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

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

A number of other brokerages also recently commented on AXSM. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Needham & Company LLC reiterated a “buy” rating and set a $130.00 price target on shares of Axsome Therapeutics in a report on Monday. Royal Bank of Canada upped their price objective on 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 Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, 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. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Axsome Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $127.07.

Axsome Therapeutics Price Performance

NASDAQ:AXSM opened at $87.32 on Tuesday. Axsome Therapeutics has a 52-week low of $64.11 and a 52-week high of $105.00. The company has a market cap of $4.23 billion, a P/E ratio of -13.37 and a beta of 1.18. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. The stock’s 50-day simple moving average is $92.92 and its 200 day simple moving average is $88.71.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly 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 return on equity of 158.36% and a negative net margin of 91.87%. The firm had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. During the same quarter in the previous year, the firm earned ($1.32) EPS. As a group, sell-side analysts forecast that Axsome Therapeutics will post -4.6 EPS for the current fiscal year.

Institutional Trading of Axsome Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its holdings in shares of Axsome Therapeutics by 7.7% during the second quarter. Bank of New York Mellon Corp now owns 165,564 shares of the company’s stock worth $13,328,000 after purchasing an additional 11,793 shares during the period. Rhumbline Advisers grew its position in Axsome Therapeutics by 5.1% during the second quarter. Rhumbline Advisers now owns 54,931 shares of the company’s stock worth $4,422,000 after buying an additional 2,674 shares in the last quarter. Arizona State Retirement System increased its stake in Axsome Therapeutics by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock worth $695,000 after acquiring an additional 177 shares during the period. Torray Investment Partners LLC raised its holdings in Axsome Therapeutics by 11.5% in the 2nd quarter. Torray Investment Partners LLC now owns 11,747 shares of the company’s stock valued at $946,000 after acquiring an additional 1,209 shares in the last quarter. Finally, WINTON GROUP Ltd lifted its position in shares of Axsome Therapeutics by 156.6% during the 2nd quarter. WINTON GROUP Ltd now owns 8,823 shares of the company’s stock valued at $710,000 after acquiring an additional 5,385 shares during the period. Institutional investors own 81.49% of the company’s stock.

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.