Axsome Therapeutics Inc. (NASDAQ:AXSM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued 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. “

AXSM has been the subject of a number of other research reports. Cantor Fitzgerald set a $13.00 price target on Axsome Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Brean Capital reissued a “buy” rating on shares of Axsome Therapeutics in a research report on Wednesday, August 10th.

Axsome Therapeutics (NASDAQ:AXSM) traded down 3.7718% during trading on Tuesday, reaching $8.1794. 14,386 shares of the company traded hands. Axsome Therapeutics has a 52 week low of $5.37 and a 52 week high of $15.74. The firm’s market capitalization is $156.63 million. The company’s 50-day moving average price is $7.62 and its 200 day moving average price is $8.39.

A number of institutional investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. purchased a new position in shares of Axsome Therapeutics during the second quarter valued at approximately $134,000. Lombard Odier Asset Management USA Corp raised its position 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 in the last quarter. Mariner Wealth Advisors LLC bought a new position in Axsome Therapeutics during the second quarter valued at about $313,000. State Street Corp bought a new position in Axsome Therapeutics during the second quarter valued at about $856,000. Finally, Teachers Advisors Inc. bought a new position in Axsome Therapeutics during the second quarter valued at about $128,000. 30.30% of the stock is owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:AXSM

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