Zacks Investment Research Downgrades Axsome Therapeutics (AXSM) to Hold

Zacks Investment Research lowered shares of Axsome Therapeutics (NASDAQ:AXSM) from a buy rating to a hold rating in a report issued on Friday, December 29th.

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. “

Separately, Cantor Fitzgerald set a $13.00 price target on shares of Axsome Therapeutics and gave the company a buy rating in a report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The company presently has an average rating of Buy and an average target price of $16.90.

Axsome Therapeutics (AXSM) opened at $2.95 on Friday. Axsome Therapeutics has a 1-year low of $2.90 and a 1-year high of $6.45. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.86 and a quick ratio of 3.86. The company has a market cap of $75.07 and a P/E ratio of -2.17.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Wednesday, November 8th. The company reported ($0.27) EPS for the quarter. equities analysts expect that Axsome Therapeutics will post -1.31 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Axsome Therapeutics by 1.6% during the third quarter. JPMorgan Chase & Co. now owns 1,459,117 shares of the company’s stock valued at $8,026,000 after purchasing an additional 23,229 shares during the period. Goldman Sachs Group Inc. purchased a new stake in shares of Axsome Therapeutics during the first quarter valued at approximately $121,000. Susquehanna International Group LLP purchased a new stake in shares of Axsome Therapeutics during the second quarter valued at approximately $188,000. Finally, Sphera Funds Management LTD. raised its stake in shares of Axsome Therapeutics by 24.9% during the second quarter. Sphera Funds Management LTD. now owns 501,000 shares of the company’s stock valued at $2,756,000 after purchasing an additional 100,000 shares during the period. Institutional investors own 23.62% of the company’s stock.

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Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in developing therapies for the management of central nervous system (CNS) disorders, including pain. It operates in the business of developing novel therapies for the management of CNS disorders segment. Its product candidate, AXS-02 (disodium zoledronate tetrahydrate), is an oral, targeted, non opioid therapeutic for chronic pain.

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