Mizuho Boosts Axsome Therapeutics (NASDAQ:AXSM) Price Target to $216.00

Axsome Therapeutics (NASDAQ:AXSM) had its target price upped by Mizuho from $212.00 to $216.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s target price would suggest a potential upside of 81.27% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Robert W. Baird boosted their price target on Axsome Therapeutics from $132.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Morgan Stanley boosted their target price on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Royal Bank of Canada upped their price target on shares of Axsome Therapeutics from $143.00 to $192.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Truist Financial lifted their price target on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, Needham & Company LLC restated a “buy” rating and issued a $153.00 price objective on shares of Axsome Therapeutics in a report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Axsome Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $167.64.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock opened at $119.16 on Thursday. The company’s 50 day moving average price is $118.58 and its two-hundred day moving average price is $100.78. The firm has a market capitalization of $5.81 billion, a P/E ratio of -19.89 and a beta of 1.00. Axsome Therapeutics has a fifty-two week low of $64.11 and a fifty-two week high of $139.13. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. The company had revenue of $118.77 million during the quarter, compared to analysts’ expectations of $117.83 million. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. On average, equities analysts forecast that Axsome Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Axsome Therapeutics

A number of large investors have recently modified their holdings of AXSM. JPMorgan Chase & Co. lifted its holdings in shares of Axsome Therapeutics by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock valued at $19,062,000 after purchasing an additional 27,534 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in Axsome Therapeutics during the 4th quarter valued at $2,599,000. Intech Investment Management LLC boosted its holdings in Axsome Therapeutics by 46.5% during the 4th quarter. Intech Investment Management LLC now owns 16,028 shares of the company’s stock worth $1,356,000 after acquiring an additional 5,087 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Axsome Therapeutics in the 4th quarter worth $14,771,000. Finally, PDT Partners LLC bought a new stake in shares of Axsome Therapeutics in the 3rd quarter worth $1,052,000. 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.