Cantor Fitzgerald Reiterates a Buy Rating on Axsome Therapeutics Inc

By Carrie Williams

In a report released today, Chiara Russo from Cantor Fitzgerald reiterated a Buy rating on Axsome Therapeutics Inc (NASDAQ: AXSM), with a price target of $13. The company’s shares opened today at $7.35.

Russo noted:

“3Q16 In-Line Financials: AXSM reported 3Q16 EPS of ($0.38), relatively in line with Cantor estimate of ($0.41). AXSM finished the quarter with $33.9M in cash; however, with the additional $10M debt drawdown our pro forma estimate is ~$44M. This additional cash should provide enough operating runway through YE17.”

According to TipRanks.com, Russo is a 4-star analyst with an average return of 3.8% and a 53.9% success rate. Russo covers the Healthcare sector, focusing on stocks such as Paratek Pharmaceuticals, Flexion Therapeutics, and Cidara Therapeutics.

Axsome Therapeutics Inc has an analyst consensus of Strong Buy, with a price target consensus of $13.

The company has a one year high of $15.74 and a one year low of $5.37. Currently, Axsome Therapeutics Inc has an average volume of 35.56K.

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. The company was founded by Herriot Tabuteau on January 12, 2012 and is headquartered in New York, NY.