Axsome Therapeutics, Inc. (NASDAQ:AXSM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm presently has a $5.50 target price on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 13.40% from the stock’s previous close.

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. “

Separately, Ladenburg Thalmann Financial Services reiterated a “buy” rating and issued a $31.00 price target (up from $28.00) on shares of Axsome Therapeutics in a report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $16.70.

Shares of Axsome Therapeutics (NASDAQ AXSM) traded down $0.05 during midday trading on Wednesday, reaching $4.85. The company had a trading volume of 110,100 shares, compared to its average volume of 178,834. Axsome Therapeutics has a 52-week low of $3.53 and a 52-week high of $7.75. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.86 and a quick ratio of 3.86.

COPYRIGHT VIOLATION WARNING: This news story was posted by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The correct version of this news story can be read at https://www.americanbankingnews.com/2017/11/15/axsome-therapeutics-inc-axsm-upgraded-to-buy-by-zacks-investment-research.html.

A number of large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in Axsome Therapeutics by 1.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,459,117 shares of the company’s stock valued at $8,026,000 after buying an additional 23,229 shares during the last quarter. Sphera Funds Management LTD. boosted its position in Axsome Therapeutics by 24.9% in the 2nd quarter. Sphera Funds Management LTD. now owns 501,000 shares of the company’s stock valued at $2,756,000 after buying an additional 100,000 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Axsome Therapeutics by 118.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 67,618 shares of the company’s stock valued at $372,000 after buying an additional 36,698 shares during the last quarter. LMR Partners LLP purchased a new position in Axsome Therapeutics in the 2nd quarter valued at about $206,000. Finally, Susquehanna International Group LLP purchased a new position in Axsome Therapeutics in the 2nd quarter valued at about $188,000. 27.13% of the stock is owned by institutional investors.

About Axsome Therapeutics

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.

Get a free copy of the Zacks research report on Axsome Therapeutics (AXSM)

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.