Axsome Therapeutics (NASDAQ:AXSM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The firm presently has a $5.25 price objective on the stock. Zacks Investment Research‘s price target points to a potential upside of 10.06% from the stock’s previous close.

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 Axsome Therapeutics and gave the company a “buy” rating in a report on Friday, December 1st. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $16.65.

Axsome Therapeutics (AXSM) traded up $0.02 during mid-day trading on Thursday, hitting $4.77. The company had a trading volume of 77,600 shares, compared to its average volume of 178,404. The company has a quick ratio of 3.86, a current ratio of 3.86 and a debt-to-equity ratio of 0.44. Axsome Therapeutics has a 12-month low of $3.53 and a 12-month high of $7.20.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in Axsome Therapeutics by 1.6% in the third quarter. JPMorgan Chase & Co. now owns 1,459,117 shares of the company’s stock valued at $8,026,000 after purchasing an additional 23,229 shares during the last quarter. Sphera Funds Management LTD. grew its stake in Axsome Therapeutics by 24.9% in the second quarter. Sphera Funds Management LTD. now owns 501,000 shares of the company’s stock valued at $2,756,000 after purchasing an additional 100,000 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Axsome Therapeutics by 118.7% in the second quarter. Goldman Sachs Group Inc. now owns 67,618 shares of the company’s stock valued at $372,000 after purchasing an additional 36,698 shares during the last quarter. LMR Partners LLP purchased a new position in Axsome Therapeutics in the second quarter valued at about $206,000. Finally, Susquehanna International Group LLP purchased a new position in Axsome Therapeutics in the second quarter valued at about $188,000. Institutional investors own 23.62% of the company’s stock.

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Axsome Therapeutics Company Profile

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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