Axsome Therapeutics Inc (AXSM) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Axsome Therapeutics Inc (NASDAQ:AXSM) from a buy rating to a hold rating in a report published on Friday.

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 research firms have also recently issued reports on AXSM. Aegis reaffirmed a buy rating on shares of Axsome Therapeutics in a research report on Tuesday, March 21st. Cantor Fitzgerald set a $13.00 price objective on Axsome Therapeutics and gave the company a buy rating in a research report on Tuesday, January 3rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $17.75.

Shares of Axsome Therapeutics (NASDAQ:AXSM) traded up 3.425% during mid-day trading on Friday, reaching $3.775. The company had a trading volume of 43,581 shares. The firm’s 50 day moving average is $4.53 and its 200-day moving average is $6.20. Axsome Therapeutics has a 12-month low of $3.55 and a 12-month high of $12.69. The stock’s market capitalization is $72.46 million.

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Several institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Axsome Therapeutics by 0.7% in the third quarter. JPMorgan Chase & Co. now owns 1,592,856 shares of the company’s stock worth $12,552,000 after buying an additional 10,625 shares during the period. State Street Corp raised its position in shares of Axsome Therapeutics by 6.7% in the fourth quarter. State Street Corp now owns 134,688 shares of the company’s stock worth $908,000 after buying an additional 8,466 shares during the period. Finally, Baldwin Brothers Inc. MA purchased a new position in shares of Axsome Therapeutics during the third quarter worth $119,000. Institutional investors own 33.07% of the company’s stock.

About Axsome Therapeutics

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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