Mizuho Has Lowered Expectations for Axsome Therapeutics (NASDAQ:AXSM) Stock Price

Axsome Therapeutics (NASDAQ:AXSM) had its target price dropped by analysts at Mizuho from $124.00 to $122.00 in a research report issued to clients and investors on Tuesday, MarketBeat reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price objective would suggest a potential upside of 44.19% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. Needham & Company LLC reiterated a “buy” rating and set a $130.00 target price on shares of Axsome Therapeutics in a research note on Monday. HC Wainwright reiterated a “buy” rating on shares of Axsome Therapeutics in a research report on Tuesday. Robert W. Baird boosted their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Royal Bank of Canada raised their price target on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $127.07.

Axsome Therapeutics Trading Down 0.2 %

AXSM stock opened at $84.61 on Tuesday. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of -12.96 and a beta of 1.18. The company has a fifty day moving average price of $92.95 and a two-hundred day moving average price of $88.72. Axsome Therapeutics has a one year low of $64.11 and a one year high of $105.00. 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 (NASDAQ:AXSM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. The business had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same quarter in the prior year, the business earned ($1.32) EPS. Equities analysts anticipate that Axsome Therapeutics will post -4.6 EPS for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

A number of institutional investors have recently modified their holdings of the business. Sofinnova Investments Inc. acquired a new position in Axsome Therapeutics during the 2nd quarter worth approximately $24,971,000. Iron Triangle Partners LP bought a new stake in shares of Axsome Therapeutics during the third quarter worth $22,671,000. Tri Locum Partners LP increased its holdings in shares of Axsome Therapeutics by 198.4% during the second quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock worth $24,674,000 after buying an additional 203,802 shares in the last quarter. FMR LLC lifted its stake in shares of Axsome Therapeutics by 20.6% in the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company’s stock valued at $97,786,000 after acquiring an additional 185,951 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Axsome Therapeutics by 47.5% during the 3rd quarter. Franklin Resources Inc. now owns 160,534 shares of the company’s stock valued at $13,713,000 after acquiring an additional 51,696 shares in the last quarter. Institutional investors and hedge funds 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.