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

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) had its price objective reduced by analysts at Mizuho from $124.00 to $122.00 in a report issued on Tuesday, Marketbeat reports. The brokerage currently has an "outperform" rating on the stock. Mizuho's price target would suggest a potential upside of 44.19% from the stock's previous close.

Several other research firms have also recently weighed in on AXSM. Royal Bank of Canada raised their target price on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an "outperform" rating in a research note on Friday, October 4th. Wells Fargo & Company began coverage on shares of Axsome Therapeutics in a research note on Tuesday, September 3rd. They set an "overweight" rating and a $140.00 price objective on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $121.00 target price on shares of Axsome Therapeutics in a research note on Thursday, December 12th. Needham & Company LLC reissued a "buy" rating and set a $130.00 price target on shares of Axsome Therapeutics in a research report on Monday. Finally, StockNews.com raised Axsome Therapeutics from a "sell" rating to a "hold" rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $127.07.

Axsome Therapeutics Stock Down 0.2 %

NASDAQ:AXSM traded down $0.17 on Tuesday, hitting $84.61. 1,088,316 shares of the company's stock were exchanged, compared to its average volume of 623,040. The firm has a 50-day moving average price of $93.10 and a 200-day moving average price of $88.75. Axsome Therapeutics has a 52 week low of $64.11 and a 52 week 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. The company has a market cap of $4.10 billion, a P/E ratio of -12.96 and a beta of 1.18.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 158.36% and a negative net margin of 91.87%. During the same quarter in the prior year, the company posted ($1.32) earnings per share. As a group, analysts expect that Axsome Therapeutics will post -4.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. PDT Partners LLC bought a new position in shares of Axsome Therapeutics during the third quarter worth approximately $1,052,000. Captrust Financial Advisors acquired a new stake in Axsome Therapeutics during the third quarter worth approximately $514,000. BNP Paribas Financial Markets increased its stake in Axsome Therapeutics by 71.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,733 shares of the company's stock worth $1,234,000 after acquiring an additional 5,737 shares during the period. Erste Asset Management GmbH acquired a new position in Axsome Therapeutics in the 3rd quarter valued at $986,000. Finally, XTX Topco Ltd lifted its position in shares of Axsome Therapeutics by 177.9% during the 2nd quarter. XTX Topco Ltd now owns 11,205 shares of the company's stock valued at $902,000 after acquiring an additional 7,173 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.