Axsome Therapeutics (NASDAQ:AXSM) Price Target Cut to $272.00 by Analysts at Mizuho

Axsome Therapeutics (NASDAQ:AXSM) had its target price trimmed by Mizuho from $284.00 to $272.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts have also weighed in on AXSM. Robert W. Baird reduced their price objective on shares of Axsome Therapeutics from $246.00 to $220.00 and set an “outperform” rating on the stock in a report on Tuesday. Royal Bank Of Canada lowered 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 note on Tuesday. UBS Group dropped their target price on Axsome Therapeutics from $256.00 to $239.00 and set a “buy” rating on the stock in a report on Tuesday. Guggenheim dropped their target price on Axsome Therapeutics from $275.00 to $250.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, BMO Capital Markets assumed coverage on Axsome Therapeutics in a research note on Monday, July 20th. They issued an “outperform” rating and a $310.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Axsome Therapeutics has an average rating of “Moderate Buy” and an average price target of $267.58.

Axsome Therapeutics Stock Down 1.9%

Shares of NASDAQ:AXSM opened at $137.00 on Wednesday. The firm’s 50 day moving average price is $180.64 and its 200 day moving average price is $198.37. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of -44.77 and a beta of 0.86. Axsome Therapeutics has a fifty-two week low of $123.00 and a fifty-two week high of $260.19. The company has a quick ratio of 1.34, a current ratio of 1.42 and a debt-to-equity ratio of 1.21.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Monday, November 2nd. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.38. Axsome Therapeutics had a negative net margin of 18.18% and a negative return on equity of 198.73%. The company had revenue of $259.69 million during the quarter, compared to analysts’ expectations of $249.19 million. During the same quarter in the previous year, the business posted ($0.94) EPS. The firm’s revenue was up 51.9% on a year-over-year basis. As a group, equities research analysts predict that Axsome Therapeutics will post -3.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Axsome Therapeutics news, COO Mark Jacobson sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $208.65, for a total value of $2,086,500.00. Following the transaction, the chief operating officer directly owned 10,000 shares in the company, valued at $2,086,500. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 20.60% of the stock is owned by corporate insiders.

Institutional Trading of Axsome Therapeutics

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in shares of 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 purchasing an additional 45 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in shares of Axsome Therapeutics by 4.7% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 1,739 shares of the company’s stock valued at $426,000 after purchasing an additional 78 shares during the period. Assetmark Inc. boosted its position in shares of Axsome Therapeutics by 7.2% in the 1st 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 period. Allworth Financial LP grew its stake in 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 during the last quarter. Finally, Praxis Investment Management Inc. grew its stake in Axsome Therapeutics by 10.0% during 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. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics News Summary

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

• Positive Sentiment: Third-quarter revenue rose 52% year over year to about $260 million, and the company exceeded analysts’ revenue and earnings expectations. Management sees Auvelity reaching $8 billion in peak annual revenue, a substantial long-term opportunity if achieved. Axsome: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Mizuho lowered its price target to $272 but kept an “outperform” rating, indicating continued optimism about Axsome’s prospects despite the adjustment. Mizuho stock recommendations
• Neutral Sentiment: Axsome plans to participate in several November investor conferences. The events may provide opportunities to discuss its business, but no new financial or clinical developments were announced. Axsome conference announcement
• Negative Sentiment: Market concern about the pace and prospects of launching Auvelity in Alzheimer’s care appears to be outweighing the quarterly beat, contributing to recent selling pressure and fresh 52-week lows. AXSM stock hits fresh 52-week lows
• Negative Sentiment: Several firms, including Mizuho, RBC, Guggenheim, Baird and UBS, reduced their price targets. Most retained bullish ratings, but the cluster of cuts suggests analysts have become more cautious about near-term expectations. UBS lowers Axsome price target

Axsome Therapeutics Company Profile

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.