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

Zacks Investment Research upgraded shares of Axsome Therapeutics (NASDAQ:AXSM) from a sell rating to a hold rating in a research report sent to investors 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. “

A number of other brokerages have also recently issued reports on AXSM. Cantor Fitzgerald restated 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. BidaskClub cut shares of Axsome Therapeutics from a buy rating to a hold rating in a research report on Wednesday, June 12th. SunTrust Banks began coverage on shares of Axsome Therapeutics in a research report on Tuesday, May 28th. They set a buy rating for the company. HC Wainwright set a $30.00 target price on shares of Axsome Therapeutics and gave the stock a buy rating in a research report on Monday, June 24th. Finally, ValuEngine cut shares of Axsome Therapeutics from a buy rating to a hold rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Axsome Therapeutics presently has a consensus rating of Buy and an average target price of $30.83.

Shares of AXSM opened at $24.85 on Tuesday. 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 stock has a market cap of $895.23 million, a P/E ratio of -21.61 and a beta of 2.64. The company has a 50-day moving average of $25.77 and a two-hundred day moving average of $18.95. Axsome Therapeutics has a 12-month low of $1.94 and a 12-month high of $28.70.

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

In other news, CFO Nick Pizzie acquired 1,920 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 1,920 shares in the company, valued at approximately $39,936. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 27.50% of the company’s stock.

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

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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