Mizuho Lowers Axsome Therapeutics (NASDAQ:AXSM) Price Target to $122.00

Axsome Therapeutics (NASDAQ:AXSM) had its price target cut by research analysts at Mizuho from $124.00 to $122.00 in a research note issued on Tuesday. The brokerage presently has an “outperform” rating on the stock. Mizuho’s target price points to a potential upside of 43.90% from the company’s previous close.

A number of other equities research analysts have also commented on the company. HC Wainwright reaffirmed a “buy” rating on shares of Axsome Therapeutics in a research report on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $130.00 price objective on shares of Axsome Therapeutics in a report on Monday. Robert W. Baird lifted their target price on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Wells Fargo & Company initiated coverage on shares of Axsome Therapeutics in a research report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price objective on the stock. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $127.07.

Axsome Therapeutics Stock Down 2.2 %

Axsome Therapeutics stock opened at $84.78 on Tuesday. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of -12.98 and a beta of 1.18. The company’s 50 day simple moving average is $93.26 and its 200 day simple moving average is $88.67. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. Axsome Therapeutics has a fifty-two week low of $64.11 and a fifty-two week high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.38) by $0.04. The company had revenue of $104.76 million during the quarter, compared to analyst estimates of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same quarter in the previous year, the business earned ($1.32) EPS. As a group, sell-side analysts anticipate that Axsome Therapeutics will post -4.6 EPS for the current year.

Institutional Trading of Axsome Therapeutics

Several institutional investors have recently added to or reduced their stakes in AXSM. Arizona State Retirement System grew its position in shares of Axsome Therapeutics by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock worth $695,000 after purchasing an additional 177 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Axsome Therapeutics by 22.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after buying an additional 318 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in Axsome Therapeutics during the second quarter worth approximately $27,000. WCM Investment Management LLC increased its stake in Axsome Therapeutics by 0.3% during the 3rd quarter. WCM Investment Management LLC now owns 113,692 shares of the company’s stock worth $10,191,000 after acquiring an additional 347 shares during the period. Finally, US Bancorp DE raised its holdings in Axsome Therapeutics by 0.3% in the 3rd quarter. US Bancorp DE now owns 133,126 shares of the company’s stock valued at $11,964,000 after acquiring an additional 421 shares in the last quarter. 81.49% of the stock is currently owned by 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.