Axsome Therapeutics (NASDAQ:AXSM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

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 equities analysts have also recently commented on the company. ValuEngine raised Axsome Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, November 1st. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Axsome Therapeutics in a report on Thursday, October 17th. BidaskClub raised Axsome Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, October 26th. Guggenheim initiated coverage on Axsome Therapeutics in a report on Wednesday, October 16th. They issued a “buy” rating and a $48.00 target price on the stock. Finally, William Blair initiated coverage on Axsome Therapeutics in a report on Wednesday, September 18th. They issued an “outperform” rating and a $48.00 target price on the stock. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $35.13.

Axsome Therapeutics stock traded up $2.96 during trading on Tuesday, reaching $30.43. The company had a trading volume of 1,810,102 shares, compared to its average volume of 1,439,723. Axsome Therapeutics has a 52 week low of $1.94 and a 52 week high of $30.55. The firm’s 50-day simple moving average is $22.21 and its 200 day simple moving average is $23.94. The firm has a market capitalization of $955.20 million, a price-to-earnings ratio of -26.46 and a beta of 2.61. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 2.80.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Thursday, November 7th. The company reported ($0.56) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.41) by ($0.15). On average, analysts predict that Axsome Therapeutics will post -1.7 earnings per share for the current year.

In other Axsome Therapeutics news, CFO Nick Pizzie purchased 2,180 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was acquired at an average price of $24.80 per share, for a total transaction of $54,064.00. Following the purchase, the chief financial officer now owns 40,440 shares of the company’s stock, valued at approximately $1,002,912. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 27.50% of the company’s stock.

A number of hedge funds have recently modified their holdings of AXSM. Biegel & Waller LLC purchased a new stake in Axsome Therapeutics in the 2nd quarter worth $226,000. Quantitative Systematic Strategies LLC purchased a new stake in Axsome Therapeutics in the 2nd quarter worth $257,000. Virginia Retirement Systems ET AL purchased a new stake in Axsome Therapeutics in the 2nd quarter worth $379,000. Moody Aldrich Partners LLC purchased a new stake in Axsome Therapeutics in the 2nd quarter worth $1,843,000. Finally, SG Americas Securities LLC purchased a new stake in Axsome Therapeutics in the 2nd quarter worth $167,000. Institutional investors and hedge funds own 54.02% of the company’s stock.

Axsome Therapeutics Company Profile

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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