Axsome Therapeutics Inc (NASDAQ:AXSM)’s stock price shot up 13.2% during trading on Thursday . The stock traded as high as $25.75 and last traded at $25.39. 2,253,330 shares were traded during trading, an increase of 19% from the average session volume of 1,887,784 shares. The stock had previously closed at $22.43.
Several research firms have commented on AXSM. Zacks Investment Research upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, May 22nd. HC Wainwright set a $30.00 price objective on Axsome Therapeutics and gave the stock a “buy” rating in a research note on Monday, June 24th. BidaskClub upgraded Axsome Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Friday, March 15th. Finally, Leerink Swann began coverage on Axsome Therapeutics in a research note on Monday, April 8th. They set an “outperform” rating and a $25.00 price objective for the company. 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’s stock. Axsome Therapeutics has an average rating of “Buy” and an average price target of $30.83.
The company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 1.08. The company’s 50-day moving average is $23.23. The company has a market cap of $857.73 million, a price-to-earnings ratio of -22.39 and a beta of 2.78.
In related news, CFO Nick Pizzie purchased 1,920 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was acquired at an average cost of $20.80 per share, for a total transaction of $39,936.00. Following the completion of the transaction, the chief financial officer now directly owns 1,920 shares of the company’s stock, valued at $39,936. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mark E. Saad purchased 3,500 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was bought at an average price of $22.33 per share, with a total value of $78,155.00. Following the completion of the transaction, the director now directly owns 7,002 shares of the company’s stock, valued at $156,354.66. The disclosure for this purchase can be found here. Insiders bought 10,470 shares of company stock valued at $227,087 over the last 90 days. Company insiders own 27.50% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Focused Wealth Management Inc acquired a new position in Axsome Therapeutics in the first quarter valued at approximately $64,000. BlackRock Inc. lifted 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 acquiring an additional 8,137 shares during the last quarter. Barclays PLC acquired a new position in Axsome Therapeutics in the fourth quarter valued at approximately $30,000. Weiss Asset Management LP acquired a new position in Axsome Therapeutics in the first quarter valued at approximately $171,000. Finally, Janney Montgomery Scott LLC acquired a new position in Axsome Therapeutics in the first quarter valued at approximately $250,000. Institutional investors and hedge funds own 44.22% of the company’s stock.
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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