Axsome Therapeutics, Inc. (NASDAQ:AXSM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors 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. “

Other research analysts have also recently issued research reports about the company. ValuEngine raised Axsome Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 21st. Aegis reissued a “buy” rating and issued a $20.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, June 20th. Finally, Ladenburg Thalmann Financial Services reissued a “buy” rating and issued a $31.00 price objective (up previously from $28.00) on shares of Axsome Therapeutics in a research note on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $16.85.

Shares of Axsome Therapeutics (NASDAQ AXSM) traded down 1.96% on Tuesday, reaching $5.00. The company’s stock had a trading volume of 49,843 shares. The firm’s market capitalization is $118.05 million. The firm has a 50-day moving average price of $5.29 and a 200 day moving average price of $4.83. Axsome Therapeutics has a one year low of $3.53 and a one year high of $8.64.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Wednesday, August 9th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.01. On average, analysts anticipate that Axsome Therapeutics will post ($1.38) earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. bought a new stake in Axsome Therapeutics during the 1st quarter valued at $121,000. Susquehanna International Group LLP bought a new stake in Axsome Therapeutics during the 2nd quarter valued at $188,000. SG Americas Securities LLC bought a new stake in Axsome Therapeutics during the 1st quarter valued at $139,000. LMR Partners LLP bought a new stake in Axsome Therapeutics during the 2nd quarter valued at $206,000. Finally, Sphera Funds Management LTD. boosted its position in Axsome Therapeutics by 24.9% during the 2nd quarter. Sphera Funds Management LTD. now owns 501,000 shares of the company’s stock valued at $2,756,000 after acquiring an additional 100,000 shares in the last quarter. 27.12% 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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