Axsome Therapeutics Inc. (AXSM) Given Average Recommendation of “Strong Buy” by Brokerages
Shares of Axsome Therapeutics Inc. (NASDAQ:AXSM) have been given a consensus broker rating score of 1.00 (Strong Buy) from the three brokers that cover the company, Zacks Investment Research reports. Three investment analysts have rated the stock with a strong buy rating.
Analysts have set a 1 year consensus target price of $23.33 for the company, according to Zacks. Zacks has also assigned Axsome Therapeutics an industry rank of 109 out of 265 based on the ratings given to related companies.
Several research firms have recently weighed in on AXSM. Zacks Investment Research cut Axsome Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, October 11th. Brean Capital began coverage on Axsome Therapeutics in a report on Monday, October 3rd. They set a “buy” rating and a $20.00 price target on the stock. Finally, Cantor Fitzgerald set a $13.00 price target on Axsome Therapeutics and gave the stock a “buy” rating in a report on Wednesday, August 10th.
Shares of Axsome Therapeutics (NASDAQ:AXSM) opened at 7.29 on Wednesday. Axsome Therapeutics has a 12 month low of $5.37 and a 12 month high of $15.74. The company has a 50 day moving average of $7.65 and a 200-day moving average of $8.37. The firm’s market capitalization is $139.60 million.
Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in Axsome Therapeutics by 2.0% in the first quarter. JPMorgan Chase & Co. now owns 1,586,656 shares of the company’s stock worth $13,645,000 after buying an additional 31,247 shares in the last quarter. Geode Capital Management LLC bought a new position in Axsome Therapeutics during the first quarter worth approximately $296,000. Bank of New York Mellon Corp bought a new position in Axsome Therapeutics during the second quarter worth approximately $161,000. California State Teachers Retirement System bought a new position in Axsome Therapeutics during the second quarter worth approximately $176,000. Finally, Vanguard Group Inc. raised its position in Axsome Therapeutics by 19.0% in the second quarter. Vanguard Group Inc. now owns 247,937 shares of the company’s stock worth $1,869,000 after buying an additional 39,513 shares in the last quarter. 30.30% of the stock is currently owned by institutional investors.
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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