter valued at approximately $2,599,000. PDT Partners LLC purchased a new position in shares of Axsome Therapeutics in the third quarter worth $1,052,000. Pallas Capital Advisors LLC acquired a new stake in shares of Axsome Therapeutics during the fourth quarter worth $2,237,000. Finally, Captrust Financial Advisors purchased a new stake in shares of Axsome Therapeutics during the third quarter valued at $514,000. 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.