Zacks Investment Research Downgrades Axsome Therapeutics Inc. (AXSM) to Sell
Axsome Therapeutics Inc. (NASDAQ:AXSM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.
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. “
AXSM has been the topic of several other reports. Cantor Fitzgerald set a $13.00 price objective on Axsome Therapeutics and gave the company a “buy” rating in a research note on Wednesday, August 10th. Brean Capital reaffirmed a “buy” rating on shares of Axsome Therapeutics in a research note on Wednesday, August 10th.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/zacks-investment-research-downgrades-axsome-therapeutics-inc-axsm-to-sell.html
Shares of Axsome Therapeutics (NASDAQ:AXSM) traded down 3.88% during trading on Tuesday, hitting $8.17. The company had a trading volume of 18,560 shares. Axsome Therapeutics has a 12-month low of $5.37 and a 12-month high of $15.74. The stock’s market capitalization is $156.45 million. The stock has a 50-day moving average of $7.62 and a 200 day moving average of $8.39.
A number of institutional investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. purchased a new position in Axsome Therapeutics during the second quarter valued at approximately $134,000. Lombard Odier Asset Management USA Corp increased its position in Axsome Therapeutics by 2.8% in the second quarter. Lombard Odier Asset Management USA Corp now owns 341,790 shares of the company’s stock valued at $2,577,000 after buying an additional 9,400 shares in the last quarter. Mariner Wealth Advisors LLC purchased a new position in Axsome Therapeutics during the second quarter valued at approximately $313,000. State Street Corp purchased a new position in Axsome Therapeutics during the second quarter valued at approximately $856,000. Finally, Teachers Advisors Inc. purchased a new position in Axsome Therapeutics during the second quarter valued at approximately $128,000. Hedge funds and other institutional investors own 30.30% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Axsome Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axsome Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.