Axsome Therapeutics (NASDAQ:AXSM) Price Target Cut to $106.00 by Analysts at Mizuho

Axsome Therapeutics (NASDAQ:AXSM) had its price target cut by research analysts at Mizuho from $109.00 to $106.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Mizuho’s price target suggests a potential upside of 37.77% from the stock’s previous close.

A number of other equities analysts also recently weighed in on AXSM. Robert W. Baird upped their price target on shares of Axsome Therapeutics from $108.00 to $112.00 and gave the stock an “outperform” rating in a research note on Tuesday. Piper Sandler upped their target price on Axsome Therapeutics from $90.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Royal Bank of Canada boosted their price target on Axsome Therapeutics from $123.00 to $128.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Guggenheim boosted their target price on shares of Axsome Therapeutics from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $107.00 price target on shares of Axsome Therapeutics in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $121.92.

Axsome Therapeutics Trading Up 1.3 %

NASDAQ AXSM opened at $76.94 on Wednesday. The firm’s 50 day moving average price is $74.14 and its two-hundred day moving average price is $75.73. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.52 and a current ratio of 3.63. Axsome Therapeutics has a twelve month low of $55.02 and a twelve month high of $98.40. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of -14.80 and a beta of 1.13.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, February 20th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($1.21) by $0.48. The company had revenue of $71.53 million for the quarter, compared to analysts’ expectations of $70.38 million. Axsome Therapeutics had a negative return on equity of 70.67% and a negative net margin of 88.41%. 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, COO Mark L. Jacobson sold 24,662 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $77.24, for a total value of $1,904,892.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Mark L. Jacobson sold 24,662 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $77.24, for a total transaction of $1,904,892.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the transaction, the director now directly owns 120,756 shares of the company’s stock, valued at approximately $8,416,693.20. The disclosure for this sale can be found here. Insiders own 24.50% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Washington Trust Advisors Inc. bought a new position in shares of Axsome Therapeutics during the 4th quarter worth approximately $26,000. Fifth Third Bancorp grew its holdings in shares of Axsome Therapeutics by 100.0% in the 3rd quarter. Fifth Third Bancorp now owns 400 shares of the company’s stock worth $28,000 after purchasing an additional 200 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Axsome Therapeutics by 5,550.0% during the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after purchasing an additional 777 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in Axsome Therapeutics by 110.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,204 shares of the company’s stock valued at $84,000 after purchasing an additional 633 shares during the last quarter. Finally, Janiczek Wealth Management LLC acquired a new position in Axsome Therapeutics in the first quarter valued at about $97,000. 81.49% of the stock is owned by institutional investors.

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.