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

Zacks Investment Research upgraded shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) from a hold rating to a buy rating in a research note published on Tuesday. The brokerage currently has $5.25 target price 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. “

A number of other analysts have also recently weighed in on AXSM. Aegis reiterated a buy rating and issued a $20.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, June 20th. ValuEngine upgraded Axsome Therapeutics from a strong sell rating to a sell rating in a research report on Wednesday, June 21st. BTIG Research assumed coverage on Axsome Therapeutics in a research report on Friday, May 19th. They issued a buy rating and a $14.00 price target on the stock. Finally, 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 research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Axsome Therapeutics has a consensus rating of Buy and an average price target of $17.21.

Shares of Axsome Therapeutics (NASDAQ:AXSM) opened at 4.70 on Tuesday. The company has a 50-day moving average of $5.31 and a 200-day moving average of $4.67. The firm’s market capitalization is $110.97 million. Axsome Therapeutics has a 52 week low of $3.53 and a 52 week high of $9.11.

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

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Large investors have recently made changes to their positions in the business. Sphera Funds Management LTD. grew its position in Axsome Therapeutics by 24.9% in the second 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 during the period. SG Americas Securities LLC bought a new stake in Axsome Therapeutics in the first quarter valued at $139,000. Royce & Associates LP bought a new stake in Axsome Therapeutics in the first quarter valued at $3,436,000. Nexthera Capital LP bought a new stake in Axsome Therapeutics in the first quarter valued at $1,560,000. Finally, Susquehanna International Group LLP bought a new stake in Axsome Therapeutics in the second quarter valued at $188,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.

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.

Analyst Recommendations for Axsome Therapeutics (NASDAQ:AXSM)

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