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

Axsome Therapeutics (NASDAQ:AXSM) had its target price boosted by stock analysts at Mizuho from $212.00 to $216.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s target price would suggest a potential upside of 82.23% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Bank of America upped their price target on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Leerink Partners lifted their target price on Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. Wells Fargo & Company raised their price objective on Axsome Therapeutics from $140.00 to $160.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Needham & Company LLC reiterated a “buy” rating and set a $153.00 target price on shares of Axsome Therapeutics in a research note on Monday, March 3rd. Finally, Morgan Stanley raised their price target on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $167.64.

Axsome Therapeutics Trading Down 2.7 %

NASDAQ AXSM opened at $118.53 on Thursday. The stock has a market cap of $5.78 billion, a P/E ratio of -19.79 and a beta of 1.00. The company’s fifty day simple moving average is $119.67 and its 200-day simple moving average is $101.09. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. Axsome Therapeutics has a 52 week low of $64.11 and a 52 week high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. The firm had revenue of $118.77 million for the quarter, compared to analyst estimates of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. Equities research analysts predict that Axsome Therapeutics will post -2.79 EPS for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

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

Hedge Funds Weigh In On Axsome Therapeutics

Several large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in shares of Axsome Therapeutics by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock valued at $19,062,000 after purchasing an additional 27,534 shares during the period. Strategic Financial Concepts LLC bought a new stake in Axsome Therapeutics during the fourth quarter worth approximately $2,599,000. Intech Investment Management LLC grew its position in Axsome Therapeutics by 46.5% in the fourth quarter. Intech Investment Management LLC now owns 16,028 shares of the company’s stock worth $1,356,000 after buying an additional 5,087 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Axsome Therapeutics in the fourth quarter valued at $14,771,000. Finally, PDT Partners LLC bought a new stake in shares of Axsome Therapeutics during the 3rd quarter worth $1,052,000. 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.