Axsome Therapeutics, Inc. (AXSM) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) from a buy rating to a hold rating in a research note issued to investors on Tuesday, October 17th.

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. “

Other equities analysts also recently issued research reports about the company. Aegis reaffirmed a buy rating and set a $20.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, June 20th. Ladenburg Thalmann Financial Services reissued a buy rating and issued a $31.00 price objective (up previously from $28.00) on shares of Axsome Therapeutics in a report on Wednesday, July 26th. Finally, ValuEngine raised Axsome Therapeutics from a strong sell rating to a sell rating in a report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Axsome Therapeutics presently has a consensus rating of Buy and an average price target of $16.85.

Shares of Axsome Therapeutics (AXSM) traded down $0.05 during trading hours on Tuesday, reaching $4.85. The company’s stock had a trading volume of 100,241 shares, compared to its average volume of 114,032. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.73 and a quick ratio of 4.73. Axsome Therapeutics has a 12-month low of $3.53 and a 12-month high of $7.75.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Wednesday, August 9th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.01. sell-side analysts expect that Axsome Therapeutics will post -1.35 EPS for the current year.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. bought a new position in Axsome Therapeutics in the first quarter valued at about $121,000. SG Americas Securities LLC bought a new position in Axsome Therapeutics in the first quarter valued at about $139,000. Susquehanna International Group LLP acquired a new stake in shares of Axsome Therapeutics during the second quarter valued at about $188,000. LMR Partners LLP acquired a new stake in shares of Axsome Therapeutics during the second quarter valued at about $206,000. Finally, Sphera Funds Management LTD. boosted 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 in the last quarter. Institutional investors own 27.13% of the company’s stock.

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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