Axsome Therapeutics (NASDAQ:AXSM) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of Axsome Therapeutics (NASDAQ:AXSM) from a hold rating to a sell rating in a report released on Wednesday, 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. “

Several other equities research analysts have also commented on AXSM. BidaskClub lowered Axsome Therapeutics from a buy rating to a hold rating in a research note on Wednesday, June 12th. SunTrust Banks started coverage on Axsome Therapeutics in a research note on Tuesday, May 28th. They issued a buy rating for the company. 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. ValuEngine lowered Axsome Therapeutics from a buy rating to a hold rating in a research note on Thursday, August 1st. Finally, Cantor Fitzgerald restated an overweight rating and issued a $35.00 price objective (up from $25.00) on shares of Axsome Therapeutics in a research note on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Axsome Therapeutics presently has an average rating of Buy and a consensus target price of $30.83.

NASDAQ:AXSM opened at $24.63 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 5.68 and a current ratio of 4.18. Axsome Therapeutics has a one year low of $1.94 and a one year high of $28.70. The business has a fifty day moving average price of $25.96 and a 200-day moving average price of $18.53.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.10). Equities research analysts anticipate that Axsome Therapeutics will post -1.49 EPS for the current year.

In other Axsome Therapeutics news, CFO Nick Pizzie purchased 1,920 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was acquired at an average price of $20.80 per share, for a total transaction of $39,936.00. Following the purchase, the chief financial officer now owns 1,920 shares of the company’s stock, valued at approximately $39,936. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark E. Saad purchased 3,500 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was acquired at an average price of $22.33 per share, with a total value of $78,155.00. Following the purchase, the director now directly owns 7,002 shares in the company, valued at approximately $156,354.66. The disclosure for this purchase can be found here. Insiders acquired a total of 5,820 shares of company stock valued at $127,391 in the last quarter. 27.50% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Ladenburg Thalmann Financial Services Inc. increased its holdings in Axsome Therapeutics by 41.2% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,800 shares of the company’s stock valued at $124,000 after buying an additional 1,400 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new position in Axsome Therapeutics during the second quarter valued at approximately $281,000. Schroder Investment Management Group purchased a new position in Axsome Therapeutics during the second quarter valued at approximately $76,000. Nuveen Asset Management LLC purchased a new position in Axsome Therapeutics during the second quarter valued at approximately $2,517,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in Axsome Therapeutics during the second quarter valued at approximately $14,906,000. Institutional investors and hedge funds own 45.10% of the company’s stock.

About Axsome Therapeutics

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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