Axsome Therapeutics (NASDAQ:AXSM) Stock Rating Reaffirmed by BTIG Research
Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “positive” rating restated by investment analysts at BTIG Research in a note issued to investors on Wednesday, The Fly reports. They presently have a $48.00 price target on the stock. BTIG Research’s target price suggests a potential upside of 8.50% from the company’s current price.
A number of other research firms also recently issued reports on AXSM. Cantor Fitzgerald lifted their target price on Axsome Therapeutics from $45.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday. Guggenheim assumed coverage on Axsome Therapeutics in a research report on Wednesday, October 16th. They set a “buy” rating and a $48.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Axsome Therapeutics in a research note on Thursday, October 17th. ValuEngine downgraded Axsome Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, William Blair started coverage on Axsome Therapeutics in a research report on Wednesday, September 18th. They set an “outperform” rating and a $48.00 price target on the stock. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Axsome Therapeutics currently has an average rating of “Buy” and an average price target of $42.67.
Shares of AXSM stock opened at $44.24 on Wednesday. The firm’s fifty day moving average price is $28.30 and its two-hundred day moving average price is $25.34. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 2.80. Axsome Therapeutics has a 1 year low of $1.94 and a 1 year high of $47.68. The firm has a market capitalization of $1.36 billion, a P/E ratio of -38.47 and a beta of 2.84.
In other news, CFO Nick Pizzie acquired 2,180 shares of the stock in a transaction dated Thursday, September 26th. The shares were bought at an average cost of $24.80 per share, for a total transaction of $54,064.00. Following the purchase, the chief financial officer now directly owns 40,440 shares of the company’s stock, valued at $1,002,912. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 27.50% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of the stock. Metropolitan Life Insurance Co NY bought a new position in Axsome Therapeutics during the third quarter worth about $171,000. Point72 Asset Management L.P. acquired a new position in shares of Axsome Therapeutics in the 3rd quarter valued at $3,238,000. California State Teachers Retirement System boosted its position in shares of Axsome Therapeutics by 4.6% in the 3rd quarter. California State Teachers Retirement System now owns 39,214 shares of the company’s stock valued at $794,000 after purchasing an additional 1,722 shares during the period. State Street Corp increased its stake in Axsome Therapeutics by 12.0% in the 3rd quarter. State Street Corp now owns 729,682 shares of the company’s stock worth $14,769,000 after purchasing an additional 78,209 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in Axsome Therapeutics by 15.7% in the 3rd quarter. California Public Employees Retirement System now owns 27,134 shares of the company’s stock worth $549,000 after purchasing an additional 3,692 shares in the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.
About Axsome Therapeutics
Axsome Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in developing novel therapies for central nervous system (CNS) disorders in the United States. Its product pipeline includes AXS-05, which is in the Phase III clinical trial for the treatment resistant depression; Phase II/III clinical trials in agitation associated with Alzheimer's disease; and Phase II clinical trial for the treatment of smoking cessation, as well as for major depressive disorder.
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