Axsome Therapeutics (NASDAQ:AXSM) Earns “Buy” Rating from Mizuho

Mizuho restated their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM – Get Rating) in a report issued on Monday morning, Benzinga reports. Mizuho currently has a $84.00 target price on the stock.

AXSM has been the topic of several other research reports. SVB Leerink raised their target price on shares of Axsome Therapeutics from $65.00 to $85.00 and gave the stock an outperform rating in a report on Tuesday, November 29th. HC Wainwright restated a buy rating and issued a $210.00 target price on shares of Axsome Therapeutics in a report on Monday, March 6th. Morgan Stanley cut their price target on shares of Axsome Therapeutics from $86.00 to $85.00 and set an equal weight rating on the stock in a report on Tuesday, February 28th. BTIG Research lifted their price target on shares of Axsome Therapeutics from $62.00 to $98.00 and gave the company a buy rating in a report on Friday, December 23rd. Finally, Piper Sandler initiated coverage on shares of Axsome Therapeutics in a report on Thursday, January 5th. They issued a neutral rating and a $75.00 price target on the stock. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $104.64.

Axsome Therapeutics Stock Up 4.2 %

Shares of Axsome Therapeutics stock opened at $60.86 on Monday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.50 and a current ratio of 2.54. Axsome Therapeutics has a 52-week low of $20.63 and a 52-week high of $82.00. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -13.32 and a beta of 1.95. The company’s 50 day moving average price is $66.66 and its 200-day moving average price is $62.00.

Axsome Therapeutics (NASDAQ:AXSM – Get Rating) last issued its earnings results on Monday, February 27th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.18) by ($0.10). The firm had revenue of $24.37 million for the quarter, compared to analysts’ expectations of $21.51 million. Equities research analysts forecast that Axsome Therapeutics will post -4.28 EPS for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in AXSM. VR Adviser LLC purchased a new position in Axsome Therapeutics during the fourth quarter valued at $51,732,000. Point72 Asset Management L.P. lifted its position in Axsome Therapeutics by 1,379.1% during the third quarter. Point72 Asset Management L.P. now owns 617,900 shares of the company’s stock valued at $27,571,000 after buying an additional 576,125 shares during the period. Boxer Capital LLC purchased a new position in Axsome Therapeutics during the fourth quarter valued at $30,852,000. Cannell & Co. lifted its position in Axsome Therapeutics by 649.9% during the fourth quarter. Cannell & Co. now owns 370,020 shares of the company’s stock valued at $28,540,000 after buying an additional 320,680 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Axsome Therapeutics by 549.0% during the second quarter. Goldman Sachs Group Inc. now owns 377,337 shares of the company’s stock valued at $14,452,000 after buying an additional 319,200 shares during the period. Hedge funds and other institutional investors own 59.71% of the company’s stock.

About Axsome Therapeutics

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Axsome Therapeutics, Inc engages in the development of novel therapies for the management of central nervous system disorders. Its product candidates include AXS-05, AXS-07, AXS-12, and AXS-14 which are being developed for multiple pain and primary care indications. The company was founded by Herriot Tabuteau on January 12, 2012 and is headquartered in New York, NY.