Axsome Therapeutics (NASDAQ:AXSM) Stock Gets Price Target Cut from Mizuho

Axsome Therapeutics (NASDAQ:AXSM) had its price target dropped by equities research analysts at Mizuho from $284.00 to $272.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho‘s price objective would suggest a potential upside of 94.83% from the company’s current price.

Several other equities research analysts also recently commented on the stock. Royal Bank Of Canada decreased their target price on shares of Axsome Therapeutics from $295.00 to $273.00 and set an “outperform” rating for the company in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Thursday, October 15th. Morgan Stanley lifted their price target on Axsome Therapeutics from $247.00 to $249.00 and gave the company an “equal weight” rating in a research note on Tuesday. Robert W. Baird decreased their price objective on Axsome Therapeutics from $246.00 to $220.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, BMO Capital Markets assumed coverage on Axsome Therapeutics in a report on Monday, July 20th. They set an “outperform” rating and a $310.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $267.58.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $139.61 on Wednesday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.34 and a current ratio of 1.43. The firm has a fifty day simple moving average of $182.01 and a two-hundred day simple moving average of $198.55. Axsome Therapeutics has a 12 month low of $123.00 and a 12 month high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Monday, November 2nd. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.38. The firm had revenue of $259.69 million for the quarter, compared to analyst estimates of $249.19 million. Axsome Therapeutics had a negative net margin of 18.18% and a negative return on equity of 218.52%. The business’s quarterly revenue was up 51.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.94) earnings per share. Analysts expect that Axsome Therapeutics will post -3.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 4,660 shares of Axsome Therapeutics stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $213.95, for a total transaction of $997,007.00. Following the transaction, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at $1,546,644.55. The trade was a 39.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Mark Jacobson sold 10,000 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $208.65, for a total transaction of $2,086,500.00. Following the completion of the sale, the chief operating officer owned 10,000 shares of the company’s stock, valued at approximately $2,086,500. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. 20.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in Axsome Therapeutics by 14.9% in the 2nd quarter. GAMMA Investing LLC now owns 347 shares of the company’s stock valued at $85,000 after buying an additional 45 shares during the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of Axsome Therapeutics by 4.7% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 1,739 shares of the company’s stock worth $426,000 after buying an additional 78 shares in the last quarter. Assetmark Inc. lifted its position in shares of Axsome Therapeutics by 7.2% during the 1st quarter. Assetmark Inc. now owns 1,182 shares of the company’s stock worth $200,000 after buying an additional 79 shares in the last quarter. Allworth Financial LP lifted its position in shares of Axsome Therapeutics by 5.7% during the 2nd quarter. Allworth Financial LP now owns 1,566 shares of the company’s stock worth $383,000 after buying an additional 84 shares in the last quarter. Finally, Praxis Investment Management Inc. boosted its stake in shares of Axsome Therapeutics by 10.0% in the 1st quarter. Praxis Investment Management Inc. now owns 1,265 shares of the company’s stock worth $214,000 after buying an additional 115 shares during the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

More Axsome Therapeutics News

Here are the key news stories impacting Axsome Therapeutics this week:

• Positive Sentiment: Axsome reported Q3 revenue of $259.7 million, up 51.9% year over year and above estimates, and a loss of $0.25 per share versus a consensus loss of roughly $0.63. The results point to continued commercial growth and a narrower loss. Q3 results and business update
• Positive Sentiment: Bank of America reportedly considers the stock’s nearly 20% month-long decline excessive, suggesting potential recovery if investor concerns ease. BofA view on the selloff
• Neutral Sentiment: Analyst views remain broadly constructive but targets have been trimmed: RBC, Guggenheim, Baird and UBS lowered targets while retaining positive ratings; Morgan Stanley raised its target slightly but kept an equal-weight rating. The changes may reflect more cautious assumptions, despite substantial upside implied by the targets.
• Neutral Sentiment: Axsome plans to participate in several November investor conferences. These appearances could provide updates, but the announcement itself does not change the company’s outlook. Investor conference announcement
• Negative Sentiment: Investors remain concerned that Auvelity’s launch for Alzheimer’s disease agitation is progressing slowly. Commentary also questioned how much of Q3’s growth came from sustainable prescription volume, noting contributions from under-65 depression prescriptions and one-time or gross-to-net factors. Those concerns may temper the headline earnings beat. Auvelity launch concerns

About Axsome Therapeutics

Axsome Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for central nervous system (CNS) disorders. Founded in 2012 and headquartered in New York, the company develops medicines for conditions with significant unmet medical needs, including depression, narcolepsy, excessive daytime sleepiness, and other neurological disorders.

Axsome’s commercial products include Auvelity (dextromethorphan and bupropion), an oral treatment approved in the United States for major depressive disorder in adults, and Sunosi (solriamfetol), a therapy for excessive daytime sleepiness associated with narcolepsy or obstructive sleep apnea.