BidaskClub Downgrades Axsome Therapeutics (NASDAQ:AXSM) to Buy

BidaskClub downgraded shares of Axsome Therapeutics (NASDAQ:AXSM) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday morning, BidAskClub reports.

Several other analysts have also issued reports on AXSM. Piper Jaffray Companies restated a buy rating and issued a $125.00 target price on shares of Axsome Therapeutics in a research note on Monday, December 16th. ValuEngine lowered Axsome Therapeutics from a buy rating to a hold rating in a report on Tuesday, December 3rd. Guggenheim boosted their price objective on Axsome Therapeutics from $65.00 to $48.00 in a research note on Wednesday, December 4th. Cantor Fitzgerald restated an overweight rating and issued a $125.00 price objective (up from $104.00) on shares of Axsome Therapeutics in a research note on Monday, December 30th. Finally, HC Wainwright reaffirmed a buy rating on shares of Axsome Therapeutics in a report on Tuesday, January 21st. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $99.80.

Shares of AXSM stock opened at $85.20 on Thursday. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 2.80. The firm has a market cap of $3.03 billion, a P/E ratio of -52.92 and a beta of 3.39. The company has a 50 day moving average of $84.57 and a 200-day moving average of $40.59. Axsome Therapeutics has a 12-month low of $7.63 and a 12-month high of $109.94.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.15). As a group, equities analysts expect that Axsome Therapeutics will post -1.77 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Axsome Therapeutics by 263.1% during the 2nd quarter. BlackRock Inc. now owns 1,690,522 shares of the company’s stock valued at $43,531,000 after purchasing an additional 1,224,935 shares during the period. Vanguard Group Inc. grew its holdings in Axsome Therapeutics by 27.8% during the 2nd quarter. Vanguard Group Inc. now owns 1,152,285 shares of the company’s stock valued at $29,671,000 after buying an additional 250,498 shares in the last quarter. State Street Corp grew its holdings in Axsome Therapeutics by 12.0% during the 3rd quarter. State Street Corp now owns 729,682 shares of the company’s stock valued at $14,769,000 after buying an additional 78,209 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of Axsome Therapeutics during the second quarter valued at about $14,906,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Axsome Therapeutics during the second quarter valued at about $6,365,000. Institutional investors own 54.64% of the company’s stock.

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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