Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $202.00 at Mizuho

Axsome Therapeutics (NASDAQ:AXSM) had its target price raised by Mizuho from $200.00 to $202.00 in a research report report published on Thursday morning,Benzinga reports. Mizuho currently has an outperform rating on the stock.

Other research analysts also recently issued research reports about the company. Royal Bank Of Canada upped their price objective on Axsome Therapeutics from $189.00 to $198.00 and gave the company an “outperform” rating in a research note on Tuesday. Guggenheim boosted their target price on shares of Axsome Therapeutics from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday. B. Riley began coverage on shares of Axsome Therapeutics in a research note on Wednesday, October 1st. They set a “buy” rating and a $179.00 price target for the company. HC Wainwright lifted their price target on shares of Axsome Therapeutics from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Morgan Stanley increased their price objective on Axsome Therapeutics from $194.00 to $196.00 and gave the company an “overweight” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.88.

Axsome Therapeutics Price Performance

Shares of AXSM traded down $1.26 during trading hours on Thursday, reaching $138.15. The stock had a trading volume of 458,694 shares, compared to its average volume of 709,926. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.51 and a current ratio of 1.57. Axsome Therapeutics has a 12 month low of $75.56 and a 12 month high of $141.36. The stock has a market capitalization of $6.89 billion, a PE ratio of -27.25 and a beta of 0.50. The company’s 50-day moving average is $124.71 and its two-hundred day moving average is $113.61.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Monday, November 3rd. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.12). The firm 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%.The firm’s revenue was up 63.2% on a year-over-year basis. Research analysts expect that Axsome Therapeutics will post -2.79 EPS for the current year.

Insider Activity

In other Axsome Therapeutics news, Director Roger Jeffs sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $121.60, for a total value of $2,432,000.00. Following the completion of the sale, the director directly owned 90,974 shares in the company, valued at approximately $11,062,438.40. This trade represents a 18.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Mark L. Jacobson sold 45,783 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $114.48, for a total transaction of $5,241,237.84. The SEC filing for this sale provides additional information. Insiders have sold 407,271 shares of company stock valued at $50,640,415 in the last ninety days. 22.30% of the stock is owned by company insiders.

Institutional Trading of Axsome Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AXSM. Versant Capital Management Inc boosted its holdings in Axsome Therapeutics by 20,300.0% in the third quarter. Versant Capital Management Inc now owns 204 shares of the company’s stock worth $25,000 after acquiring an additional 203 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Axsome Therapeutics during the first quarter worth approximately $25,000. Quantbot Technologies LP bought a new position in shares of Axsome Therapeutics in the 1st quarter worth $31,000. First Horizon Corp bought a new position in shares of Axsome Therapeutics in the 3rd quarter worth $34,000. Finally, Essex Investment Management Co. LLC acquired a new stake in Axsome Therapeutics in the 3rd quarter valued at $38,000. 81.49% of the stock is 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.