Axsome Therapeutics (NASDAQ:AXSM) Coverage Initiated at Needham & Company LLC

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

A number of other research analysts have also recently weighed in on AXSM. Robert W. Baird boosted their price objective 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. Morgan Stanley raised shares of Axsome Therapeutics from an equal weight rating to an overweight rating and lifted their price target for the stock from $90.00 to $115.00 in a research note on Monday, April 29th. HC Wainwright reissued a buy rating and issued a $190.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, June 6th. Cantor Fitzgerald restated an overweight rating and set a $107.00 target price on shares of Axsome Therapeutics in a research report on Wednesday, April 10th. Finally, Bank of America reduced their price target on Axsome Therapeutics from $97.00 to $95.00 and set a neutral rating on the stock in a report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $123.85.

Axsome Therapeutics Stock Up 0.9 %

Shares of NASDAQ:AXSM opened at $85.98 on Monday. The company has a market cap of $4.08 billion, a price-to-earnings ratio of -13.48 and a beta of 1.26. Axsome Therapeutics has a 12 month low of $55.02 and a 12 month high of $98.40. The company has a current ratio of 3.20, a quick ratio of 3.09 and a debt-to-equity ratio of 1.25. The company has a 50-day moving average price of $78.34 and a 200 day moving average price of $79.55.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, May 6th. The company reported ($1.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.20) by $0.11. The business had revenue of $75.00 million during the quarter, compared to analyst estimates of $69.91 million. Axsome Therapeutics had a negative return on equity of 87.17% and a negative net margin of 118.07%. As a group, equities research analysts predict that Axsome Therapeutics will post -4.66 earnings per share for the current year.

Insider Buying and Selling

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 7,910 shares of Axsome Therapeutics stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $74.31, for a total transaction of $587,792.10. Following the completion of the sale, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at approximately $429,734.73. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Axsome Therapeutics news, COO Mark L. Jacobson sold 7,910 shares of the stock in a transaction dated 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark Coleman sold 5,249 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $75.21, for a total transaction of $394,777.29. Following the completion of the sale, the director now owns 19,848 shares of the company’s stock, valued at approximately $1,492,768.08. 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 made changes to their positions in the stock. Washington Trust Advisors Inc. purchased a new stake in shares of Axsome Therapeutics during the 4th quarter worth $26,000. EntryPoint Capital LLC purchased a new position in Axsome Therapeutics in the first quarter valued at about $35,000. Russell Investments Group Ltd. lifted its position in shares of Axsome Therapeutics by 5,550.0% during the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock valued at $63,000 after buying an additional 777 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Axsome Therapeutics by 54,750.0% in the 1st quarter. Covestor Ltd now owns 1,097 shares of the company’s stock valued at $88,000 after buying an additional 1,095 shares in the last quarter. Finally, Janiczek Wealth Management LLC purchased a new position in shares of Axsome Therapeutics in the 1st quarter worth approximately $97,000. 81.49% of the stock is currently owned by hedge funds and other 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.