Axsome Therapeutics (NASDAQ:AXSM) Shares Down 5%

Axsome Therapeutics, Inc. (NASDAQ:AXSMGet Rating)’s share price fell 5% during mid-day trading on Friday . The company traded as low as $55.17 and last traded at $55.36. 21,754 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 1,527,777 shares. The stock had previously closed at $58.29.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AXSM. HC Wainwright reissued a “buy” rating and issued a $210.00 target price on shares of Axsome Therapeutics in a research report on Tuesday, October 4th. Cowen reduced their target price on shares of Axsome Therapeutics to $125.00 in a research report on Wednesday, October 5th. SVB Leerink boosted their target price on shares of Axsome Therapeutics from $50.00 to $75.00 in a research report on Monday, August 22nd. Mizuho boosted their target price on shares of Axsome Therapeutics from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Guggenheim upped their price objective on shares of Axsome Therapeutics from $72.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.45.

Axsome Therapeutics Price Performance

The stock has a market cap of $2.56 billion, a P/E ratio of -14.53 and a beta of 1.75. The company has a debt-to-equity ratio of 0.60, a current ratio of 4.19 and a quick ratio of 2.20. The business’s fifty day moving average price is $51.22 and its 200 day moving average price is $42.51.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AXSM. Fairmount Funds Management LLC lifted its holdings in shares of Axsome Therapeutics by 402.4% in the first quarter. Fairmount Funds Management LLC now owns 942,571 shares of the company’s stock worth $39,013,000 after acquiring an additional 754,973 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Axsome Therapeutics by 549.0% in the second quarter. Goldman Sachs Group Inc. now owns 377,337 shares of the company’s stock worth $14,452,000 after acquiring an additional 319,200 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Axsome Therapeutics by 13,464.6% in the second quarter. US Bancorp DE now owns 262,882 shares of the company’s stock worth $10,068,000 after acquiring an additional 260,944 shares during the last quarter. Pictet Asset Management SA lifted its holdings in shares of Axsome Therapeutics by 94.6% in the second quarter. Pictet Asset Management SA now owns 353,521 shares of the company’s stock worth $13,540,000 after acquiring an additional 171,849 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Axsome Therapeutics by 22.0% in the second quarter. State Street Corp now owns 852,983 shares of the company’s stock worth $32,669,000 after acquiring an additional 153,977 shares during the last quarter. Institutional investors own 54.96% of the company’s stock.

Axsome Therapeutics Company Profile

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Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company's product pipeline includes AXS-05, a therapeutic for the treatment of major depressive disorder and resistant depression disorders; and that is in the Phase III clinical trial to treat Alzheimer's disease agitation, as well as that has completed phase II clinical trial for the treatment of smoking cessation.

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