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

Axsome Therapeutics (NASDAQ:AXSM) had its price objective increased by Mizuho from $195.00 to $212.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price target suggests a potential upside of 67.71% from the stock’s current price.

A number of other research analysts have also issued reports on AXSM. Royal Bank of Canada boosted their price target on Axsome Therapeutics from $143.00 to $192.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft started coverage on shares of Axsome Therapeutics in a report on Tuesday, February 11th. They issued a “buy” rating and a $176.00 price objective for the company. William Blair reissued an “outperform” rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. Needham & Company LLC upped their price target on shares of Axsome Therapeutics from $133.00 to $153.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, Bank of America upped their target price on Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $165.36.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM opened at $126.41 on Wednesday. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04. The firm has a market capitalization of $6.16 billion, a PE ratio of -21.10 and a beta of 1.05. Axsome Therapeutics has a 1-year low of $64.11 and a 1-year high of $139.13. The business’s fifty day moving average price is $103.53 and its two-hundred day moving average price is $95.85.

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

Insider Activity

In related news, CFO Nick Pizzie sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the transaction, the chief financial officer now 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 22.40% of the stock is owned by company insiders.

Institutional Trading of Axsome Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Boxer Capital Management LLC purchased a new position in shares of Axsome Therapeutics during the fourth quarter valued at $39,767,000. Lazard Asset Management LLC grew its stake in Axsome Therapeutics by 525.7% during the 4th quarter. Lazard Asset Management LLC now owns 537,669 shares of the company’s stock valued at $45,492,000 after acquiring an additional 451,737 shares in the last quarter. Norges Bank purchased a new position in Axsome Therapeutics during the 4th quarter valued at about $34,100,000. BVF Inc. IL increased its holdings in shares of Axsome Therapeutics by 32.7% in the 4th quarter. BVF Inc. IL now owns 1,388,064 shares of the company’s stock valued at $117,444,000 after purchasing an additional 342,064 shares during the period. Finally, Iron Triangle Partners LP purchased a new stake in shares of Axsome Therapeutics in the third quarter worth approximately $22,671,000. 81.49% of the stock is owned by institutional investors and hedge funds.

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.