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

Axsome Therapeutics (NASDAQ:AXSM) had its price target raised by stock analysts at Mizuho from $212.00 to $216.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price target would indicate a potential upside of 82.23% from the stock’s previous close.

AXSM has been the subject of several other research reports. Leerink Partners upped their price target on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $153.00 price target on shares of Axsome Therapeutics in a report on Monday, March 3rd. William Blair reiterated an “outperform” rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. Robert W. Baird raised their price objective on shares of Axsome Therapeutics from $132.00 to $160.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Finally, Wells Fargo & Company raised their price target on Axsome Therapeutics from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $167.64.

Axsome Therapeutics Stock Performance

NASDAQ AXSM opened at $118.53 on Thursday. The company has a fifty day moving average of $119.67 and a two-hundred day moving average of $101.09. The company has a market capitalization of $5.78 billion, a PE ratio of -19.79 and a beta of 1.00. Axsome Therapeutics has a 1 year low of $64.11 and a 1 year 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 released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. The firm had revenue of $118.77 million for the quarter, compared to the consensus estimate of $117.83 million. As a group, analysts expect that Axsome Therapeutics will post -2.79 earnings per share for the current year.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the transaction, the chief financial officer now directly owns 42,187 shares in the company, valued at approximately $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 accessible through this link. 22.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of Axsome Therapeutics by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock valued at $19,062,000 after acquiring an additional 27,534 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Axsome Therapeutics in the 4th quarter valued at $2,599,000. Intech Investment Management LLC grew its stake in shares of Axsome Therapeutics by 46.5% during the 4th quarter. Intech Investment Management LLC now owns 16,028 shares of the company’s stock valued at $1,356,000 after buying an additional 5,087 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Axsome Therapeutics in the 4th quarter worth $14,771,000. Finally, PDT Partners LLC acquired a new position in Axsome Therapeutics in the third quarter valued at $1,052,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

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.