Axsome Therapeutics (NASDAQ:AXSM) Price Target Lowered to $306.00 at Mizuho

Axsome Therapeutics (NASDAQ:AXSM - Free Report) had its price target cut by Mizuho from $310.00 to $306.00 in a research note published on Friday, July 31st,Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts have also recently issued reports on the company. HC Wainwright reaffirmed a "buy" rating and set a $290.00 price objective on shares of Axsome Therapeutics in a research report on Wednesday, July 15th. Royal Bank Of Canada raised their target price on Axsome Therapeutics from $302.00 to $304.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 7th. Morgan Stanley raised shares of Axsome Therapeutics from a "reduce" rating to an "overweight" rating in a research note on Thursday, June 11th. Jefferies Financial Group reissued a "buy" rating and set a $380.00 price target on shares of Axsome Therapeutics in a research note on Thursday, June 11th. Finally, UBS Group upped their price objective on shares of Axsome Therapeutics from $251.00 to $259.00 and gave the company a "buy" rating in a report on Friday, April 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $267.60.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock traded up $0.96 on Friday, hitting $199.98. The stock had a trading volume of 170,429 shares, compared to its average volume of 753,903. The business's 50 day moving average is $227.43 and its two-hundred day moving average is $206.89. Axsome Therapeutics has a twelve month low of $112.90 and a twelve month high of $260.19. The stock has a market cap of $10.47 billion, a price-to-earnings ratio of -53.33 and a beta of 0.65. The company has a quick ratio of 1.34, a current ratio of 1.43 and a debt-to-equity ratio of 1.52.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.10). Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%.The company had revenue of $218.38 million for the quarter, compared to analysts' expectations of $221.11 million. Analysts forecast that Axsome Therapeutics will post -2.8 EPS for the current year.

Insider Buying and Selling

In related news, CFO Nick Pizzie sold 33,000 shares of the company's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $240.09, for a total value of $7,922,970.00. Following the transaction, the chief financial officer directly owned 42,867 shares in the company, valued at approximately $10,291,938.03. This represents a 43.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark Coleman sold 643 shares of the firm's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $249.00, for a total transaction of $160,107.00. Following the completion of the transaction, the director directly owned 30,389 shares in the company, valued at approximately $7,566,861. The trade was a 2.07% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 188,766 shares of company stock valued at $43,903,086 in the last ninety days. Insiders own 20.60% of the company's stock.

Hedge Funds Weigh In On Axsome Therapeutics

A number of institutional investors have recently modified their holdings of AXSM. GAMMA Investing LLC lifted its holdings in Axsome Therapeutics by 14.9% in the second quarter. GAMMA Investing LLC now owns 347 shares of the company's stock valued at $85,000 after acquiring an additional 45 shares during the period. Birchview Capital LP grew its stake in shares of Axsome Therapeutics by 1.0% in the 4th quarter. Birchview Capital LP now owns 6,061 shares of the company's stock valued at $1,107,000 after purchasing an additional 61 shares during the period. PNC Financial Services Group Inc. increased its holdings in Axsome Therapeutics by 3.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,921 shares of the company's stock valued at $351,000 after purchasing an additional 65 shares during the last quarter. Xponance LLC increased its position in shares of Axsome Therapeutics by 2.4% during the 4th quarter. Xponance LLC now owns 3,265 shares of the company's stock worth $596,000 after purchasing an additional 76 shares during the last quarter. Finally, Concurrent Investment Advisors LLC raised its holdings in Axsome Therapeutics by 4.7% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 1,739 shares of the company's stock valued at $426,000 after acquiring an additional 78 shares in the last quarter. 81.49% of the stock is owned by hedge funds and other institutional investors.

About Axsome Therapeutics

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome's pipeline includes several late-stage and approved product candidates.