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

Axsome Therapeutics (NASDAQ:AXSM) had its price target upped by research analysts at Needham & Company LLC from $133.00 to $153.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 19.45% from the company’s previous close.

Several other brokerages also recently weighed in on AXSM. Bank of America raised their target price on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $139.00 target price on shares of Axsome Therapeutics in a research report on Wednesday, January 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $121.00 price target on shares of Axsome Therapeutics in a research report on Thursday, December 12th. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Truist Financial lifted their price target on Axsome Therapeutics from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $148.47.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock opened at $128.09 on Wednesday. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. The stock’s fifty day moving average is $98.47 and its two-hundred day moving average is $93.68. Axsome Therapeutics has a 52 week low of $64.11 and a 52 week high of $134.18. The company has a market capitalization of $6.21 billion, a PE ratio of -19.62 and a beta of 1.05.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results 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. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. As a group, analysts expect that Axsome Therapeutics will post -4.59 earnings per share for the current year.

Insider Activity at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the sale, the chief financial officer now owns 42,187 shares in the company, valued at approximately $5,529,450.09. This represents a 6.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AXSM. BVF Inc. IL raised its stake in Axsome Therapeutics by 32.7% during the 4th quarter. BVF Inc. IL now owns 1,388,064 shares of the company’s stock valued at $117,444,000 after acquiring an additional 342,064 shares in the last quarter. FMR LLC lifted 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 worth $97,786,000 after purchasing an additional 185,951 shares in the last quarter. Geode Capital Management LLC boosted its position in Axsome Therapeutics by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 912,538 shares of the company’s stock valued at $77,228,000 after purchasing an additional 4,079 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Axsome Therapeutics by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock valued at $66,750,000 after purchasing an additional 8,125 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Axsome Therapeutics by 10.8% in the 4th quarter. Invesco Ltd. now owns 692,464 shares of the company’s stock valued at $58,589,000 after acquiring an additional 67,285 shares in the last quarter. 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.