Axsome Therapeutics (NASDAQ:AXSM) Coverage Initiated at William Blair

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Research analysts at William Blair assumed coverage on shares of Axsome Therapeutics (NASDAQ:AXSM) in a report released on Wednesday, Marketbeat reports. The firm set an “outperform” rating on the stock.

A number of other equities research analysts also recently commented on the company. HC Wainwright set a $30.00 target price on Axsome Therapeutics and gave the stock a “buy” rating in a research report on Monday, June 24th. BidaskClub upgraded Axsome Therapeutics from a “hold” rating to a “buy” rating in a research report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $35.00 target price (up from $25.00) on shares of Axsome Therapeutics in a research report on Tuesday, May 28th. SunTrust Banks began coverage on Axsome Therapeutics in a research report on Tuesday, May 28th. They issued a “buy” rating on the stock. Finally, ValuEngine upgraded Axsome Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $30.83.

NASDAQ:AXSM opened at $27.37 on Wednesday. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $977.12 million, a P/E ratio of -23.80 and a beta of 2.64. Axsome Therapeutics has a 12 month low of $1.94 and a 12 month high of $30.50. The business’s 50-day moving average is $25.49 and its 200 day moving average is $21.11.

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

A number of hedge funds and other institutional investors have recently modified their holdings of AXSM. Bank of Montreal Can bought a new stake in Axsome Therapeutics during the second quarter worth approximately $52,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Axsome Therapeutics during the second quarter worth approximately $72,000. Schroder Investment Management Group bought a new stake in Axsome Therapeutics during the second quarter worth approximately $76,000. Ladenburg Thalmann Financial Services Inc. increased its stake in Axsome Therapeutics by 41.2% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,800 shares of the company’s stock worth $124,000 after acquiring an additional 1,400 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Axsome Therapeutics during the second quarter worth approximately $167,000. 53.02% of the stock is currently owned by 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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Analyst Recommendations for Axsome Therapeutics (NASDAQ:AXSM)

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