Axsome Therapeutics (AXSM) Rating Increased to Hold at Zacks Investment Research

Axsome Therapeutics (AXSM) Rating Increased to Hold at Zacks Investment Research

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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