Axsome Therapeutics (NASDAQ:AXSM) Given New $106.00 Price Target at Mizuho

Axsome Therapeutics (NASDAQ:AXSM) had its target price lowered by Mizuho from $109.00 to $106.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

AXSM has been the topic of several other research reports. Morgan Stanley upgraded shares of Axsome Therapeutics from an equal weight rating to an overweight rating and lifted their price target for the company from $90.00 to $115.00 in a report on Monday, April 29th. Cantor Fitzgerald reissued an overweight rating and issued a $107.00 price target on shares of Axsome Therapeutics in a research note on Wednesday, April 10th. Piper Sandler raised their price objective on shares of Axsome Therapeutics from $90.00 to $113.00 and gave the stock an overweight rating in a report on Tuesday, January 16th. UBS Group started coverage on Axsome Therapeutics in a report on Tuesday, February 6th. They set a buy rating and a $111.00 target price on the stock. Finally, Truist Financial reissued a buy rating and issued a $150.00 target price on shares of Axsome Therapeutics in a research report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $121.92.

Axsome Therapeutics Stock Performance

Shares of NASDAQ:AXSM opened at $75.68 on Wednesday. The company has a current ratio of 3.63, a quick ratio of 3.52 and a debt-to-equity ratio of 0.93. The company has a market cap of $3.59 billion, a price-to-earnings ratio of -14.55 and a beta of 1.13. Axsome Therapeutics has a 12 month low of $55.02 and a 12 month high of $98.40. The company has a 50-day moving average price of $73.99 and a 200-day moving average price of $75.73.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.48. The business had revenue of $71.53 million during the quarter, compared to analyst estimates of $70.38 million. Axsome Therapeutics had a negative return on equity of 70.67% and a negative net margin of 88.41%. As a group, equities analysts anticipate that Axsome Therapeutics will post -3.75 EPS for the current year.

Insider Buying and Selling at Axsome Therapeutics

In other news, Director Roger Jeffs sold 29,976 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $69.70, for a total value of $2,089,327.20. Following the transaction, the director now owns 120,756 shares in the company, valued at $8,416,693.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Roger Jeffs sold 29,976 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the transaction, the director now directly owns 120,756 shares of the company’s stock, valued at $8,416,693.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Mark L. Jacobson sold 24,662 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $77.24, for a total value of $1,904,892.88. The disclosure for this sale can be found here. 24.50% of the stock is owned by company insiders.

Institutional Trading of Axsome Therapeutics

A number of large investors have recently made changes to their positions in the stock. Trexquant Investment LP bought a new position in Axsome Therapeutics in the third quarter worth approximately $1,220,000. Kennedy Capital Management LLC grew its holdings in Axsome Therapeutics by 24.2% during the third quarter. Kennedy Capital Management LLC now owns 12,092 shares of the company’s stock valued at $845,000 after purchasing an additional 2,354 shares during the period. Wellington Management Group LLP grew its holdings in Axsome Therapeutics by 18.9% during the third quarter. Wellington Management Group LLP now owns 237,554 shares of the company’s stock valued at $16,603,000 after purchasing an additional 37,843 shares during the period. Victory Capital Management Inc. raised its stake in shares of Axsome Therapeutics by 403.8% in the third quarter. Victory Capital Management Inc. now owns 18,934 shares of the company’s stock worth $1,323,000 after buying an additional 15,176 shares during the period. Finally, Phocas Financial Corp. purchased a new position in shares of Axsome Therapeutics during the 4th quarter valued at about $2,140,000. 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.