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

Zacks Investment Research downgraded shares of Axsome Therapeutics (NASDAQ:AXSM) from a buy rating to a hold rating in a research note published on Friday, December 29th.

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. “

Separately, Cantor Fitzgerald set a $13.00 price objective on shares of Axsome Therapeutics and gave the company a buy rating in a research note on Friday, December 1st. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $16.90.

Shares of Axsome Therapeutics (NASDAQ AXSM) traded down $0.10 during trading on Friday, hitting $3.30. 1,342,047 shares of the stock were exchanged, compared to its average volume of 539,181. Axsome Therapeutics has a 12 month low of $3.10 and a 12 month high of $6.45. The stock has a market cap of $83.98 and a PE ratio of -2.43. The company has a quick ratio of 3.86, a current ratio of 3.86 and a debt-to-equity ratio of 0.44.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its position in Axsome Therapeutics by 1.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,459,117 shares of the company’s stock valued at $8,026,000 after buying an additional 23,229 shares during the period. Sphera Funds Management LTD. boosted its position in Axsome Therapeutics by 24.9% during the 2nd quarter. Sphera Funds Management LTD. now owns 501,000 shares of the company’s stock valued at $2,756,000 after buying an additional 100,000 shares during the period. Goldman Sachs Group Inc. boosted its position in Axsome Therapeutics by 118.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 67,618 shares of the company’s stock valued at $372,000 after buying an additional 36,698 shares during the period. Finally, Susquehanna International Group LLP bought a new position in Axsome Therapeutics in the 2nd quarter worth $188,000. 23.62% of the stock is owned by institutional investors and hedge funds.

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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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