Axsome Therapeutics (AXSM) Reaches New 1-Year Low at $3.40

Axsome Therapeutics Inc (NASDAQ:AXSM) reached a new 52-week low during trading on Tuesday . The stock traded as low as $3.40 and last traded at $5.55, with a volume of 297600 shares changing hands. The stock had previously closed at $5.60.

Several equities research analysts recently commented on AXSM shares. Zacks Investment Research cut Axsome Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, December 13th. Cantor Fitzgerald set a $13.00 price target on Axsome Therapeutics and gave the company a “buy” rating in a report on Friday, December 1st. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $16.90.

The company has a quick ratio of 3.86, a current ratio of 3.86 and a debt-to-equity ratio of 0.44. The company has a market cap of $90.34 and a P/E ratio of -2.61.

A number of hedge funds have recently bought and sold shares of AXSM. Goldman Sachs Group Inc. increased its stake in Axsome Therapeutics by 118.7% during the second quarter. Goldman Sachs Group Inc. now owns 67,618 shares of the company’s stock worth $372,000 after acquiring an additional 36,698 shares during the last quarter. Susquehanna International Group LLP acquired a new stake in Axsome Therapeutics during the second quarter worth $188,000. Finally, JPMorgan Chase & Co. increased its stake in Axsome Therapeutics by 1.6% during the third quarter. JPMorgan Chase & Co. now owns 1,459,117 shares of the company’s stock worth $8,026,000 after acquiring an additional 23,229 shares during the last quarter. 23.62% of the stock is owned by institutional investors.

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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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