Axsome Therapeutics (NASDAQ:AXSM) Price Target Cut to $306.00 by Analysts at Mizuho

Axsome Therapeutics (NASDAQ:AXSM) had its price target reduced by Mizuho from $310.00 to $306.00 in a report issued on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

AXSM has been the subject of several other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Friday, July 17th. Guggenheim lifted their price objective on shares of Axsome Therapeutics from $245.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, May 4th. HC Wainwright reaffirmed a “buy” rating and issued a $290.00 price objective on shares of Axsome Therapeutics in a report on Wednesday, July 15th. Morgan Stanley upgraded shares of Axsome Therapeutics from a “reduce” rating to an “overweight” rating in a research report on Thursday, June 11th. Finally, Piper Sandler reissued an “overweight” rating and set a $258.00 target price on shares of Axsome Therapeutics in a research note on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $261.29.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $217.99 on Friday. Axsome Therapeutics has a 12-month low of $96.09 and a 12-month high of $260.19. The firm has a market capitalization of $11.22 billion, a price-to-earnings ratio of -58.44 and a beta of 0.60. The business has a 50 day simple moving average of $239.21 and a 200 day simple moving average of $202.71. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Monday, May 4th. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.41). The business had revenue of $191.20 million during the quarter, compared to analyst estimates of $191.10 million. Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The business’s quarterly revenue was up 57.4% on a year-over-year basis. On average, equities research analysts anticipate that Axsome Therapeutics will post -2.45 EPS for the current year.

Insider Activity at Axsome Therapeutics

In related news, CEO Herriot Tabuteau sold 49,670 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $241.01, for a total transaction of $11,970,966.70. Following the completion of the transaction, the chief executive officer owned 7,229 shares of the company’s stock, valued at $1,742,261.29. This trade represents a 87.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Mark L. Jacobson sold 4,517 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $227.94, for a total value of $1,029,604.98. Following the transaction, the chief operating officer directly owned 4,517 shares of the company’s stock, valued at $1,029,604.98. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 155,852 shares of company stock worth $37,230,112 in the last quarter. Company insiders own 20.60% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings 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 acquiring an additional 45 shares during the last quarter. Birchview Capital LP grew its stake in shares of Axsome Therapeutics by 1.0% in the 4th quarter. Birchview Capital LP now owns 6,061 shares of the company’s stock worth $1,107,000 after purchasing an additional 61 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Axsome Therapeutics by 3.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,921 shares of the company’s stock worth $351,000 after purchasing an additional 65 shares in the last quarter. Xponance LLC raised its holdings in shares of Axsome Therapeutics by 2.4% in the 4th quarter. Xponance LLC now owns 3,265 shares of the company’s stock worth $596,000 after purchasing an additional 76 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in Axsome Therapeutics by 7.2% during the first quarter. Assetmark Inc. now owns 1,182 shares of the company’s stock valued at $200,000 after purchasing an additional 79 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors.

About Axsome Therapeutics

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.