Axsome Therapeutics (NASDAQ:AXSM) Price Target Lowered to $106.00 at Mizuho

Axsome Therapeutics (NASDAQ:AXSM) had its price objective dropped by investment analysts at Mizuho from $109.00 to $106.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Mizuho’s price objective would indicate a potential upside of 37.77% from the stock’s previous close.

A number of other brokerages also recently weighed in on AXSM. Robert W. Baird raised their price objective on Axsome Therapeutics from $108.00 to $112.00 and gave the company an “outperform” rating in a research report on Tuesday. Guggenheim boosted their price objective on shares of Axsome Therapeutics from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Citigroup reduced their target price on Axsome Therapeutics from $127.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday. Royal Bank of Canada boosted their price target on Axsome Therapeutics from $123.00 to $128.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Finally, UBS Group began coverage on shares of Axsome Therapeutics in a research report on Tuesday, February 6th. They issued a “buy” rating and a $111.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Axsome Therapeutics has an average rating of “Moderate Buy” and an average target price of $121.92.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock opened at $76.94 on Wednesday. The company has a current ratio of 3.63, a quick ratio of 3.52 and a debt-to-equity ratio of 0.93. The stock’s fifty day moving average price is $74.14 and its 200-day moving average price is $75.73. The firm has a market cap of $3.65 billion, a P/E ratio of -14.80 and a beta of 1.13. Axsome Therapeutics has a 12 month low of $55.02 and a 12 month high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Tuesday, February 20th. The company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.48. Axsome Therapeutics had a negative net margin of 88.41% and a negative return on equity of 70.67%. The business had revenue of $71.53 million for the quarter, compared to the consensus estimate of $70.38 million. On average, equities research analysts expect that Axsome Therapeutics will post -3.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Roger Jeffs sold 29,976 shares of Axsome Therapeutics stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $69.70, for a total value of $2,089,327.20. Following the sale, the director now owns 120,756 shares of the company’s stock, valued at approximately $8,416,693.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Roger Jeffs sold 29,976 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 120,756 shares in the company, valued at approximately $8,416,693.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Mark L. Jacobson sold 24,662 shares of Axsome Therapeutics stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $77.24, for a total value of $1,904,892.88. The disclosure for this sale can be found here. 24.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its position in Axsome Therapeutics by 5,550.0% during the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after buying an additional 777 shares in the last quarter. Sei Investments Co. raised its stake in Axsome Therapeutics by 8.2% during the first quarter. Sei Investments Co. now owns 35,654 shares of the company’s stock worth $2,845,000 after purchasing an additional 2,697 shares during the period. SG Americas Securities LLC boosted its holdings in Axsome Therapeutics by 605.5% in the 1st quarter. SG Americas Securities LLC now owns 15,104 shares of the company’s stock valued at $1,205,000 after purchasing an additional 12,963 shares during the last quarter. Mutual of America Capital Management LLC grew its stake in shares of Axsome Therapeutics by 20.4% in the 1st quarter. Mutual of America Capital Management LLC now owns 41,620 shares of the company’s stock valued at $3,321,000 after buying an additional 7,042 shares during the period. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Axsome Therapeutics by 9.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 5,780 shares of the company’s stock worth $461,000 after buying an additional 500 shares during the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

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.