Zacks Investment Research Lowers 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 research report issued 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. “
Several other equities analysts also recently commented on AXSM. Brean Capital reaffirmed a “buy” rating on shares of Axsome Therapeutics in a research report on Wednesday, August 10th. Cantor Fitzgerald set a $13.00 price objective on Axsome Therapeutics and gave the company a “buy” rating in a research report on Wednesday, August 10th.
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Axsome Therapeutics (NASDAQ:AXSM) traded down 3.7718% during midday trading on Tuesday, reaching $8.1794. The company had a trading volume of 14,386 shares. Axsome Therapeutics has a 1-year low of $5.37 and a 1-year high of $15.74. The firm has a 50-day moving average of $7.62 and a 200 day moving average of $8.39. The company’s market capitalization is $156.63 million.
Several institutional investors have recently bought and sold shares of the company. Teachers Advisors Inc. purchased a new position in Axsome Therapeutics during the second quarter worth about $128,000. Schwab Charles Investment Management Inc. purchased a new position in Axsome Therapeutics during the second quarter worth about $134,000. Bank of New York Mellon Corp purchased a new position in Axsome Therapeutics during the second quarter worth about $161,000. California State Teachers Retirement System purchased a new position in Axsome Therapeutics during the second quarter worth about $176,000. Finally, BlackRock Investment Management LLC increased its position in Axsome Therapeutics by 3,828.0% in the second quarter. BlackRock Investment Management LLC now owns 38,062 shares of the company’s stock worth $287,000 after buying an additional 37,093 shares during the last quarter. 30.30% of the stock is currently 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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