Axsome Therapeutics (NASDAQ:AXSM) Given New $212.00 Price Target at Mizuho

Axsome Therapeutics (NASDAQ:AXSM) had its target price upped by research analysts at Mizuho from $195.00 to $212.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s target price would suggest a potential upside of 63.67% from the stock’s previous close.

A number of other brokerages have also recently commented on AXSM. Truist Financial lifted their target price on Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. William Blair reiterated an “outperform” rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft started coverage on Axsome Therapeutics in a research note on Tuesday, February 11th. They set a “buy” rating and a $176.00 price objective for the company. Wells Fargo & Company boosted their price objective on Axsome Therapeutics from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Finally, HC Wainwright boosted their target price on Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $160.00.

Axsome Therapeutics Stock Up 1.9 %

NASDAQ:AXSM traded up $2.44 on Wednesday, reaching $129.53. 220,609 shares of the stock traded hands, compared to its average volume of 1,083,638. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $139.13. The company’s fifty day simple moving average is $102.78 and its 200 day simple moving average is $95.62. The company has a market capitalization of $6.32 billion, a price-to-earnings ratio of -21.65 and a beta of 1.05. 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 (NASDAQ:AXSM) last announced its earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. The company had revenue of $118.77 million for the quarter, compared to analysts’ expectations of $117.83 million. Equities analysts predict that Axsome Therapeutics will post -2.79 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Axsome Therapeutics

Hedge funds have recently modified their holdings of the business. Raiffeisen Bank International AG acquired a new position in shares of Axsome Therapeutics during the 4th quarter worth $51,000. Assetmark Inc. acquired a new position in shares of Axsome Therapeutics during the fourth quarter worth about $52,000. R Squared Ltd acquired a new position in shares of Axsome Therapeutics in the 4th quarter valued at approximately $64,000. Aquatic Capital Management LLC bought a new stake in shares of Axsome Therapeutics in the 4th quarter valued at approximately $76,000. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Axsome Therapeutics in the 4th quarter worth approximately $86,000. 81.49% of the stock is owned by institutional investors and hedge funds.

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.