Zacks Investment Research upgraded shares of Axsome Therapeutics (NASDAQ:AXSM) from a hold rating to a buy rating in a research note published on Monday morning. They currently have $6.50 price target on the stock.

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. “

Separately, Cantor Fitzgerald set a $13.00 price objective on shares of Axsome Therapeutics and gave the stock a buy rating in a report on Friday, December 1st. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $16.90.

Axsome Therapeutics (NASDAQ:AXSM) opened at $5.55 on Monday. Axsome Therapeutics has a twelve month low of $3.53 and a twelve month high of $6.53. The company has a current ratio of 3.86, a quick ratio of 3.86 and a debt-to-equity ratio of 0.44. The stock has a market cap of $141.24 and a PE ratio of -4.08.

Several large investors have recently bought and sold shares of AXSM. Goldman Sachs Group Inc. increased its holdings in shares of Axsome Therapeutics by 118.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 67,618 shares of the company’s stock worth $372,000 after purchasing an additional 36,698 shares during the period. Susquehanna International Group LLP acquired a new stake in shares of Axsome Therapeutics during the 2nd quarter valued at about $188,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Axsome Therapeutics by 1.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,459,117 shares of the company’s stock valued at $8,026,000 after acquiring an additional 23,229 shares in the last quarter. Institutional investors own 23.62% of the company’s stock.

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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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