Axsome Therapeutics (NASDAQ:AXSM) Given New $106.00 Price Target at Mizuho

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) had its price target decreased by analysts at Mizuho from $109.00 to $106.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Mizuho's price target would suggest a potential upside of 40.06% from the company's current price.

Several other equities analysts also recently commented on AXSM. Citigroup lowered 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 report on Tuesday. Morgan Stanley upgraded Axsome Therapeutics from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $90.00 to $115.00 in a report on Monday, April 29th. UBS Group initiated coverage on shares of Axsome Therapeutics in a research note on Tuesday, February 6th. They issued a "buy" rating and a $111.00 target price on the stock. Robert W. Baird raised their price target on Axsome Therapeutics from $108.00 to $112.00 and gave the company an "outperform" rating in a research report on Tuesday. Finally, Truist Financial reiterated a "buy" rating and issued a $150.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, Axsome Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $121.92.

Axsome Therapeutics Stock Down 1.6 %

AXSM stock traded down $1.26 during mid-day trading on Wednesday, hitting $75.68. The stock had a trading volume of 355,516 shares, compared to its average volume of 711,263. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of -14.80 and a beta of 1.13. The company has a current ratio of 3.63, a quick ratio of 3.52 and a debt-to-equity ratio of 0.93. Axsome Therapeutics has a 1-year low of $55.02 and a 1-year high of $98.40. The company has a fifty day moving average of $74.14 and a 200 day moving average of $75.73.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.73) EPS for the quarter, topping analysts' consensus estimates of ($1.21) by $0.48. Axsome Therapeutics had a negative return on equity of 70.67% and a negative net margin of 88.41%. The firm had revenue of $71.53 million for the quarter, compared to the consensus estimate of $70.38 million. On average, equities analysts expect that Axsome Therapeutics will post -3.75 EPS for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

In other news, Director Roger Jeffs sold 29,976 shares of the company's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the completion of the transaction, the director now directly owns 120,756 shares in the company, valued at $8,416,693.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Axsome Therapeutics news, Director Roger Jeffs sold 29,976 shares of the business's stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the sale, the director now directly owns 120,756 shares of the company's stock, valued at approximately $8,416,693.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Mark L. Jacobson sold 24,662 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $77.24, for a total value of $1,904,892.88. The disclosure for this sale can be found here. Company insiders own 24.50% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AXSM. Trexquant Investment LP bought a new stake in Axsome Therapeutics in the 3rd quarter valued at about $1,220,000. Kennedy Capital Management LLC lifted its holdings in shares of Axsome Therapeutics by 24.2% in the 3rd quarter. Kennedy Capital Management LLC now owns 12,092 shares of the company's stock worth $845,000 after purchasing an additional 2,354 shares in the last quarter. Wellington Management Group LLP increased its stake in Axsome Therapeutics by 18.9% during the 3rd quarter. Wellington Management Group LLP now owns 237,554 shares of the company's stock valued at $16,603,000 after purchasing an additional 37,843 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Axsome Therapeutics by 403.8% during the third quarter. Victory Capital Management Inc. now owns 18,934 shares of the company's stock worth $1,323,000 after buying an additional 15,176 shares during the last quarter. Finally, Phocas Financial Corp. acquired a new position in shares of Axsome Therapeutics during the fourth quarter valued at about $2,140,000. 81.49% of the stock is owned by institutional investors.

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.