Mizuho Issues Pessimistic Forecast for Axsome Therapeutics (NASDAQ:AXSM) Stock Price

Axsome Therapeutics (NASDAQ:AXSM) had its target price cut by analysts at Mizuho from $124.00 to $122.00 in a report released on Tuesday. The brokerage currently has an “outperform” rating on the stock. Mizuho’s price target indicates a potential upside of 43.90% from the company’s current price.

Other research analysts have also issued reports about the company. Wells Fargo & Company initiated coverage on Axsome Therapeutics in a research note on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and set a $121.00 price target on shares of Axsome Therapeutics in a research note on Thursday, December 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 price objective on shares of Axsome Therapeutics in a report on Monday. Royal Bank of Canada increased their target price on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, Robert W. Baird boosted their price target on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Axsome Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $127.07.

Axsome Therapeutics Trading Down 2.2 %

Shares of Axsome Therapeutics stock opened at $84.78 on Tuesday. The company has a market cap of $4.11 billion, a price-to-earnings ratio of -12.98 and a beta of 1.18. Axsome Therapeutics has a 1 year low of $64.11 and a 1 year high of $105.00. The company’s fifty day simple moving average is $93.26 and its 200-day simple moving average is $88.67. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, beating analysts’ consensus estimates 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 in the prior year, the business earned ($1.32) earnings per share. As a group, sell-side analysts expect that Axsome Therapeutics will post -4.6 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AXSM. Sofinnova Investments Inc. acquired a new position in Axsome Therapeutics during the 2nd quarter valued at about $24,971,000. Iron Triangle Partners LP acquired a new position in Axsome Therapeutics in the third quarter valued at approximately $22,671,000. Tri Locum Partners LP boosted its stake in Axsome Therapeutics by 198.4% in the second quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock valued at $24,674,000 after acquiring an additional 203,802 shares during the last quarter. FMR LLC grew its holdings in Axsome Therapeutics by 20.6% during the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company’s stock worth $97,786,000 after acquiring an additional 185,951 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of Axsome Therapeutics by 47.5% during the 3rd quarter. Franklin Resources Inc. now owns 160,534 shares of the company’s stock valued at $13,713,000 after acquiring an additional 51,696 shares during the last quarter. Institutional investors and hedge funds 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.