Axsome Therapeutics, Inc. (AXSM) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research downgraded shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) from a buy rating to a hold rating in a research note published on Tuesday.

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. “

Several other research analysts have also weighed in on AXSM. Aegis reissued a buy rating and issued a $20.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, June 20th. ValuEngine raised Axsome Therapeutics from a strong sell rating to a sell rating in a research report on Wednesday, June 21st. Finally, Ladenburg Thalmann Financial Services reissued a buy rating and issued a $31.00 price objective (up from $28.00) on shares of Axsome Therapeutics in a research report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $16.85.

Axsome Therapeutics (NASDAQ:AXSM) traded up 1.01% during midday trading on Tuesday, reaching $5.00. The company had a trading volume of 146,200 shares. The stock has a 50-day moving average price of $5.29 and a 200 day moving average price of $4.86. Axsome Therapeutics has a 12-month low of $3.53 and a 12-month high of $7.75. The company’s market capitalization is $118.05 million.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Wednesday, August 9th. The company reported ($0.30) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.01. Equities analysts forecast that Axsome Therapeutics will post ($1.38) EPS for the current year.

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Several hedge funds have recently bought and sold shares of the company. Royce & Associates LP bought a new position in shares of Axsome Therapeutics in the 1st quarter worth about $3,436,000. Sphera Funds Management LTD. increased its position in Axsome Therapeutics by 24.9% in the 2nd quarter. Sphera Funds Management LTD. now owns 501,000 shares of the company’s stock valued at $2,756,000 after buying an additional 100,000 shares in the last quarter. Goldman Sachs Group Inc. increased 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 valued at $372,000 after buying an additional 36,698 shares in the last quarter. LMR Partners LLP bought a new stake in Axsome Therapeutics in the 2nd quarter valued at about $206,000. Finally, SG Americas Securities LLC bought a new stake in Axsome Therapeutics in the 1st quarter valued at about $139,000. 27.12% of the stock is owned by hedge funds and other institutional investors.

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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