Axsome Therapeutics (AXSM) Receives a Buy from William Blair

In a report issued on November 25, Myles Minter from William Blair maintained a Buy rating on Axsome Therapeutics (AXSMResearch Report). The company’s shares closed last Monday at $38.71, close to its 52-week high of $39.94.

Minter has an average return of 52.9% when recommending Axsome Therapeutics.

According to TipRanks.com, Minter is ranked #2736 out of 5723 analysts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Axsome Therapeutics with a $41.00 average price target, representing a 10.3% upside. In a report issued on November 26, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $45.00 price target.

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Based on Axsome Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $19.14 million. In comparison, last year the company had a GAAP net loss of $8.28 million.

Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AXSM in relation to earlier this year.

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Axsome Therapeutics, Inc. is a clinical stage biopharmaceutical company, which engages in developing novel therapies for the management of central nervous system disorders. Its product candidates include AXS-02 and AXS-06 which are developing for multiple indications.