Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $212.00 at Mizuho

Axsome Therapeutics (NASDAQ:AXSM - Free Report) had its price target raised by Mizuho from $195.00 to $212.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an outperform rating on the stock.

Other research analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft began coverage on Axsome Therapeutics in a report on Tuesday, February 11th. They issued a "buy" rating and a $176.00 price objective on the stock. StockNews.com upgraded Axsome Therapeutics from a "sell" rating to a "hold" rating in a report on Wednesday, November 20th. Robert W. Baird set a $132.00 price objective on Axsome Therapeutics in a report on Monday, February 3rd. Needham & Company LLC upped their target price on Axsome Therapeutics from $133.00 to $153.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Finally, Truist Financial upped their target price on Axsome Therapeutics from $190.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Axsome Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $165.36.

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Axsome Therapeutics Stock Up 0.9 %

NASDAQ AXSM traded up $1.13 during trading hours on Wednesday, hitting $127.54. 851,283 shares of the company were exchanged, compared to its average volume of 1,080,609. The company has a 50 day moving average of $105.00 and a two-hundred day moving average of $96.36. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. Axsome Therapeutics has a 52-week low of $64.11 and a 52-week high of $139.13. The firm has a market cap of $6.22 billion, a price-to-earnings ratio of -21.29 and a beta of 1.05.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, beating 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 business had revenue of $118.77 million for the quarter, compared to the consensus estimate of $117.83 million. Equities research analysts anticipate that Axsome Therapeutics will post -2.79 earnings per share for the current year.

Insiders Place Their Bets

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares of the company's stock, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.40% of the stock is owned by insiders.

Institutional Trading of Axsome Therapeutics

A number of hedge funds have recently added to or reduced their stakes in AXSM. Creative Planning lifted its position in Axsome Therapeutics by 29.8% during the 3rd quarter. Creative Planning now owns 10,854 shares of the company's stock worth $975,000 after acquiring an additional 2,489 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Axsome Therapeutics by 22.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company's stock valued at $156,000 after buying an additional 318 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Axsome Therapeutics by 4.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,808 shares of the company's stock valued at $1,780,000 after buying an additional 754 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Axsome Therapeutics by 65.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,232 shares of the company's stock valued at $830,000 after buying an additional 3,652 shares during the period. Finally, US Bancorp DE lifted its holdings in shares of Axsome Therapeutics by 0.3% in the 3rd quarter. US Bancorp DE now owns 133,126 shares of the company's stock valued at $11,964,000 after buying an additional 421 shares during the period. 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.