Axsome Therapeutics (NASDAQ:AXSM) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Axsome Therapeutics (NASDAQ:AXSM) from a hold rating to a sell rating in a research note released on Monday morning, Zacks.com reports.

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. “

A number of other analysts have also weighed in on the stock. BidaskClub lowered shares of Virtu Financial from a sell rating to a strong sell rating in a research note on Wednesday, June 12th. BTIG Research upped their target price on shares of Axsome Therapeutics to $25.00 and gave the stock a buy rating in a research note on Thursday, March 28th. Svb Leerink assumed coverage on shares of Axsome Therapeutics in a research note on Monday, April 8th. They set an outperform rating and a $25.00 target price on the stock. HC Wainwright set a $126.00 target price on shares of AnaptysBio and gave the stock a buy rating in a research note on Monday, June 24th. Finally, SunTrust Banks restated a hold rating and set a $15.00 target price on shares of SemGroup in a research note on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $30.83.

Shares of NASDAQ:AXSM opened at $25.76 on Monday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 5.68 and a current ratio of 5.68. The stock’s 50-day simple moving average is $24.29. Axsome Therapeutics has a 1 year low of $1.94 and a 1 year high of $28.00.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Thursday, May 9th. The company reported ($0.32) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.31) by ($0.01). Analysts anticipate that Axsome Therapeutics will post -1.29 EPS for the current fiscal year.

In other Axsome Therapeutics news, Director Mark Coleman purchased 4,650 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average cost of $21.44 per share, with a total value of $99,696.00. Following the completion of the acquisition, the director now directly owns 652,648 shares of the company’s stock, valued at approximately $13,992,773.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Nick Pizzie purchased 1,920 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was acquired at an average cost of $20.80 per share, with a total value of $39,936.00. Following the completion of the acquisition, the chief financial officer now directly owns 1,920 shares of the company’s stock, valued at $39,936. The disclosure for this purchase can be found here. Insiders have purchased 10,470 shares of company stock worth $227,087 over the last 90 days. Insiders own 27.50% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Focused Wealth Management Inc acquired a new position in Axsome Therapeutics in the first quarter valued at approximately $64,000. Millennium Management LLC acquired a new position in Axsome Therapeutics in the fourth quarter valued at approximately $871,000. EAM Global Investors LLC acquired a new position in Axsome Therapeutics in the first quarter valued at approximately $1,211,000. Barclays PLC acquired a new position in Axsome Therapeutics in the fourth quarter valued at approximately $30,000. Finally, BlackRock Inc. boosted its holdings in Axsome Therapeutics by 14.6% in the fourth quarter. BlackRock Inc. now owns 64,049 shares of the company’s stock valued at $181,000 after purchasing an additional 8,137 shares in the last quarter. 44.22% of the stock is owned by hedge funds and other 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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