Mizuho Forecasts Strong Price Appreciation for Axsome Therapeutics (NASDAQ:AXSM) Stock

Axsome Therapeutics (NASDAQ:AXSM) had its price target hoisted by research analysts at Mizuho from $195.00 to $212.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price objective would suggest a potential upside of 67.71% from the company’s previous close.

AXSM has been the subject of a number of other research reports. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Truist Financial increased their price target on Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Needham & Company LLC lifted their price objective on Axsome Therapeutics from $133.00 to $153.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Wells Fargo & Company raised their price target on Axsome Therapeutics from $140.00 to $160.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, HC Wainwright upped their price objective on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $165.36.

Axsome Therapeutics Trading Down 1.5 %

Shares of Axsome Therapeutics stock opened at $126.41 on Wednesday. The business has a 50 day moving average price of $103.53 and a 200 day moving average price of $95.85. The company has a market capitalization of $6.16 billion, a P/E ratio of -21.10 and a beta of 1.05. 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 has a 1 year low of $64.11 and a 1 year high of $139.13.

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

Insider Buying and Selling at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares of the company’s stock, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 22.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Axsome Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AXSM. BVF Inc. IL lifted its stake in shares of Axsome Therapeutics by 32.7% in the fourth quarter. BVF Inc. IL now owns 1,388,064 shares of the company’s stock worth $117,444,000 after acquiring an additional 342,064 shares in the last quarter. FMR LLC boosted its stake in shares of Axsome Therapeutics by 20.6% during the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company’s stock valued at $97,786,000 after buying an additional 185,951 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Axsome Therapeutics by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 912,538 shares of the company’s stock worth $77,228,000 after buying an additional 4,079 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Axsome Therapeutics by 1.1% during the third quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock worth $66,750,000 after buying an additional 8,125 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Axsome Therapeutics by 10.8% in the fourth quarter. Invesco Ltd. now owns 692,464 shares of the company’s stock worth $58,589,000 after buying an additional 67,285 shares during the last quarter. 81.49% of the stock is owned by hedge funds and other institutional investors.

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.