Mizuho Boosts Axsome Therapeutics (NASDAQ:AXSM) Price Target to $109.00

Axsome Therapeutics (NASDAQ:AXSM) had its price objective lifted by equities research analysts at Mizuho from $108.00 to $109.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Mizuho’s target price would indicate a potential upside of 39.76% from the company’s previous close.

AXSM has been the subject of a number of other reports. Guggenheim upped their price objective on shares of Axsome Therapeutics from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Truist Financial reiterated a “buy” rating and issued a $150.00 target price on shares of Axsome Therapeutics in a research note on Tuesday. Robert W. Baird initiated coverage on shares of Axsome Therapeutics in a report on Tuesday, March 19th. They issued an “outperform” rating and a $108.00 price target on the stock. Piper Sandler increased their price target on shares of Axsome Therapeutics from $90.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Finally, HC Wainwright increased their target price on shares of Axsome Therapeutics from $180.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $119.75.

Axsome Therapeutics Stock Performance

Shares of AXSM traded down $1.18 during mid-day trading on Thursday, reaching $77.99. The company’s stock had a trading volume of 18,146 shares, compared to its average volume of 763,465. Axsome Therapeutics has a 1-year low of $55.02 and a 1-year high of $98.40. The stock has a market cap of $3.69 billion, a P/E ratio of -15.07 and a beta of 1.17. The business has a 50-day simple moving average of $84.10 and a two-hundred day simple moving average of $75.29. The company has a current ratio of 3.63, a quick ratio of 3.52 and a debt-to-equity ratio of 0.93.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.48. The company had revenue of $71.53 million for the quarter, compared to analyst estimates of $70.38 million. Axsome Therapeutics had a negative net margin of 88.41% and a negative return on equity of 70.67%. As a group, equities research analysts anticipate that Axsome Therapeutics will post -3.71 earnings per share for the current fiscal year.

Insider Activity at Axsome Therapeutics

In related news, Director Roger Jeffs sold 29,976 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the completion of the sale, the director now directly owns 120,756 shares in the company, valued at $8,416,693.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 24.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Several hedge funds have recently modified their holdings of the stock. Washington Trust Advisors Inc. purchased a new stake in Axsome Therapeutics during the fourth quarter valued at $26,000. Harbour Investments Inc. raised its stake in Axsome Therapeutics by 461.5% during the second quarter. Harbour Investments Inc. now owns 365 shares of the company’s stock valued at $26,000 after purchasing an additional 300 shares in the last quarter. Fifth Third Bancorp raised its stake in Axsome Therapeutics by 100.0% during the third quarter. Fifth Third Bancorp now owns 400 shares of the company’s stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. Captrust Financial Advisors raised its stake in Axsome Therapeutics by 582.0% during the first quarter. Captrust Financial Advisors now owns 757 shares of the company’s stock valued at $31,000 after purchasing an additional 646 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in Axsome Therapeutics by 141.1% during the first quarter. Tower Research Capital LLC TRC now owns 815 shares of the company’s stock valued at $50,000 after purchasing an additional 477 shares in the last quarter. Hedge funds and other institutional investors 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.