Axsome Therapeutics, Inc. (AXSM) Rating Increased to Buy at Zacks Investment Research

Axsome Therapeutics, Inc. (NASDAQ:AXSM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage currently has a $5.50 price target on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.24% from the stock’s current price.

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. “

Separately, Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and issued a $31.00 target price (up from $28.00) on shares of Axsome Therapeutics in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Axsome Therapeutics presently has an average rating of “Buy” and an average target price of $16.70.

Axsome Therapeutics (AXSM) traded down $0.10 during trading hours on Wednesday, hitting $4.90. 112,300 shares of the stock traded hands, compared to its average volume of 178,371. Axsome Therapeutics has a 12-month low of $3.53 and a 12-month high of $7.75. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.86 and a quick ratio of 3.86.

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Institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. purchased a new position in Axsome Therapeutics in the first quarter worth about $121,000. Susquehanna International Group LLP purchased a new position in Axsome Therapeutics in the second quarter worth about $188,000. LMR Partners LLP purchased a new position in Axsome Therapeutics in the second quarter worth about $206,000. Sphera Funds Management LTD. raised its holdings in Axsome Therapeutics by 24.9% in the second quarter. Sphera Funds Management LTD. now owns 501,000 shares of the company’s stock worth $2,756,000 after buying an additional 100,000 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Axsome Therapeutics by 1.6% in the third quarter. JPMorgan Chase & Co. now owns 1,459,117 shares of the company’s stock worth $8,026,000 after buying an additional 23,229 shares during the last quarter. 27.13% of the stock is owned by institutional investors and hedge funds.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in developing therapies for the management of central nervous system (CNS) disorders, including pain. It operates in the business of developing novel therapies for the management of CNS disorders segment. Its product candidate, AXS-02 (disodium zoledronate tetrahydrate), is an oral, targeted, non opioid therapeutic for chronic pain.

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