Mizuho Cuts Axsome Therapeutics (NASDAQ:AXSM) Price Target to $122.00

Axsome Therapeutics (NASDAQ:AXSM) had its price target cut by Mizuho from $124.00 to $122.00 in a research report sent to investors on Tuesday, MarketBeat reports. They currently have an outperform rating on the stock.

A number of other research analysts also recently weighed in on AXSM. Needham & Company LLC reissued a “buy” rating and issued a $130.00 price target on shares of Axsome Therapeutics in a research note on Monday. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Cantor Fitzgerald restated an “overweight” rating and set a $121.00 target price on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Royal Bank of Canada increased their price target on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, Robert W. Baird lifted their price objective on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $127.07.

Axsome Therapeutics Price Performance

Axsome Therapeutics stock opened at $87.32 on Tuesday. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of -13.37 and a beta of 1.18. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $105.00. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. The business’s 50-day simple moving average is $92.92 and its 200 day simple moving average is $88.71.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.38) by $0.04. The company had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same quarter last year, the firm earned ($1.32) EPS. As a group, research analysts anticipate that Axsome Therapeutics will post -4.6 earnings per share for the current year.

Institutional Investors Weigh In On Axsome Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its holdings in Axsome Therapeutics by 7.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 165,564 shares of the company’s stock worth $13,328,000 after purchasing an additional 11,793 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Axsome Therapeutics by 5.1% during the second quarter. Rhumbline Advisers now owns 54,931 shares of the company’s stock worth $4,422,000 after buying an additional 2,674 shares in the last quarter. Arizona State Retirement System raised its position in Axsome Therapeutics by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock valued at $695,000 after buying an additional 177 shares during the last quarter. Torray Investment Partners LLC lifted its stake in Axsome Therapeutics by 11.5% in the 2nd quarter. Torray Investment Partners LLC now owns 11,747 shares of the company’s stock valued at $946,000 after acquiring an additional 1,209 shares in the last quarter. Finally, WINTON GROUP Ltd boosted its position in Axsome Therapeutics by 156.6% during the 2nd quarter. WINTON GROUP Ltd now owns 8,823 shares of the company’s stock worth $710,000 after acquiring an additional 5,385 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.