Axsome Therapeutics (NASDAQ:AXSM) Raised to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of Axsome Therapeutics (NASDAQ:AXSM) from a sell rating to a hold rating in a report released on Tuesday, 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. “

AXSM has been the topic of a number of other research reports. Cantor Fitzgerald reaffirmed an overweight rating and set a $35.00 target price (up previously from $25.00) on shares of Axsome Therapeutics in a research report on Tuesday, May 28th. HC Wainwright set a $30.00 target price on shares of Axsome Therapeutics and gave the company a buy rating in a research report on Monday, June 24th. ValuEngine downgraded shares of Axsome Therapeutics from a buy rating to a hold rating in a research report on Thursday, August 1st. BidaskClub cut Axsome Therapeutics from a buy rating to a hold rating in a research note on Wednesday, June 12th. Finally, SunTrust Banks initiated coverage on Axsome Therapeutics in a research note on Tuesday, May 28th. They issued a buy rating for the company. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $30.83.

Axsome Therapeutics stock opened at $25.31 on Tuesday. The firm’s 50 day simple moving average is $25.51 and its 200-day simple moving average is $19.40. The company has a debt-to-equity ratio of 0.72, a current ratio of 4.18 and a quick ratio of 4.18. Axsome Therapeutics has a fifty-two week low of $1.94 and a fifty-two week high of $28.70.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Thursday, August 8th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.10). On average, analysts forecast that Axsome Therapeutics will post -1.49 EPS for the current year.

In other Axsome Therapeutics news, CFO Nick Pizzie bought 1,920 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were purchased at an average price of $20.80 per share, for a total transaction of $39,936.00. Following the completion of the transaction, the chief financial officer now directly owns 1,920 shares in the company, valued at approximately $39,936. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 27.50% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Axsome Therapeutics by 263.1% during the 2nd quarter. BlackRock Inc. now owns 1,690,522 shares of the company’s stock valued at $43,531,000 after purchasing an additional 1,224,935 shares during the last quarter. VHCP Management III LLC increased its stake in shares of Axsome Therapeutics by 50.9% during the second quarter. VHCP Management III LLC now owns 1,611,329 shares of the company’s stock worth $41,492,000 after acquiring an additional 543,285 shares during the period. Vanguard Group Inc. increased its stake in shares of Axsome Therapeutics by 27.8% during the second quarter. Vanguard Group Inc. now owns 1,152,285 shares of the company’s stock worth $29,671,000 after acquiring an additional 250,498 shares during the period. Alethea Capital Management LLC increased its stake in shares of Axsome Therapeutics by 25.5% during the first quarter. Alethea Capital Management LLC now owns 1,140,394 shares of the company’s stock worth $16,228,000 after acquiring an additional 231,965 shares during the period. Finally, VHCP Management II LLC increased its stake in shares of Axsome Therapeutics by 56.1% during the second quarter. VHCP Management II LLC now owns 892,946 shares of the company’s stock worth $22,993,000 after acquiring an additional 320,990 shares during the period. 50.85% of the stock is currently owned by hedge funds and other institutional investors.

Axsome Therapeutics Company Profile

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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