Axsome Therapeutics (NASDAQ:AXSM) Given New $137.00 Price Target at Mizuho

Axsome Therapeutics (NASDAQ:AXSM) had its price objective boosted by Mizuho from $122.00 to $137.00 in a research note released on Monday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other equities research analysts also recently weighed in on AXSM. Cantor Fitzgerald reissued an “overweight” rating and set a $121.00 price target on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Needham & Company LLC reiterated a “buy” rating and set a $133.00 price target on shares of Axsome Therapeutics in a research note on Monday, January 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $139.00 price target on shares of Axsome Therapeutics in a report on Wednesday, January 29th. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, William Blair reaffirmed an “outperform” rating on shares of Axsome Therapeutics in a research note on Friday, January 24th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $134.00.

Axsome Therapeutics Stock Performance

Axsome Therapeutics stock opened at $107.43 on Monday. Axsome Therapeutics has a 1-year low of $64.11 and a 1-year high of $111.51. The firm has a market cap of $5.21 billion, a P/E ratio of -16.45 and a beta of 1.05. The firm has a 50-day moving average of $93.57 and a 200-day moving average of $90.90. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The company had revenue of $104.76 million during the quarter, compared to the consensus estimate of $98.71 million. During the same period in the prior year, the firm earned ($1.32) earnings per share. Sell-side analysts expect that Axsome Therapeutics will post -4.72 EPS for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AXSM. Bank of Montreal Can purchased a new position in Axsome Therapeutics during the second quarter valued at $849,000. The Manufacturers Life Insurance Company raised its position in shares of Axsome Therapeutics by 4.6% in the second quarter. The Manufacturers Life Insurance Company now owns 22,901 shares of the company’s stock valued at $1,844,000 after buying an additional 999 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Axsome Therapeutics in the second quarter valued at about $250,000. Creative Planning raised its position in shares of Axsome Therapeutics by 15.9% in the second quarter. Creative Planning now owns 8,365 shares of the company’s stock valued at $673,000 after buying an additional 1,149 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Axsome Therapeutics in the second quarter valued at about $27,000. 81.49% of the stock is 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.