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Axsome Therapeutics (AXSM) Received its Third Buy in a Row

After Berenberg Bank and Guggenheim gave Axsome Therapeutics (NASDAQ: AXSM) a Buy rating last month, the company received another Buy, this time from Mizuho Securities. Analyst Vamil Divan reiterated a Buy rating on Axsome Therapeutics today and set a price target of $49.00. The company’s shares closed last Monday at $34.04.

According to TipRanks.com, Divan is a 1-star analyst with an average return of -2.1% and a 47.5% success rate. Divan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co, Satsuma Pharmaceuticals, and ACADIA Pharmaceuticals.

Currently, the analyst consensus on Axsome Therapeutics is a Moderate Buy with an average price target of $80.88, representing a 160.0% upside. In a report issued on April 19, BTIG also maintained a Buy rating on the stock with a $62.00 price target.

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Based on Axsome Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $33.98 million. In comparison, last year the company had a GAAP net loss of $29.16 million.

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Axsome Therapeutics, Inc. is a clinical stage biopharmaceutical company, which engages in developing novel therapies for the management of central nervous system disorders. Its product candidates include AXS-02 and AXS-06 which are developing for multiple indications. The company was founded by Herriot Tabuteau on January 12, 2012 and is headquartered in New York, NY.

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