Axsome Therapeutics (AXSM) Lifted to Strong-Buy at BidaskClub
A number of other brokerages also recently weighed in on AXSM. Zacks Investment Research downgraded Axsome Therapeutics from a hold rating to a sell rating in a research report on Monday, January 14th. BTIG Research boosted their price target on Axsome Therapeutics to $25.00 and gave the stock a buy rating in a research report on Thursday, March 28th. ValuEngine raised Axsome Therapeutics from a hold rating to a buy rating in a research report on Thursday, January 10th. Leerink Swann initiated coverage on Axsome Therapeutics in a report on Monday. They set an outperform rating and a $25.00 price objective for the company. Finally, HC Wainwright set a $18.00 price objective on Axsome Therapeutics and gave the stock a buy rating in a report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $27.17.
NASDAQ AXSM traded up $0.04 during trading on Wednesday, reaching $14.44. 11,405 shares of the company’s stock were exchanged, compared to its average volume of 1,666,467. The company has a market cap of $479.23 million, a PE ratio of -12.50 and a beta of 3.48. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 3.86. Axsome Therapeutics has a fifty-two week low of $1.94 and a fifty-two week high of $16.80.
In other news, CFO Nick Pizzie acquired 5,400 shares of Axsome Therapeutics stock in a transaction dated Tuesday, March 19th. The stock was bought at an average price of $12.58 per share, for a total transaction of $67,932.00. Following the completion of the acquisition, the chief financial officer now directly owns 36,340 shares in the company, valued at approximately $457,157.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark Coleman acquired 5,100 shares of Axsome Therapeutics stock in a transaction dated Tuesday, March 19th. The shares were purchased at an average price of $12.18 per share, with a total value of $62,118.00. The disclosure for this purchase can be found here. Insiders own 34.30% of the company’s stock.
Several hedge funds have recently modified their holdings of AXSM. Sio Capital Management LLC boosted its stake in shares of Axsome Therapeutics by 115.5% in the third quarter. Sio Capital Management LLC now owns 416,458 shares of the company’s stock valued at $1,437,000 after buying an additional 223,168 shares during the period. Worth Venture Partners LLC bought a new stake in shares of Axsome Therapeutics in the third quarter valued at approximately $138,000. Alethea Capital Management LLC boosted its stake in shares of Axsome Therapeutics by 65.9% in the fourth quarter. Alethea Capital Management LLC now owns 908,429 shares of the company’s stock valued at $2,562,000 after buying an additional 360,986 shares during the period. BlackRock Inc. boosted its stake in shares of Axsome Therapeutics by 14.6% in the fourth quarter. BlackRock Inc. now owns 64,049 shares of the company’s stock valued at $181,000 after buying an additional 8,137 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of Axsome Therapeutics in the fourth quarter valued at approximately $98,000. Institutional investors and hedge funds own 11.50% of the company’s stock.
Axsome Therapeutics Company Profile
Axsome Therapeutics, Inc, a clinical stage biopharmaceutical company, is developing novel therapies for central nervous system (CNS) disorders. Its product candidate portfolio includes AXS-05, AXS-09, AXS-02, AXS-07, and AXS-06. AXS-05 is in the Phase III clinical trial in treatment resistant depression and in agitation associated with Alzheimer's disease, as well as in the Phase II clinical trial for smoking cessation.
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