Axsome Therapeutics (NASDAQ:AXSM) Downgraded by BidaskClub to Hold

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

Other research analysts have also issued reports about the stock. William Blair began coverage on shares of Axsome Therapeutics in a research note on Wednesday, September 18th. They issued an outperform rating and a $48.00 price objective on the stock. HC Wainwright set a $30.00 price objective on shares of Axsome Therapeutics and gave the company a buy rating in a research note on Monday, June 24th. Zacks Investment Research lowered shares of Axsome Therapeutics from a hold rating to a sell rating in a research note on Wednesday, September 25th. Finally, ValuEngine raised shares of Axsome Therapeutics from a buy rating to a strong-buy rating in a research note on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $33.29.

Shares of Axsome Therapeutics stock traded up $0.14 during trading hours on Tuesday, reaching $18.46. The company’s stock had a trading volume of 1,223,190 shares, compared to its average volume of 1,542,017. Axsome Therapeutics has a one year low of $1.94 and a one year high of $30.50. The company has a market capitalization of $635.38 million, a P/E ratio of -16.05 and a beta of 2.59. The stock’s fifty day simple moving average is $24.76 and its two-hundred day simple moving average is $22.13. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.18 and a current ratio of 4.18.

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

In other news, CFO Nick Pizzie bought 2,180 shares of the stock in a transaction dated Thursday, September 26th. The stock was bought at an average price of $24.80 per share, for a total transaction of $54,064.00. Following the completion of the acquisition, the chief financial officer now directly owns 40,440 shares in the company, valued at approximately $1,002,912. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 27.50% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Athanor Capital LP purchased a new stake in shares of Axsome Therapeutics in the second quarter valued at about $237,000. Swiss National Bank purchased a new stake in Axsome Therapeutics during the second quarter worth about $1,115,000. EAM Global Investors LLC purchased a new stake in Axsome Therapeutics during the first quarter worth about $1,211,000. Allianz Asset Management GmbH purchased a new stake in Axsome Therapeutics during the second quarter worth about $1,735,000. Finally, SG Americas Securities LLC purchased a new stake in Axsome Therapeutics during the second quarter worth about $167,000. Institutional investors own 53.02% of the company’s stock.

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.

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