Axsome Therapeutics (AXSM) Shares Down 7.3%

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Axsome Therapeutics Inc (NASDAQ:AXSM) traded down 7.3% during mid-day trading on Wednesday . The stock traded as low as $11.69 and last traded at $12.01. 1,326,289 shares traded hands during trading, a decline of 49% from the average session volume of 2,575,922 shares. The stock had previously closed at $12.95.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Axsome Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday. BTIG Research raised their price objective on shares of Axsome Therapeutics to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, January 8th. Cantor Fitzgerald set a $16.00 price objective on shares of Axsome Therapeutics and gave the stock a “buy” rating in a research report on Monday, December 10th. BidaskClub upgraded shares of Axsome Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Friday, March 15th. Finally, HC Wainwright raised their price objective on shares of Axsome Therapeutics to $15.00 and gave the stock a “buy” rating in a research report on Monday, January 7th. Two analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $24.75.

The stock has a market cap of $381.73 million, a price-to-earnings ratio of -10.44 and a beta of 3.32. The company has a debt-to-equity ratio of 3.86, a quick ratio of 1.46 and a current ratio of 1.41.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Thursday, March 14th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.01. Research analysts expect that Axsome Therapeutics Inc will post -1.05 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Alethea Capital Management LLC increased its position in shares of Axsome Therapeutics by 65.9% during the fourth quarter. Alethea Capital Management LLC now owns 908,429 shares of the company’s stock valued at $2,562,000 after acquiring an additional 360,986 shares during the last quarter. Sio Capital Management LLC increased its position in shares of Axsome Therapeutics by 115.5% during the third quarter. Sio Capital Management LLC now owns 416,458 shares of the company’s stock valued at $1,437,000 after acquiring an additional 223,168 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Axsome Therapeutics during the fourth quarter valued at about $871,000. BlackRock Inc. increased its position in shares of Axsome Therapeutics by 14.6% during the fourth quarter. BlackRock Inc. now owns 64,049 shares of the company’s stock valued at $181,000 after acquiring an additional 8,137 shares during the last quarter. Finally, Worth Venture Partners LLC acquired a new stake in shares of Axsome Therapeutics during the third quarter valued at about $138,000. Institutional investors and hedge funds own 12.84% of the company’s stock.

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Axsome Therapeutics Company Profile (NASDAQ:AXSM)

Axsome Therapeutics, Inc, a clinical stage biopharmaceutical company, is developing novel therapies for central nervous system (CNS) disorders. Its product candidate portfolio includes AXS-05, AXS-09, AXS-02, AXS-07, and AXS-06. AXS-05 is in the Phase III clinical trial in treatment resistant depression and in agitation associated with Alzheimer's disease, as well as in the Phase II clinical trial for smoking cessation.

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