Axsome Therapeutics Inc (NASDAQ:AXSM) shares dropped 6.6% during mid-day trading on Friday . The stock traded as low as $20.02 and last traded at $21.04, approximately 1,103,279 shares traded hands during trading. A decline of 27% from the average daily volume of 1,514,374 shares. The stock had previously closed at $22.52.
AXSM has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, October 7th. William Blair initiated coverage on shares of Axsome Therapeutics in a report on Wednesday, September 18th. They set an “outperform” rating and a $48.00 price objective on the stock. ValuEngine downgraded shares of Axsome Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Guggenheim initiated coverage on shares of Axsome Therapeutics in a report on Wednesday. They set a “buy” rating and a $48.00 price objective on the stock. Finally, BidaskClub raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Friday. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $35.13.
The stock’s 50-day moving average price is $23.14 and its 200 day moving average price is $22.52. The firm has a market capitalization of $775.11 million, a price-to-earnings ratio of -18.30 and a beta of 2.59. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 0.72.
In other Axsome Therapeutics news, CFO Nick Pizzie bought 2,180 shares of Axsome Therapeutics stock in a transaction dated Thursday, September 26th. The stock was acquired at an average cost of $24.80 per share, for a total transaction of $54,064.00. Following the completion of the transaction, the chief financial officer now directly owns 40,440 shares of the company’s stock, valued at $1,002,912. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 27.50% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of AXSM. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Axsome Therapeutics by 41.2% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,800 shares of the company’s stock worth $124,000 after buying an additional 1,400 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Axsome Therapeutics during the 2nd quarter worth approximately $281,000. Schroder Investment Management Group purchased a new stake in shares of Axsome Therapeutics during the 2nd quarter worth approximately $76,000. Nuveen Asset Management LLC purchased a new stake in shares of Axsome Therapeutics during the 2nd quarter worth approximately $2,517,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of Axsome Therapeutics during the 2nd quarter worth approximately $14,906,000. Institutional investors and hedge funds own 53.02% of the company’s stock.
Axsome Therapeutics Company Profile (NASDAQ:AXSM)
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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