Zacks Investment Research Upgrades Axsome Therapeutics, Inc. (AXSM) to Buy

Zacks Investment Research upgraded shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) from a hold rating to a buy rating in a research report report published on Wednesday morning. They currently have $5.50 price objective on the stock.

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 restated a buy rating and set a $31.00 price target (up from $28.00) on shares of Axsome Therapeutics in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $16.70.

Shares of Axsome Therapeutics (NASDAQ AXSM) opened at $4.70 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 3.86 and a current ratio of 3.86. Axsome Therapeutics has a one year low of $3.53 and a one year high of $7.70.

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Institutional investors and hedge funds have recently bought and sold shares of the stock. Sphera Funds Management LTD. boosted its position in Axsome Therapeutics by 24.9% during the second quarter. Sphera Funds Management LTD. now owns 501,000 shares of the company’s stock worth $2,756,000 after acquiring an additional 100,000 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Axsome Therapeutics by 118.7% during the second quarter. Goldman Sachs Group Inc. now owns 67,618 shares of the company’s stock worth $372,000 after acquiring an additional 36,698 shares during the last quarter. Susquehanna International Group LLP acquired a new position in Axsome Therapeutics in the 2nd quarter valued at about $188,000. JPMorgan Chase & Co. boosted its holdings 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 purchasing an additional 23,229 shares during the last quarter. Finally, LMR Partners LLP acquired a new position in Axsome Therapeutics in the 2nd quarter valued at about $206,000. Hedge funds and other institutional investors own 27.13% of the company’s stock.

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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