Axsome Therapeutics (AXSM) Lowered to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of Axsome Therapeutics (NASDAQ:AXSM) from a buy rating to a hold rating in a report issued on Wednesday morning.
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 stock a buy rating in a research note on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $16.70.
Several institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. acquired a new stake in Axsome Therapeutics during the first quarter worth $121,000. Susquehanna International Group LLP acquired a new stake in Axsome Therapeutics during the second quarter worth $188,000. LMR Partners LLP acquired a new stake in Axsome Therapeutics during the second quarter worth $206,000. Sphera Funds Management LTD. boosted its stake in Axsome Therapeutics by 24.9% during the second quarter. Sphera Funds Management LTD. now owns 501,000 shares of the company’s stock worth $2,756,000 after buying an additional 100,000 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Axsome Therapeutics by 1.6% during the third quarter. JPMorgan Chase & Co. now owns 1,459,117 shares of the company’s stock worth $8,026,000 after buying an additional 23,229 shares in the last quarter. Institutional investors and hedge funds own 23.62% of the company’s stock.
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About Axsome Therapeutics
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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