Axsome Therapeutics Inc (AXSM) Receives Consensus Recommendation of “Buy” from Brokerages
Axsome Therapeutics Inc (NASDAQ:AXSM) has been assigned a consensus recommendation of “Buy” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $16.90.
AXSM has been the topic of a number of recent research reports. Zacks Investment Research lowered Axsome Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, September 22nd. Cantor Fitzgerald set a $13.00 price objective on Axsome Therapeutics and gave the stock a “buy” rating in a research report on Friday, December 1st.
A number of institutional investors have recently added to or reduced their stakes in AXSM. Goldman Sachs Group Inc. boosted its position in Axsome Therapeutics by 118.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 67,618 shares of the company’s stock worth $372,000 after purchasing an additional 36,698 shares in the last quarter. Susquehanna International Group LLP purchased a new stake in Axsome Therapeutics in the 2nd quarter worth approximately $188,000. Finally, JPMorgan Chase & Co. boosted its position in Axsome Therapeutics by 1.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,459,117 shares of the company’s stock worth $8,026,000 after purchasing an additional 23,229 shares in the last quarter. Institutional investors and hedge funds own 23.62% of the company’s stock.
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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