By otakuyassine3@gmail.com 
Axsome Therapeutics (NASDAQ:AXSM – Get Free Report)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports. They presently have a $153.00 price objective on the stock. Needham & Company LLC’s price target indicates a potential upside of 39.41% from the company’s previous close.
A number of other research firms also recently weighed in on AXSM. Leerink Partners lifted their target price on Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. Morgan Stanley lifted their price objective on Axsome Therapeutics from $125.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft assumed coverage on Axsome Therapeutics in a research note on Tuesday, February 11th. They issued a “buy” rating and a $176.00 target price for the company. Mizuho lifted their price target on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the stock an “outperform” rating in a research note on Thursday, March 27th. Finally, HC Wainwright reissued a “buy” rating and issued a $200.00 price target on shares of Axsome Therapeutics in a report on Thursday, March 6th. One analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $167.64.
View Our Latest Report on AXSM
Axsome Therapeutics Stock Performance
NASDAQ:AXSM opened at $109.75 on Tuesday. The firm has a market capitalization of $5.35 billion, a PE ratio of -18.32 and a beta of 1.00. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. Axsome Therapeutics has a 1 year low of $64.11 and a 1 year high of $139.13. The firm’s fifty day simple moving average is $120.62 and its 200 day simple moving average is $101.58.
Axsome Therapeutics (NASDAQ:AXSM – Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. The business had revenue of $118.77 million for the quarter, compared to analyst estimates of $117.83 million. On average, sell-side analysts anticipate that Axsome Therapeutics will post -2.79 EPS for the current year.
Insider Activity at Axsome Therapeutics
In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the transaction, the chief financial officer now directly owns 42,187 shares of the company’s stock, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.40% of the stock is owned by company insiders.
Institutional Trading of Axsome Therapeutics
Several institutional investors and hedge funds have recently made changes to their positions in AXSM. Raiffeisen Bank International AG bought a new position in Axsome Therapeutics during the fourth quarter worth about $51,000. Assetmark Inc. acquired a new stake in shares of Axsome Therapeutics in the 4th quarter valued at approximately $52,000. R Squared Ltd acquired a new stake in shares of Axsome Therapeutics in the 4th quarter valued at approximately $64,000. Aquatic Capital Management LLC bought a new position in Axsome Therapeutics during the 4th quarter worth approximately $76,000. Finally, GF Fund Management CO. LTD. acquired a new position in Axsome Therapeutics during the fourth quarter valued at approximately $86,000. 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.
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