Axsome Therapeutics (AXSM) Rating Increased to Buy at Zacks Investment Research

Axsome Therapeutics (NASDAQ:AXSM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm presently has a $5.25 price target on the stock. Zacks Investment Research‘s target price indicates a potential upside of 10.06% 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, Cantor Fitzgerald set a $13.00 price target on shares of Axsome Therapeutics and gave the stock a “buy” rating in a research report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Axsome Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $16.65.

Axsome Therapeutics (NASDAQ AXSM) traded up $0.02 on Thursday, reaching $4.77. 77,600 shares of the company’s stock were exchanged, compared to its average volume of 178,404. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.86 and a quick ratio of 3.86. Axsome Therapeutics has a 12-month low of $3.53 and a 12-month high of $7.20.

Several hedge funds and other institutional investors have recently made changes to their positions in AXSM. Baldwin Brothers Inc. MA purchased a new position in shares of Axsome Therapeutics in the third quarter valued at $119,000. Goldman Sachs Group Inc. acquired a new stake in shares of Axsome Therapeutics in the 1st quarter valued at approximately $121,000. Schwab Charles Investment Management Inc. acquired a new stake in shares of Axsome Therapeutics in the 2nd quarter valued at approximately $134,000. SG Americas Securities LLC acquired a new stake in shares of Axsome Therapeutics in the 1st quarter valued at approximately $139,000. Finally, California State Teachers Retirement System acquired a new stake in shares of Axsome Therapeutics in the 2nd quarter valued at approximately $176,000. 23.62% of the stock is currently owned by institutional investors.

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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.

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