Axsome Therapeutics (AXSM) Shares Gap Down to $7.41

Axsome Therapeutics Inc (NASDAQ:AXSM) shares gapped down before the market opened on Friday . The stock had previously closed at $7.62, but opened at $7.41. Axsome Therapeutics shares last traded at $7.64, with a volume of 54679 shares traded.

A number of research analysts have recently commented on the stock. LADENBURG THALM/SH SH reaffirmed a “positive” rating and set a $45.00 price objective (up previously from $34.00) on shares of Axsome Therapeutics in a research report on Monday. ValuEngine raised shares of Axsome Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday. BTIG Research upped their price objective on shares of Axsome Therapeutics to $20.00 and gave the company a “buy” rating in a research report on Tuesday. HC Wainwright increased their price target on shares of Axsome Therapeutics to $15.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Cantor Fitzgerald started coverage on shares of Axsome Therapeutics in a research note on Thursday, November 15th. They set an “overweight” rating and a $16.00 price objective on the stock. One analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $24.00.

The company has a debt-to-equity ratio of 6.00, a quick ratio of 1.46 and a current ratio of 1.46. The firm has a market capitalization of $225.09 million, a price-to-earnings ratio of -6.23 and a beta of -0.07.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Friday, November 9th. The company reported ($0.31) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.02. On average, equities research analysts expect that Axsome Therapeutics Inc will post -1.13 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Worth Venture Partners LLC bought a new stake in shares of Axsome Therapeutics during the 3rd quarter worth about $138,000. Sio Capital Management LLC raised its stake in Axsome Therapeutics by 115.5% in the 3rd quarter. Sio Capital Management LLC now owns 416,458 shares of the company’s stock worth $1,437,000 after purchasing an additional 223,168 shares in the last quarter. Finally, Alethea Capital Management LLC raised its stake in Axsome Therapeutics by 102.1% in the 3rd quarter. Alethea Capital Management LLC now owns 547,443 shares of the company’s stock worth $1,889,000 after purchasing an additional 276,620 shares in the last quarter. Institutional investors own 11.85% of the company’s stock.

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About Axsome Therapeutics (NASDAQ:AXSM)

Axsome Therapeutics, Inc, a clinical stage biopharmaceutical company, is developing novel therapies for central nervous system (CNS) disorders. Its product candidate portfolio includes AXS-05, AXS-09, AXS-02, AXS-07, and AXS-06. AXS-05 is in the Phase III clinical trial in treatment resistant depression and in agitation associated with Alzheimer's disease, as well as in the Phase II clinical trial for smoking cessation.

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