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

Axsome Therapeutics (NASDAQ:AXSM) had its target price increased by Mizuho from $212.00 to $216.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the company. Bank of America upped their price target on Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $153.00 target price on shares of Axsome Therapeutics in a research note on Monday, March 3rd. Leerink Partners increased their target price on Axsome Therapeutics from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Axsome Therapeutics in a report on Tuesday, February 11th. They issued a “buy” rating and a $176.00 price target for the company. Finally, Morgan Stanley increased their price objective on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. One equities research 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 has an average rating of “Moderate Buy” and a consensus target price of $167.64.

Axsome Therapeutics Trading Up 2.2 %

Shares of NASDAQ:AXSM opened at $121.77 on Thursday. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $139.13. The business has a 50 day moving average of $119.14 and a two-hundred day moving average of $100.92. The company has a market capitalization of $5.94 billion, a PE ratio of -20.33 and a beta of 1.00.

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 the consensus estimate of ($0.97) by $0.01. The firm had revenue of $118.77 million during the quarter, compared to analysts’ expectations of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. As a group, analysts forecast that Axsome Therapeutics will post -2.79 EPS for the current year.

Insider Activity

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the transaction, the chief financial officer now owns 42,187 shares of the company’s stock, valued at approximately $5,529,450.09. The trade was a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 22.40% of the company’s stock.

Institutional Trading of Axsome Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Boxer Capital Management LLC purchased a new stake in shares of Axsome Therapeutics in the fourth quarter valued at about $39,767,000. Lazard Asset Management LLC boosted its holdings in Axsome Therapeutics by 525.7% in the 4th quarter. Lazard Asset Management LLC now owns 537,669 shares of the company’s stock valued at $45,492,000 after purchasing an additional 451,737 shares during the last quarter. Norges Bank purchased a new stake in shares of Axsome Therapeutics in the 4th quarter valued at approximately $34,100,000. BVF Inc. IL increased its holdings in shares of Axsome Therapeutics by 32.7% during the 4th quarter. BVF Inc. IL now owns 1,388,064 shares of the company’s stock worth $117,444,000 after buying an additional 342,064 shares during the last quarter. Finally, Iron Triangle Partners LP purchased a new stake in shares of Axsome Therapeutics during the 3rd quarter valued at approximately $22,671,000. 81.49% of the stock is owned by institutional investors and hedge funds.

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.