Axsome Therapeutics’ (AXSM) “Buy” Rating Reaffirmed at HC Wainwright
HC Wainwright restated their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research report report published on Thursday morning, Briefing.com Automated Import reports. They currently have a $30.00 target price on the stock, up from their previous target price of $23.00.
A number of other analysts have also recently weighed in on AXSM. Zacks Investment Research raised shares of Axsome Therapeutics from a sell rating to a hold rating in a research note on Tuesday, February 5th. BidaskClub cut shares of Axsome Therapeutics from a sell rating to a strong sell rating in a research note on Sunday, March 3rd. Cantor Fitzgerald boosted their target price on shares of Axsome Therapeutics from $13.00 to $16.00 and gave the stock an overweight rating in a research note on Friday, March 15th. BTIG Research boosted their target price on shares of Axsome Therapeutics to $25.00 and gave the stock a buy rating in a research note on Thursday, March 28th. Finally, Leerink Swann initiated coverage on shares of Axsome Therapeutics in a research note on Monday, April 8th. They set an outperform rating and a $25.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $29.17.
NASDAQ AXSM opened at $24.55 on Thursday. The firm has a market cap of $785.00 million, a price-to-earnings ratio of -21.35 and a beta of 3.54. Axsome Therapeutics has a fifty-two week low of $1.94 and a fifty-two week high of $25.80. The company has a current ratio of 5.68, a quick ratio of 5.68 and a debt-to-equity ratio of 1.08.
In other Axsome Therapeutics news, Director Mark Coleman acquired 4,650 shares of Axsome Therapeutics stock in a transaction that occurred on Monday, May 13th. The shares were bought at an average price of $21.44 per share, with a total value of $99,696.00. Following the completion of the purchase, the director now directly owns 652,648 shares in the company, valued at approximately $13,992,773.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark E. Saad acquired 3,500 shares of Axsome Therapeutics stock in a transaction that occurred on Thursday, May 23rd. The stock was acquired at an average cost of $22.33 per share, for a total transaction of $78,155.00. Following the purchase, the director now owns 7,002 shares of the company’s stock, valued at $156,354.66. The disclosure for this purchase can be found here. In the last three months, insiders purchased 18,650 shares of company stock worth $307,901. 27.50% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of AXSM. BlackRock Inc. boosted its stake in Axsome Therapeutics by 14.6% during the 4th quarter. BlackRock Inc. now owns 64,049 shares of the company’s stock worth $181,000 after purchasing an additional 8,137 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Axsome Therapeutics during the 4th quarter valued at about $98,000. Barclays PLC acquired a new position in shares of Axsome Therapeutics during the 4th quarter valued at about $30,000. Millennium Management LLC purchased a new stake in Axsome Therapeutics in the 4th quarter valued at about $871,000. Finally, Tibra Equities Europe Ltd purchased a new stake in Axsome Therapeutics in the 1st quarter valued at about $319,000. 22.79% of the stock is currently owned by institutional investors and hedge funds.
About Axsome Therapeutics
Axsome Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in developing novel therapies for central nervous system (CNS) disorders in the United States. Its product pipeline includes AXS-05, which is in the Phase III clinical trial for the treatment resistant depression; Phase II/III clinical trials in agitation associated with Alzheimer's disease; and Phase II clinical trial for the treatment of smoking cessation, as well as for major depressive disorder.
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