Axsome Therapeutics (AXSM) Shares Down 36%

Shares of Axsome Therapeutics Inc (NASDAQ:AXSM) traded down 36% during trading on Wednesday . The stock traded as low as $3.20 and last traded at $3.55. 4,146,200 shares traded hands during trading, an increase of 262% from the average session volume of 1,146,000 shares. The stock had previously closed at $5.55.

Several analysts recently commented on the company. Zacks Investment Research raised Axsome Therapeutics from a “hold” rating to a “buy” rating and set a $5.25 price objective on the stock in a research note on Thursday, December 14th. Cantor Fitzgerald set a $13.00 price target on Axsome Therapeutics and gave the company a “buy” rating in a research note on Friday, December 1st. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $16.90.

The firm has a market cap of $87.16 and a price-to-earnings ratio of -2.52. The company has a debt-to-equity ratio of 0.44, a quick ratio of 3.86 and a current ratio of 3.86.

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in shares of Axsome Therapeutics by 1.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,459,117 shares of the company’s stock valued at $8,026,000 after acquiring an additional 23,229 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings 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 purchasing an additional 36,698 shares during the period. Finally, Susquehanna International Group LLP bought a new position in Axsome Therapeutics during the second quarter worth about $188,000. Institutional investors own 23.62% of the company’s stock.

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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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