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

Axsome Therapeutics (NASDAQ:AXSM) had its price objective raised by Mizuho from $195.00 to $212.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other brokerages also recently commented on AXSM. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $153.00 price target on shares of Axsome Therapeutics in a research report on Wednesday, February 19th. Leerink Partners raised their target price on Axsome Therapeutics from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. HC Wainwright boosted their price target on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Robert W. Baird set a $132.00 price target on shares of Axsome Therapeutics in a research report on Monday, February 3rd. Finally, Bank of America boosted their target price on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Axsome Therapeutics has an average rating of “Moderate Buy” and an average price target of $165.36.

Axsome Therapeutics Price Performance

AXSM opened at $127.54 on Wednesday. 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. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of -21.29 and a beta of 1.05. The firm’s fifty day moving average price is $104.27 and its two-hundred day moving average price is $96.06.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.01. The business had revenue of $118.77 million for the quarter, compared to analysts’ expectations of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. As a group, analysts anticipate that Axsome Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction on Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the transaction, the chief financial officer now directly owns 42,187 shares in the company, valued at approximately $5,529,450.09. The trade was a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AXSM. BVF Inc. IL lifted its holdings in shares of Axsome Therapeutics by 32.7% in the fourth quarter. BVF Inc. IL now owns 1,388,064 shares of the company’s stock worth $117,444,000 after buying an additional 342,064 shares in the last quarter. FMR LLC lifted its stake in Axsome Therapeutics by 20.6% in the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company’s stock worth $97,786,000 after purchasing an additional 185,951 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Axsome Therapeutics by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 912,538 shares of the company’s stock valued at $77,228,000 after purchasing an additional 4,079 shares during the period. Wellington Management Group LLP grew its position in shares of Axsome Therapeutics by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock valued at $66,750,000 after purchasing an additional 8,125 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Axsome Therapeutics by 10.8% in the fourth quarter. Invesco Ltd. now owns 692,464 shares of the company’s stock worth $58,589,000 after purchasing an additional 67,285 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

About Axsome Therapeutics

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.