Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued to investors on Wednesday, TipRanks reports. They currently have a $180.00 price target on the stock.
AXSM has been the topic of a number of other research reports. BTIG Research dropped their price objective on Axsome Therapeutics from $123.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, August 10th. Morgan Stanley lowered Axsome Therapeutics from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $105.00 to $34.00 in a report on Tuesday, August 10th. Truist Securities dropped their price objective on Axsome Therapeutics from $200.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, August 10th. Mizuho reaffirmed a “buy” rating and set a $55.00 price objective on shares of Axsome Therapeutics in a report on Monday, August 23rd. Finally, Truist decreased their target price on Axsome Therapeutics from $200.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday, August 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $99.67.
Shares of AXSM traded up $1.71 during midday trading on Wednesday, hitting $27.88. The company had a trading volume of 11,210 shares, compared to its average volume of 648,992. The company’s 50-day simple moving average is $38.85 and its 200-day simple moving average is $53.31. The company has a debt-to-equity ratio of 0.68, a quick ratio of 6.20 and a current ratio of 6.20. The firm has a market capitalization of $1.05 billion, a P/E ratio of -9.15 and a beta of 2.41. Axsome Therapeutics has a 1 year low of $19.38 and a 1 year high of $87.24.
Institutional investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC increased its stake in Axsome Therapeutics by 13.2% during the second quarter. Parametric Portfolio Associates LLC now owns 14,257 shares of the company’s stock worth $962,000 after acquiring an additional 1,663 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Axsome Therapeutics during the second quarter worth about $245,000. Morgan Stanley increased its stake in Axsome Therapeutics by 122.8% during the second quarter. Morgan Stanley now owns 317,446 shares of the company’s stock worth $21,414,000 after acquiring an additional 174,980 shares during the last quarter. Perceptive Advisors LLC acquired a new stake in Axsome Therapeutics during the second quarter worth about $37,367,000. Finally, Invesco Ltd. increased its stake in Axsome Therapeutics by 24.4% during the second quarter. Invesco Ltd. now owns 164,383 shares of the company’s stock worth $11,089,000 after acquiring an additional 32,250 shares during the last quarter. Hedge funds and other institutional investors own 59.00% of the company’s stock.
Axsome Therapeutics Company Profile
Axsome Therapeutics, Inc engages in the development of novel therapies for the management of central nervous system disorders. Its product candidates include AXS-05, AXS-07, AXS-12, and AXS-14 which are being developed for multiple pain and primary care indications. The company was founded by Herriot Tabuteau on January 12, 2012 and is headquartered in New York, NY.
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