Axsome Therapeutics (NASDAQ:AXSM) Stock Price Expected to Rise, Mizuho Analyst Says

Axsome Therapeutics (NASDAQ:AXSM) had its target price boosted by Mizuho from $122.00 to $137.00 in a research report released on Monday,Benzinga reports. Mizuho currently has an outperform rating on the stock.

A number of other research analysts also recently issued reports on AXSM. Royal Bank of Canada reiterated an “outperform” rating and issued a $139.00 price target on shares of Axsome Therapeutics in a research note on Wednesday, January 29th. Truist Financial lifted their price target on shares of Axsome Therapeutics from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday. Robert W. Baird lifted their price target on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $121.00 price target on shares of Axsome Therapeutics in a research note on Thursday, December 12th. Finally, HC Wainwright raised their price objective on shares of Axsome Therapeutics from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Friday. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $134.00.

Axsome Therapeutics Price Performance

Shares of AXSM opened at $107.43 on Monday. Axsome Therapeutics has a 1-year low of $64.11 and a 1-year high of $111.51. The stock has a market cap of $5.21 billion, a PE ratio of -16.45 and a beta of 1.05. The firm has a 50-day simple moving average of $93.57 and a two-hundred day simple moving average of $90.90. 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 (NASDAQ:AXSM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, beating the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The business had revenue of $104.76 million during the quarter, compared to analyst estimates of $98.71 million. During the same quarter last year, the firm posted ($1.32) earnings per share. As a group, analysts forecast that Axsome Therapeutics will post -4.72 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AXSM. Bank of Montreal Can acquired a new position in Axsome Therapeutics during the second quarter worth about $849,000. The Manufacturers Life Insurance Company grew its position in Axsome Therapeutics by 4.6% during the second quarter. The Manufacturers Life Insurance Company now owns 22,901 shares of the company’s stock worth $1,844,000 after buying an additional 999 shares during the period. Algert Global LLC acquired a new position in Axsome Therapeutics during the second quarter worth about $250,000. Creative Planning grew its position in Axsome Therapeutics by 15.9% during the second quarter. Creative Planning now owns 8,365 shares of the company’s stock worth $673,000 after buying an additional 1,149 shares during the period. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in Axsome Therapeutics during the second quarter worth about $27,000. 81.49% of the stock is currently 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.