Axsome Therapeutics Inc. (NASDAQ:AXSM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
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. “
Several other research firms have also issued reports on AXSM. Brean Capital set a $29.00 target price on Axsome Therapeutics and gave the stock a “buy” rating in a research report on Sunday, August 21st. Cantor Fitzgerald set a $13.00 price objective on Axsome Therapeutics and gave the company a “buy” rating in a report on Wednesday, August 10th.
Shares of Axsome Therapeutics (NASDAQ:AXSM) opened at 7.97 on Tuesday. The stock has a 50 day moving average of $7.65 and a 200-day moving average of $8.38. Axsome Therapeutics has a 52-week low of $5.37 and a 52-week high of $15.74. The stock’s market capitalization is $152.62 million.
Several institutional investors have recently added to or reduced their stakes in AXSM. JPMorgan Chase & Co. boosted its position in Axsome Therapeutics by 2.0% in the first quarter. JPMorgan Chase & Co. now owns 1,586,656 shares of the company’s stock valued at $13,645,000 after buying an additional 31,247 shares during the period. Geode Capital Management LLC purchased a new stake in Axsome Therapeutics during the first quarter valued at approximately $296,000. Schwab Charles Investment Management Inc. purchased a new stake in Axsome Therapeutics during the second quarter valued at approximately $134,000. Lombard Odier Asset Management USA Corp boosted its stake in Axsome Therapeutics by 2.8% in the second quarter. Lombard Odier Asset Management USA Corp now owns 341,790 shares of the company’s stock valued at $2,577,000 after buying an additional 9,400 shares during the last quarter. Finally, Mariner Wealth Advisors LLC purchased a new stake in Axsome Therapeutics during the second quarter valued at approximately $313,000. Institutional investors and hedge funds own 30.30% 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.
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