Axsome Therapeutics (NASDAQ:AXSM) Stock Rating Lowered by BidaskClub

BidaskClub downgraded shares of Axsome Therapeutics (NASDAQ:AXSM) from a buy rating to a hold rating in a research report report published on Wednesday morning, BidAskClub reports.

Other equities analysts have also recently issued research reports about the company. BTIG Research boosted their price target on Axsome Therapeutics to $25.00 and gave the stock a buy rating in a report on Thursday, March 28th. Svb Leerink began coverage on Axsome Therapeutics in a report on Monday, April 8th. They set an outperform rating and a $25.00 price target for the company. Zacks Investment Research raised Axsome Therapeutics from a sell rating to a hold rating in a report on Wednesday, May 8th. SunTrust Banks began coverage on Axsome Therapeutics in a report on Tuesday, May 28th. They set a buy rating for the company. Finally, Leerink Swann began coverage on Axsome Therapeutics in a report on Monday, April 8th. They set an outperform rating and a $25.00 price target for the company. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $30.83.

NASDAQ:AXSM opened at $22.83 on Wednesday. The firm has a market cap of $764.36 million, a PE ratio of -19.85 and a beta of 2.78. The company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 1.08. Axsome Therapeutics has a fifty-two week low of $1.94 and a fifty-two week high of $26.45.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.01). On average, research analysts expect that Axsome Therapeutics will post -1.29 earnings per share for the current year.

In other news, CFO Nick Pizzie bought 1,920 shares of the stock in a transaction on Tuesday, June 11th. The stock was acquired at an average price of $20.80 per share, with a total value of $39,936.00. Following the acquisition, the chief financial officer now directly owns 1,920 shares in the company, valued at $39,936. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark E. Saad bought 3,500 shares of the stock in a transaction on Thursday, May 23rd. The stock was purchased at an average cost of $22.33 per share, with a total value of $78,155.00. Following the acquisition, the director now owns 7,002 shares in the company, valued at $156,354.66. The disclosure for this purchase can be found here. Insiders have bought a total of 20,570 shares of company stock valued at $347,837 in the last three months. 27.50% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC acquired a new position in Axsome Therapeutics in the 4th quarter worth about $30,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in Axsome Therapeutics by 113.7% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,400 shares of the company’s stock worth $48,000 after purchasing an additional 1,809 shares in the last quarter. Focused Wealth Management Inc acquired a new position in Axsome Therapeutics in the 1st quarter worth about $64,000. Bank of New York Mellon Corp acquired a new position in Axsome Therapeutics in the 4th quarter worth about $98,000. Finally, Weiss Asset Management LP acquired a new position in Axsome Therapeutics in the 1st quarter worth about $171,000. 44.22% of the stock is owned by institutional investors and hedge funds.

About Axsome Therapeutics

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.

Read More: Understanding Analyst Recommendations

Analyst Recommendations for Axsome Therapeutics (NASDAQ:AXSM)

Receive News & Ratings for Axsome Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axsome Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.