Axsome Therapeutics (NASDAQ:AXSM) Stock Rating Reaffirmed by Mizuho

Axsome Therapeutics (NASDAQ:AXSMGet Free Report)‘s stock had its “buy” rating reiterated by stock analysts at Mizuho in a report released on Wednesday, Benzinga reports. They presently have a $106.00 price target on the stock. Mizuho’s target price points to a potential upside of 46.19% from the stock’s current price.

A number of other equities analysts also recently weighed in on the stock. Morgan Stanley raised shares of Axsome Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $90.00 to $115.00 in a research note on Monday, April 29th. Guggenheim raised their target price on shares of Axsome Therapeutics from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Citigroup cut their target price on shares of Axsome Therapeutics from $127.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. Royal Bank of Canada raised their target price on shares of Axsome Therapeutics from $127.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, June 5th. Finally, Robert W. Baird raised their target price on shares of Axsome Therapeutics from $108.00 to $112.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $122.08.

View Our Latest Research Report on Axsome Therapeutics

Axsome Therapeutics Stock Performance

NASDAQ:AXSM opened at $72.51 on Wednesday. The company has a quick ratio of 3.09, a current ratio of 3.20 and a debt-to-equity ratio of 1.25. The company has a market cap of $3.44 billion, a P/E ratio of -11.37 and a beta of 1.25. Axsome Therapeutics has a fifty-two week low of $55.02 and a fifty-two week high of $98.40. The firm’s 50 day moving average is $73.40 and its two-hundred day moving average is $77.99.

Axsome Therapeutics (NASDAQ:AXSMGet Free Report) last posted its quarterly earnings results on Monday, May 6th. The company reported ($1.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.11. The company had revenue of $75.00 million for the quarter, compared to the consensus estimate of $69.91 million. Axsome Therapeutics had a negative net margin of 118.07% and a negative return on equity of 87.17%. Analysts expect that Axsome Therapeutics will post -4.7 EPS for the current year.

Insider Buying and Selling

In related news, COO Mark L. Jacobson sold 24,662 shares of Axsome Therapeutics stock in a transaction on Monday, April 1st. The shares were sold at an average price of $77.24, for a total transaction of $1,904,892.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Axsome Therapeutics news, Director Mark Coleman sold 5,249 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $75.21, for a total transaction of $394,777.29. Following the completion of the transaction, the director now directly owns 19,848 shares of the company’s stock, valued at approximately $1,492,768.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Mark L. Jacobson sold 24,662 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $77.24, for a total transaction of $1,904,892.88. The disclosure for this sale can be found here. Insiders have sold 37,821 shares of company stock valued at $2,887,462 in the last quarter. Company insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky acquired a new position in Axsome Therapeutics during the 1st quarter worth $774,000. Artal Group S.A. acquired a new position in shares of Axsome Therapeutics in the 1st quarter valued at about $6,132,000. Comerica Bank boosted its holdings in shares of Axsome Therapeutics by 7,716.4% in the 1st quarter. Comerica Bank now owns 9,067 shares of the company’s stock valued at $723,000 after buying an additional 8,951 shares during the period. Castleark Management LLC acquired a new position in shares of Axsome Therapeutics in the 1st quarter valued at about $2,570,000. Finally, Kennedy Capital Management LLC boosted its holdings in shares of Axsome Therapeutics by 46.0% in the 1st quarter. Kennedy Capital Management LLC now owns 19,483 shares of the company’s stock valued at $1,555,000 after buying an additional 6,136 shares during the period. 81.49% of the stock is owned by institutional investors and hedge funds.

Axsome Therapeutics Company Profile

(Get Free Report)

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.

Read More

Analyst Recommendations for Axsome Therapeutics (NASDAQ:AXSM)

Receive News & Ratings for Axsome Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axsome Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.