Zacks Investment Research upgraded shares of Axsome Therapeutics (NASDAQ:AXSM) from a sell rating to a hold rating in a research report sent to investors on Wednesday, Zacks.com reports.
According to Zacks, “Axsome Therapeutics, Inc. is a biopharmaceutical company. The company is focused on developing novel therapies for the management of pain and other central nervous system disorders. Its product candidate portfolio consists of AXS-02 and AXS-05 which are in clinical trial stage. Axsome Therapeutics, Inc. is based in New York. “
A number of other equities analysts also recently weighed in on AXSM. BidaskClub raised Axsome Therapeutics from a strong sell rating to a sell rating in a research report on Friday, March 15th. Leerink Swann assumed coverage on Axsome Therapeutics in a research report on Monday, April 8th. They set an outperform rating and a $25.00 price target for the company. HC Wainwright reaffirmed an average rating and set a $23.00 price target (up previously from $18.00) on shares of Axsome Therapeutics in a research report on Monday, April 15th. BTIG Research upped their price target on Axsome Therapeutics to $25.00 and gave the stock a buy rating in a research report on Thursday, March 28th. Finally, Cantor Fitzgerald upped their price target on Axsome Therapeutics from $13.00 to $16.00 and gave the stock an overweight rating in a research report on Friday, March 15th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $28.00.
NASDAQ AXSM traded up $0.17 during trading hours on Wednesday, reaching $19.81. 51,749 shares of the company’s stock were exchanged, compared to its average volume of 2,124,340. Axsome Therapeutics has a one year low of $1.94 and a one year high of $20.31. The company has a debt-to-equity ratio of 3.86, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a market cap of $654.11 million, a price-to-earnings ratio of -17.05 and a beta of 3.54.
Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Thursday, March 14th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.01. On average, analysts predict that Axsome Therapeutics will post -1.13 EPS for the current year.
In related news, CFO Nick Pizzie acquired 5,400 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was bought at an average price of $12.58 per share, with a total value of $67,932.00. Following the acquisition, the chief financial officer now owns 36,340 shares in the company, valued at approximately $457,157.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Coleman acquired 5,100 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was bought at an average cost of $12.18 per share, with a total value of $62,118.00. The disclosure for this purchase can be found here. Corporate insiders own 34.30% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Focused Wealth Management Inc bought a new position in Axsome Therapeutics during the 1st quarter worth $64,000. Barclays PLC purchased a new stake in shares of Axsome Therapeutics during the 4th quarter worth about $30,000. Janney Montgomery Scott LLC purchased a new stake in shares of Axsome Therapeutics during the 1st quarter worth about $250,000. Tibra Equities Europe Ltd purchased a new stake in shares of Axsome Therapeutics during the 1st quarter worth about $319,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Axsome Therapeutics during the 4th quarter worth about $98,000. 11.64% of the stock is owned by institutional investors.
About Axsome Therapeutics
Axsome Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in developing novel therapies for central nervous system (CNS) disorders in the United States. Its product pipeline includes AXS-05, which is in the Phase III clinical trial for the treatment resistant depression; Phase II/III clinical trials in agitation associated with Alzheimer's disease; and Phase II clinical trial for the treatment of smoking cessation, as well as for major depressive disorder.
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