Needham & Company LLC Begins Coverage on Axsome Therapeutics (NASDAQ:AXSM)

Needham & Company LLC started coverage on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research report sent to investors on Monday morning, MarketBeat.com reports. The firm issued a buy rating and a $130.00 target price on the stock.

Other equities analysts also recently issued research reports about the company. HC Wainwright reiterated a buy rating and issued a $190.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, June 6th. Cantor Fitzgerald reissued an overweight rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a report on Wednesday, April 10th. Citigroup cut their target price on shares of Axsome Therapeutics from $127.00 to $125.00 and set a buy rating for the company in a research report on Tuesday, May 7th. Robert W. Baird boosted their price target on shares of Axsome Therapeutics from $108.00 to $112.00 and gave the company an outperform rating in a research report on Tuesday, May 7th. Finally, Morgan Stanley raised shares of Axsome Therapeutics from an equal weight rating to an overweight rating and raised their price objective for the stock from $90.00 to $115.00 in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Axsome Therapeutics has a consensus rating of Moderate Buy and a consensus target price of $123.85.

Axsome Therapeutics Trading Up 0.9 %

Shares of AXSM stock opened at $85.98 on Monday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 3.09 and a current ratio of 3.20. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of -13.48 and a beta of 1.26. Axsome Therapeutics has a 52-week low of $55.02 and a 52-week high of $98.40. The company has a 50-day simple moving average of $78.34 and a two-hundred day simple moving average of $79.55.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, May 6th. The company reported ($1.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.11. The firm had revenue of $75.00 million for the quarter, compared to the consensus estimate of $69.91 million. Axsome Therapeutics had a negative return on equity of 87.17% and a negative net margin of 118.07%. Research analysts anticipate that Axsome Therapeutics will post -4.66 EPS for the current fiscal year.

Insider Activity at Axsome Therapeutics

In other news, Director Mark Coleman sold 5,249 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $75.21, for a total transaction of $394,777.29. Following the transaction, the director now directly owns 19,848 shares in the company, valued at approximately $1,492,768.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Mark Coleman sold 5,249 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $75.21, for a total value of $394,777.29. Following the completion of the sale, the director now directly owns 19,848 shares in the company, valued at approximately $1,492,768.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Mark L. Jacobson sold 7,910 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $74.31, for a total transaction of $587,792.10. Following the transaction, the chief operating officer now directly owns 5,783 shares in the company, valued at approximately $429,734.73. The disclosure for this sale can be found here. 22.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in 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 acquiring an additional 43,512 shares during the period. Perceptive Advisors LLC boosted its stake in shares of Axsome Therapeutics by 115.5% during the fourth quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock valued at $82,616,000 after purchasing an additional 556,370 shares during the period. Point72 Asset Management L.P. grew its holdings in shares of Axsome Therapeutics by 57.4% in the fourth quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock worth $66,633,000 after purchasing an additional 305,264 shares during the last quarter. Bellevue Group AG increased its stake in shares of Axsome Therapeutics by 7.9% in the first quarter. Bellevue Group AG now owns 685,476 shares of the company’s stock worth $54,701,000 after buying an additional 50,104 shares during the period. Finally, Hood River Capital Management LLC raised its holdings in Axsome Therapeutics by 32.6% during the 1st quarter. Hood River Capital Management LLC now owns 520,750 shares of the company’s stock valued at $41,556,000 after buying an additional 127,997 shares during the last quarter. 81.49% of the stock is owned by institutional investors.

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.