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

Axsome Therapeutics (NASDAQ:AXSM) had its target price raised by Mizuho from $212.00 to $216.00 in a research report released on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

AXSM has been the topic of several other research reports. HC Wainwright reiterated a “buy” rating and issued a $200.00 price objective on shares of Axsome Therapeutics in a report on Thursday, March 6th. Robert W. Baird boosted their price target on shares of Axsome Therapeutics from $132.00 to $160.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Wells Fargo & Company raised their price objective on shares of Axsome Therapeutics from $140.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Bank of America upped their target price on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Finally, Royal Bank of Canada raised their price target on shares of Axsome Therapeutics from $143.00 to $192.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.64.

Axsome Therapeutics Trading Up 2.2 %

Shares of AXSM stock opened at $121.77 on Thursday. The company has a 50-day moving average of $119.14 and a two-hundred day moving average of $100.92. The firm has a market cap of $5.94 billion, a PE ratio of -20.33 and a beta of 1.00. 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.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, beating the consensus estimate of ($0.97) by $0.01. The firm had revenue of $118.77 million during the quarter, compared to the consensus estimate of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. On average, analysts predict that Axsome Therapeutics will post -2.79 EPS for the current year.

Insider Activity at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction on Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the sale, the chief financial officer now directly owns 42,187 shares in the company, valued at $5,529,450.09. This trade represents a 6.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 22.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Several hedge funds have recently made changes to their positions in the company. Raiffeisen Bank International AG acquired a new stake in shares of Axsome Therapeutics in the 4th quarter valued at about $51,000. Assetmark Inc. acquired a new stake in shares of Axsome Therapeutics in the fourth quarter valued at approximately $52,000. R Squared Ltd acquired a new stake in shares of Axsome Therapeutics in the fourth quarter valued at approximately $64,000. Aquatic Capital Management LLC purchased a new position in shares of Axsome Therapeutics during the fourth quarter worth approximately $76,000. Finally, GF Fund Management CO. LTD. acquired a new position in shares of Axsome Therapeutics in the 4th quarter valued at $86,000. 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.