Axsome Therapeutics Inc (NASDAQ:AXSM)’s share price was up 8.8% during mid-day trading on Tuesday . The company traded as high as $27.67 and last traded at $27.64, approximately 871,169 shares traded hands during mid-day trading. A decline of 48% from the average daily volume of 1,690,860 shares. The stock had previously closed at $25.41.
A number of equities research analysts have recently issued reports on AXSM shares. HC Wainwright set a $30.00 target price on shares of Axsome Therapeutics and gave the company a “buy” rating in a research report on Monday, June 24th. SunTrust Banks started coverage on shares of Axsome Therapeutics in a research report on Tuesday, May 28th. They issued a “buy” rating for the company. Zacks Investment Research raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. ValuEngine cut shares of Axsome Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, BidaskClub cut shares of Axsome Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $30.83.
The company has a market capitalization of $874.61 million, a price-to-earnings ratio of -24.03 and a beta of 2.64. The stock’s 50 day moving average price is $25.89. The company has a current ratio of 5.68, a quick ratio of 5.68 and a debt-to-equity ratio of 1.08.
In other Axsome Therapeutics news, CFO Nick Pizzie bought 1,920 shares of the stock in a transaction on Tuesday, June 11th. The stock was purchased at an average price of $20.80 per share, with a total value of $39,936.00. Following the completion of the purchase, the chief financial officer now owns 1,920 shares in the company, valued at $39,936. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mark E. Saad bought 3,500 shares of the stock in a transaction on Thursday, May 23rd. The shares were acquired at an average cost of $22.33 per share, with a total value of $78,155.00. Following the purchase, the director now owns 7,002 shares of the company’s stock, valued at approximately $156,354.66. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 5,820 shares of company stock valued at $127,391. 27.50% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of AXSM. BlackRock Inc. boosted its holdings in shares of Axsome Therapeutics by 14.6% during the 4th quarter. BlackRock Inc. now owns 64,049 shares of the company’s stock worth $181,000 after buying an additional 8,137 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Axsome Therapeutics during the 4th quarter worth approximately $98,000. Barclays PLC bought a new position in shares of Axsome Therapeutics during the 4th quarter worth approximately $30,000. Millennium Management LLC bought a new position in shares of Axsome Therapeutics during the 4th quarter worth approximately $871,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of Axsome Therapeutics during the 1st quarter worth approximately $250,000. 45.10% of the stock is owned by hedge funds and other institutional investors.
Axsome Therapeutics Company Profile (NASDAQ:AXSM)
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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