Mizuho Issues Positive Forecast for Axsome Therapeutics (NASDAQ:AXSM) Stock Price

Axsome Therapeutics (NASDAQ:AXSM) had its price target hoisted by investment analysts at Mizuho from $195.00 to $212.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price objective points to a potential upside of 63.67% from the stock’s current price.

Several other brokerages have also commented on AXSM. Bank of America increased their price target on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. HC Wainwright boosted their target price on Axsome Therapeutics from $190.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Royal Bank of Canada raised their price target on Axsome Therapeutics from $143.00 to $192.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Leerink Partners upped their target price on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, February 10th. Finally, Truist Financial boosted their price target on Axsome Therapeutics from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. 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 a consensus price target of $160.00.

Axsome Therapeutics Price Performance

Shares of Axsome Therapeutics stock traded up $2.44 during mid-day trading on Wednesday, reaching $129.53. 220,609 shares of the stock traded hands, compared to its average volume of 1,083,638. Axsome Therapeutics has a fifty-two week low of $64.11 and a fifty-two week high of $139.13. The stock has a market capitalization of $6.32 billion, a PE ratio of -21.65 and a beta of 1.05. The business has a 50-day moving average of $102.78 and a 200 day moving average of $95.62. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22.

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

Insider Activity

In related news, CFO Nick Pizzie sold 3,000 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raiffeisen Bank International AG bought a new position in Axsome Therapeutics during the 4th quarter worth $51,000. Assetmark Inc. purchased a new stake in Axsome Therapeutics in the fourth quarter worth $52,000. R Squared Ltd purchased a new position in shares of Axsome Therapeutics in the fourth quarter worth about $64,000. Aquatic Capital Management LLC bought a new stake in shares of Axsome Therapeutics during the fourth quarter valued at about $76,000. Finally, GF Fund Management CO. LTD. purchased a new position in shares of Axsome Therapeutics during the fourth quarter worth about $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.