Axsome Therapeutics Inc (NASDAQ:AXSM) shares were up 3.7% on Thursday . The stock traded as high as $32.88 and last traded at $33.92, approximately 75,206 shares changed hands during mid-day trading. A decline of 95% from the average daily volume of 1,440,226 shares. The stock had previously closed at $32.71.
Several research analysts recently weighed in on AXSM shares. Guggenheim started coverage on Axsome Therapeutics in a research report on Wednesday, October 16th. They issued a “buy” rating and a $48.00 target price on the stock. ValuEngine raised Axsome Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. BidaskClub raised Axsome Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Axsome Therapeutics in a research report on Thursday, October 17th. Finally, Zacks Investment Research raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $35.13.
The firm has a 50-day simple moving average of $22.97 and a 200 day simple moving average of $24.15. The company has a debt-to-equity ratio of 2.80, a current ratio of 2.39 and a quick ratio of 2.39. The company has a market capitalization of $955.20 million, a PE ratio of -29.67 and a beta of 2.61.
In other Axsome Therapeutics 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 cost of $24.80 per share, for a total transaction of $54,064.00. Following the completion of the purchase, the chief financial officer now directly owns 40,440 shares of the company’s stock, valued at $1,002,912. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 27.50% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Bank of Montreal Can acquired a new stake in shares of Axsome Therapeutics during the second quarter valued at about $52,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Axsome Therapeutics during the second quarter valued at about $72,000. Schroder Investment Management Group acquired a new stake in shares of Axsome Therapeutics during the second quarter valued at about $76,000. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Axsome Therapeutics by 41.2% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,800 shares of the company’s stock valued at $124,000 after acquiring an additional 1,400 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Axsome Therapeutics during the second quarter valued at about $167,000. Institutional investors own 54.02% of the company’s stock.
About Axsome Therapeutics (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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