Axsome Therapeutics (NASDAQ:AXSM) Price Target Lowered to $306.00 at Mizuho

Axsome Therapeutics (NASDAQ:AXSM) had its target price decreased by equities researchers at Mizuho from $310.00 to $306.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s target price indicates a potential upside of 40.10% from the company’s previous close.

AXSM has been the subject of several other research reports. Jefferies Financial Group restated a “buy” rating and issued a $380.00 target price on shares of Axsome Therapeutics in a research note on Thursday, June 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Friday, July 17th. Guggenheim boosted 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. UBS Group upped their target price on shares of Axsome Therapeutics from $251.00 to $259.00 and gave the stock a “buy” rating in a report on Friday, April 10th. Finally, Wells Fargo & Company increased their target price on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.29.

Axsome Therapeutics Stock Performance

Shares of NASDAQ:AXSM traded down $16.22 during trading on Friday, hitting $218.42. 410,416 shares of the company were exchanged, compared to its average volume of 765,786. Axsome Therapeutics has a 52-week low of $96.09 and a 52-week high of $260.19. The stock has a 50 day moving average of $239.57 and a 200 day moving average of $202.60. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32. The company has a market cap of $11.24 billion, a PE ratio of -58.79 and a beta of 0.60.

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

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 49,670 shares of Axsome Therapeutics stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $241.01, for a total transaction of $11,970,966.70. Following the completion of the sale, the chief executive officer directly owned 7,229 shares in the company, valued at $1,742,261.29. The trade was a 87.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Susan Mahony sold 300 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total transaction of $71,163.00. Following the completion of the transaction, the director directly owned 1,129 shares of the company’s stock, valued at approximately $267,810.09. This represents a 20.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 155,852 shares of company stock valued at $37,230,112 in the last ninety days. Insiders own 20.60% of the company’s stock.

Institutional Trading of Axsome Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in AXSM. Handelsbanken Fonder AB grew its position in Axsome Therapeutics by 216.4% in the second quarter. Handelsbanken Fonder AB now owns 42,400 shares of the company’s stock worth $10,378,000 after acquiring an additional 29,000 shares in the last quarter. GAMMA Investing LLC lifted its stake in Axsome Therapeutics by 14.9% during the second quarter. GAMMA Investing LLC now owns 347 shares of the company’s stock worth $85,000 after purchasing an additional 45 shares during the last quarter. Harbor Investment Advisory LLC bought a new stake in Axsome Therapeutics during the second quarter worth about $105,000. Seven Fleet Capital Management LP boosted its holdings in shares of Axsome Therapeutics by 8.5% in the 1st quarter. Seven Fleet Capital Management LP now owns 14,055 shares of the company’s stock worth $2,376,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Perceptive Advisors LLC boosted its holdings in shares of Axsome Therapeutics by 0.7% in the 1st quarter. Perceptive Advisors LLC now owns 149,950 shares of the company’s stock worth $25,345,000 after purchasing an additional 1,050 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Company Profile

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.