Needham & Company LLC Cuts Axsome Therapeutics (NASDAQ:AXSM) Price Target to $150.00

Axsome Therapeutics (NASDAQ:AXSM) had its price objective cut by Needham & Company LLC from $153.00 to $150.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued reports about the company. Royal Bank of Canada lifted their price target on Axsome Therapeutics from $190.00 to $193.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. Robert W. Baird raised their target price on shares of Axsome Therapeutics from $160.00 to $162.00 and gave the company an “outperform” rating in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of Axsome Therapeutics in a report on Tuesday, February 11th. They issued a “buy” rating and a $176.00 price target on the stock. William Blair restated an “outperform” rating on shares of Axsome Therapeutics in a research report on Tuesday, February 18th. Finally, Leerink Partners raised their price target on Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Axsome Therapeutics currently has an average rating of “Buy” and an average target price of $172.80.

Axsome Therapeutics Stock Down 1.7%

AXSM stock opened at $108.08 on Monday. The company’s 50 day moving average is $106.16 and its two-hundred day moving average is $106.84. Axsome Therapeutics has a twelve month low of $70.11 and a twelve month high of $139.13. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. The stock has a market cap of $5.32 billion, a P/E ratio of -18.04 and a beta of 0.47.

Insider Buying and Selling

In other news, Director Mark Coleman sold 3,000 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $107.49, for a total value of $322,470.00. Following the transaction, the director now owns 54,137 shares of the company’s stock, valued at $5,819,186.13. This represents a 5.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Mark L. Jacobson sold 25,000 shares of Axsome Therapeutics stock in a transaction on Monday, June 9th. The stock was sold at an average price of $110.44, for a total value of $2,761,000.00. Following the sale, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at approximately $638,674.52. This trade represents a 81.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,423 shares of company stock worth $7,711,619 over the last three months. 22.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Institutional investors have recently modified their holdings of the business. Rhumbline Advisers lifted its position in Axsome Therapeutics by 6.9% in the 1st quarter. Rhumbline Advisers now owns 54,760 shares of the company’s stock valued at $6,387,000 after acquiring an additional 3,515 shares in the last quarter. Strs Ohio acquired a new stake in shares of Axsome Therapeutics in the 1st quarter valued at about $1,213,000. McAdam LLC bought a new stake in shares of Axsome Therapeutics in the first quarter valued at about $256,000. Intech Investment Management LLC boosted its position in shares of Axsome Therapeutics by 26.6% during the first quarter. Intech Investment Management LLC now owns 20,298 shares of the company’s stock worth $2,367,000 after buying an additional 4,270 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Axsome Therapeutics by 29.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,892 shares of the company’s stock worth $8,735,000 after buying an additional 17,250 shares during the period. Institutional investors own 81.49% of the company’s stock.

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.