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

Axsome Therapeutics (NASDAQ:AXSM) had its target price hoisted by research analysts at Mizuho from $200.00 to $202.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s target price indicates a potential upside of 46.22% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Morgan Stanley upped their price target on shares of Axsome Therapeutics from $194.00 to $196.00 and gave the stock an “overweight” rating in a research report on Tuesday. Bank of America boosted their target price on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. HC Wainwright upped their target price on shares of Axsome Therapeutics from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Tuesday. Guggenheim raised their price target on shares of Axsome Therapeutics from $200.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Needham & Company LLC restated a “buy” rating and issued a $154.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $179.88.

Axsome Therapeutics Stock Down 0.9%

NASDAQ AXSM opened at $138.15 on Thursday. The stock’s 50 day simple moving average is $124.71 and its 200 day simple moving average is $113.61. Axsome Therapeutics has a one year low of $75.56 and a one year high of $141.36. The firm has a market cap of $6.89 billion, a PE ratio of -27.25 and a beta of 0.50. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.57 and a quick ratio of 1.51.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, November 3rd. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.12). The business had revenue of $170.99 million during the quarter, compared to analyst estimates of $162.96 million. Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%.Axsome Therapeutics’s quarterly revenue was up 63.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Axsome Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 91,705 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $132.34, for a total value of $12,136,239.70. Following the completion of the sale, the chief executive officer owned 7,229 shares of the company’s stock, valued at approximately $956,685.86. This represents a 92.69% 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. Also, COO Mark L. Jacobson sold 45,783 shares of Axsome Therapeutics stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $114.48, for a total transaction of $5,241,237.84. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 407,271 shares of company stock worth $50,640,415. Insiders own 22.30% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

Large investors have recently modified their holdings of the business. GSA Capital Partners LLP bought a new position in shares of Axsome Therapeutics during the 3rd quarter valued at about $579,000. Vanguard Group Inc. increased its stake in Axsome Therapeutics by 6.0% during the 3rd quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company’s stock worth $507,739,000 after purchasing an additional 235,626 shares in the last quarter. Pallas Capital Advisors LLC raised its holdings in Axsome Therapeutics by 4.4% during the 3rd quarter. Pallas Capital Advisors LLC now owns 39,444 shares of the company’s stock worth $4,790,000 after buying an additional 1,672 shares during the period. JPMorgan Chase & Co. raised its holdings in Axsome Therapeutics by 42.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 250,513 shares of the company’s stock worth $30,425,000 after buying an additional 74,885 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its stake in Axsome Therapeutics by 0.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 18,158 shares of the company’s stock valued at $2,205,000 after buying an additional 109 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.