BidaskClub Upgrades Axsome Therapeutics (AXSM) to Sell

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Axsome Therapeutics (NASDAQ:AXSM) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Friday.

A number of other brokerages have also recently issued reports on AXSM. Zacks Investment Research cut shares of Axsome Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, January 14th. BTIG Research lifted their price objective on shares of Axsome Therapeutics to $20.00 and gave the company a “buy” rating in a report on Tuesday, January 8th. ValuEngine upgraded shares of Axsome Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, January 10th. Cantor Fitzgerald set a $16.00 price objective on shares of Axsome Therapeutics and gave the company a “buy” rating in a report on Monday, December 10th. Finally, HC Wainwright reiterated a “buy” rating and set a $10.00 price objective on shares of Axsome Therapeutics in a report on Wednesday, December 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. Axsome Therapeutics presently has a consensus rating of “Buy” and an average price target of $24.75.

Shares of NASDAQ AXSM opened at $10.90 on Friday. The stock has a market cap of $324.96 million, a PE ratio of -8.79 and a beta of 3.32. Axsome Therapeutics has a 1 year low of $1.94 and a 1 year high of $11.00. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 6.00.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.01. As a group, research analysts anticipate that Axsome Therapeutics will post -1.13 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sio Capital Management LLC lifted its position in shares of Axsome Therapeutics by 115.5% during the third quarter. Sio Capital Management LLC now owns 416,458 shares of the company’s stock valued at $1,437,000 after purchasing an additional 223,168 shares in the last quarter. Worth Venture Partners LLC bought a new position in shares of Axsome Therapeutics during the third quarter valued at about $138,000. Alethea Capital Management LLC lifted its position in shares of Axsome Therapeutics by 65.9% during the fourth quarter. Alethea Capital Management LLC now owns 908,429 shares of the company’s stock valued at $2,562,000 after purchasing an additional 360,986 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Axsome Therapeutics during the fourth quarter valued at about $98,000. Finally, BlackRock Inc. lifted its position in shares of Axsome Therapeutics by 14.6% during the fourth quarter. BlackRock Inc. now owns 64,049 shares of the company’s stock valued at $181,000 after purchasing an additional 8,137 shares in the last quarter. 12.84% of the stock is currently owned by institutional investors.

About Axsome Therapeutics

Axsome Therapeutics, Inc, a clinical stage biopharmaceutical company, is developing novel therapies for central nervous system (CNS) disorders. Its product candidate portfolio includes AXS-05, AXS-09, AXS-02, AXS-07, and AXS-06. AXS-05 is in the Phase III clinical trial in treatment resistant depression and in agitation associated with Alzheimer's disease, as well as in the Phase II clinical trial for smoking cessation.

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