ValuEngine Lowers Axsome Therapeutics (NASDAQ:AXSM) to Hold

ValuEngine cut shares of Axsome Therapeutics (NASDAQ:AXSM) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, ValuEngine reports.

A number of other research firms have also recently issued reports on AXSM. BidaskClub upgraded shares of Axsome Therapeutics from a buy rating to a strong-buy rating in a research note on Wednesday, November 20th. William Blair initiated coverage on shares of Axsome Therapeutics in a research note on Wednesday, September 18th. They set an outperform rating and a $48.00 price target on the stock. Zacks Investment Research upgraded shares of Axsome Therapeutics from a sell rating to a hold rating in a report on Tuesday, November 19th. Guggenheim began coverage on shares of Axsome Therapeutics in a research note on Wednesday, October 16th. They issued a buy rating and a $48.00 price objective for the company. Finally, HC Wainwright reiterated a buy rating and issued a $30.00 price objective on shares of Axsome Therapeutics in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Axsome Therapeutics has an average rating of Buy and a consensus price target of $37.63.

Shares of AXSM stock opened at $45.61 on Tuesday. Axsome Therapeutics has a fifty-two week low of $1.94 and a fifty-two week high of $47.24. The stock’s 50-day moving average is $27.72 and its two-hundred day moving average is $25.21. The company has a debt-to-equity ratio of 2.80, a current ratio of 2.39 and a quick ratio of 2.39. The firm has a market cap of $1.36 billion, a P/E ratio of -39.66 and a beta of 2.84.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.56) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by ($0.15). As a group, research analysts expect that Axsome Therapeutics will post -1.7 EPS for the current year.

In related news, CFO Nick Pizzie bought 2,180 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was purchased at an average price of $24.80 per share, with a total value of $54,064.00. Following the completion of the transaction, the chief financial officer now directly owns 40,440 shares of the company’s stock, valued at $1,002,912. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 27.50% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new stake in shares of Axsome Therapeutics in the second quarter worth $52,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Axsome Therapeutics during the 2nd quarter worth $72,000. Schroder Investment Management Group acquired a new position in Axsome Therapeutics in the 2nd quarter valued at $76,000. Ladenburg Thalmann Financial Services Inc. grew its stake in Axsome Therapeutics by 41.2% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,800 shares of the company’s stock valued at $124,000 after buying an additional 1,400 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Axsome Therapeutics in the 2nd quarter worth $167,000. 54.64% of the stock is currently owned by institutional investors.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in developing novel therapies for central nervous system (CNS) disorders in the United States. Its product pipeline includes AXS-05, which is in the Phase III clinical trial for the treatment resistant depression; Phase II/III clinical trials in agitation associated with Alzheimer's disease; and Phase II clinical trial for the treatment of smoking cessation, as well as for major depressive disorder.

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Analyst Recommendations for Axsome Therapeutics (NASDAQ:AXSM)

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