Axsome Therapeutics (NASDAQ:AXSM) had its price objective boosted by BTIG Research to $25.00 in a report published on Thursday, March 28th, The Fly reports. The firm currently has a buy rating on the stock.
Several other research firms also recently weighed in on AXSM. Zacks Investment Research downgraded shares of Axsome Therapeutics from a hold rating to a sell rating in a report on Monday, January 14th. ValuEngine raised shares of Axsome Therapeutics from a hold rating to a buy rating in a report on Thursday, January 10th. Cantor Fitzgerald set a $16.00 price target on shares of Axsome Therapeutics and gave the company a buy rating in a report on Monday, December 10th. HC Wainwright set a $18.00 price target on shares of Axsome Therapeutics and gave the company a buy rating in a report on Tuesday, March 26th. Finally, BidaskClub downgraded shares of Axsome Therapeutics from a sell rating to a strong sell rating in a report on Sunday, March 3rd. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Axsome Therapeutics has a consensus rating of Buy and a consensus target price of $28.00.
Shares of Axsome Therapeutics stock traded up $0.11 during trading on Thursday, hitting $15.01. 903,286 shares of the stock were exchanged, compared to its average volume of 1,487,011. The firm has a market capitalization of $499.53 million, a P/E ratio of -13.05 and a beta of 3.48. Axsome Therapeutics has a 12 month low of $1.94 and a 12 month high of $16.80. The company has a debt-to-equity ratio of 3.86, a quick ratio of 1.41 and a current ratio of 1.41.
In other Axsome Therapeutics news, Director Mark Coleman bought 5,100 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were bought at an average price of $12.18 per share, for a total transaction of $62,118.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Nick Pizzie bought 5,400 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was acquired at an average price of $12.58 per share, for a total transaction of $67,932.00. Following the acquisition, the chief financial officer now directly owns 36,340 shares in the company, valued at $457,157.20. The disclosure for this purchase can be found here. 34.30% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in AXSM. Barclays PLC acquired a new position in Axsome Therapeutics in the fourth quarter worth approximately $30,000. Bank of New York Mellon Corp acquired a new position in Axsome Therapeutics in the fourth quarter worth approximately $98,000. Worth Venture Partners LLC acquired a new position in Axsome Therapeutics in the third quarter worth approximately $138,000. BlackRock Inc. increased its holdings in Axsome Therapeutics by 14.6% in the fourth quarter. BlackRock Inc. now owns 64,049 shares of the company’s stock worth $181,000 after buying an additional 8,137 shares during the last quarter. Finally, Tibra Equities Europe Ltd acquired a new position in Axsome Therapeutics in the first quarter worth approximately $319,000. Hedge funds and other institutional investors own 11.57% of the company’s stock.
About Axsome Therapeutics
Axsome Therapeutics, Inc, a clinical stage biopharmaceutical company, is developing novel therapies for central nervous system (CNS) disorders. Its product candidate portfolio includes AXS-05, AXS-09, AXS-02, AXS-07, and AXS-06. AXS-05 is in the Phase III clinical trial in treatment resistant depression and in agitation associated with Alzheimer's disease, as well as in the Phase II clinical trial for smoking cessation.
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