Mizuho Cuts Axsome Therapeutics (NASDAQ:AXSM) Price Target to $122.00

Axsome Therapeutics (NASDAQ:AXSM) had its price objective reduced by Mizuho from $124.00 to $122.00 in a report released on Tuesday, Marketbeat.com reports. They currently have an outperform rating on the stock.

Other research analysts have also issued reports about the company. Wells Fargo & Company began coverage on Axsome Therapeutics in a report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $130.00 target price on shares of Axsome Therapeutics in a report on Monday. Royal Bank of Canada lifted their price target on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Robert W. Baird raised their price objective on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Axsome Therapeutics in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $127.07.

Axsome Therapeutics Stock Performance

Shares of NASDAQ:AXSM opened at $84.61 on Tuesday. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of -12.96 and a beta of 1.18. The firm’s 50 day simple moving average is $93.10 and its 200 day simple moving average is $88.75. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. Axsome Therapeutics has a fifty-two week low of $64.11 and a fifty-two week high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, topping the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The company had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. During the same period last year, the business posted ($1.32) earnings per share. As a group, sell-side analysts forecast that Axsome Therapeutics will post -4.6 earnings per share for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in Axsome Therapeutics by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock valued at $19,062,000 after acquiring an additional 27,534 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Axsome Therapeutics by 47.5% in the 3rd quarter. Franklin Resources Inc. now owns 160,534 shares of the company’s stock valued at $13,713,000 after purchasing an additional 51,696 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Axsome Therapeutics by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 908,459 shares of the company’s stock valued at $81,659,000 after purchasing an additional 23,564 shares during the last quarter. Barclays PLC increased its stake in shares of Axsome Therapeutics by 279.6% in the 3rd quarter. Barclays PLC now owns 61,785 shares of the company’s stock valued at $5,552,000 after purchasing an additional 45,509 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Axsome Therapeutics by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock worth $66,750,000 after buying an additional 8,125 shares in the last quarter. 81.49% of the stock is currently 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.