Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating restated by investment analysts at LADENBURG THALM/SH SH in a research note issued to investors on Tuesday, The Fly reports. They currently have a $165.00 price objective on the stock, up from their previous price objective of $139.00. LADENBURG THALM/SH SH’s target price points to a potential upside of 80.94% from the stock’s current price.
Several other research analysts have also weighed in on AXSM. Guggenheim lifted their price objective on Axsome Therapeutics from $65.00 to $48.00 in a research report on Wednesday, December 4th. BTIG Research lifted their price objective on Axsome Therapeutics to $97.00 and gave the stock a “buy” rating in a research report on Monday, December 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $125.00 price objective (up from $104.00) on shares of Axsome Therapeutics in a research report on Monday, December 30th. HC Wainwright reissued a “buy” rating and issued a $200.00 price objective (up from $170.00) on shares of Axsome Therapeutics in a research report on Tuesday, December 24th. Finally, BidaskClub raised Axsome Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 20th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $99.80.
AXSM traded up $0.50 during midday trading on Tuesday, hitting $91.19. 14,142 shares of the company were exchanged, compared to its average volume of 1,498,050. The firm has a market capitalization of $3.12 billion, a P/E ratio of -79.77 and a beta of 3.39. Axsome Therapeutics has a 1-year low of $7.63 and a 1-year high of $109.94. The firm’s 50 day moving average price is $75.93 and its 200-day moving average price is $37.76. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 2.80.
A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in Axsome Therapeutics by 263.1% in the 2nd quarter. BlackRock Inc. now owns 1,690,522 shares of the company’s stock valued at $43,531,000 after buying an additional 1,224,935 shares in the last quarter. Vanguard Group Inc. increased 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 worth $29,671,000 after purchasing an additional 250,498 shares in the last quarter. State Street Corp increased 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 worth $14,769,000 after purchasing an additional 78,209 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in Axsome Therapeutics during the 2nd quarter worth approximately $14,906,000. Finally, Renaissance Technologies LLC bought a new stake in Axsome Therapeutics during the 2nd quarter worth approximately $6,365,000. 54.64% of the stock is owned by institutional investors and hedge funds.
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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