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 stock 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

Several research firms have recently issued reports on AXSM. Morgan Stanley lowered their price objective on Axsome Therapeutics from $74.00 to $73.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 8th. Guggenheim increased their target price on shares of Axsome Therapeutics from $72.00 to $80.00 and gave the company a “buy” rating in a research report on Friday. HC Wainwright reissued a “buy” rating and set a $210.00 target price on shares of Axsome Therapeutics in a research report on Tuesday, October 4th. Jefferies Financial Group decreased their target price on shares of Axsome Therapeutics from $92.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, September 30th. Finally, Mizuho increased 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $109.45.

Axsome Therapeutics Price Performance

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

Hedge Funds Weigh In On Axsome Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Axsome Therapeutics by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 2,699,490 shares of the company’s stock worth $111,730,000 after buying an additional 13,868 shares in the last quarter. Fairmount Funds Management LLC boosted its holdings in shares of Axsome Therapeutics by 402.4% during the 1st quarter. Fairmount Funds Management LLC now owns 942,571 shares of the company’s stock worth $39,013,000 after buying an additional 754,973 shares in the last quarter. State Street Corp boosted its holdings in shares of Axsome Therapeutics by 22.0% during the 2nd quarter. State Street Corp now owns 852,983 shares of the company’s stock worth $32,669,000 after buying an additional 153,977 shares in the last quarter. Bellevue Group AG boosted its holdings in shares of Axsome Therapeutics by 10.4% during the 1st quarter. Bellevue Group AG now owns 719,482 shares of the company’s stock worth $29,779,000 after buying an additional 67,545 shares in the last quarter. Finally, Iridian Asset Management LLC CT boosted its holdings in shares of Axsome Therapeutics by 4.9% during the 2nd quarter. Iridian Asset Management LLC CT now owns 542,878 shares of the company’s stock worth $20,792,000 after buying an additional 25,298 shares in the last quarter. 54.96% of the stock is currently owned by institutional investors.

About Axsome Therapeutics

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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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