Axsome Therapeutics, Inc. (AXSM) Draws Bearish Attention After Forming Bearish Double Bottom

September 8, 2018 - By Jason Dias

Axsome Therapeutics, Inc. (NASDAQ:AXSM) Logo

The chart of Axsome Therapeutics, Inc. (AXSM) shows a double bottom with $3.22 target or 4.00 % below today’s $3.35 share price. The 8 months chart pattern indicates high risk for the $87.95 million company. It was reported on Sep, 8 by Finviz.com. If the $3.22 price target is reached, the company will be worth $3.52M less. Double bottoms are rare but powerful chart patterns.

The stock decreased 2.90% or $0.1 during the last trading session, reaching $3.35. About 88,389 shares traded. Axsome Therapeutics, Inc. (NASDAQ:AXSM) has declined 15.19% since September 8, 2017 and is downtrending. It has underperformed by 27.76% the S&P500.

Analysts await Axsome Therapeutics, Inc. (NASDAQ:AXSM) to report earnings on November, 14. They expect $-0.33 EPS, down 22.22 % or $0.06 from last year’s $-0.27 per share. After $-0.32 actual EPS reported by Axsome Therapeutics, Inc. for the previous quarter, Wall Street now forecasts 3.13 % negative EPS growth.

More recent Axsome Therapeutics, Inc. (NASDAQ:AXSM) news were published by: Seekingalpha.com which released: “Axsome Therapeutics: Catalysts On The Horizon” on August 16, 2018. Also Benzinga.com published the news titled: “40 Biggest Movers From Yesterday” on August 29, 2018. Nasdaq.com‘s news article titled: “Axsome Therapeutics to Present at the 20th Annual Rodman & Renshaw Global Investment Conference” with publication date: August 28, 2018 was also an interesting one.

Axsome Therapeutics, Inc., a clinical-stage biopharmaceutical company, develops therapies for the management of central nervous system disorders. The company has market cap of $87.95 million. The companyÂ’s product candidates include AXS-05 that is in Phase III trial for the treatment of treatment resistant depression and AlzheimerÂ’s disease agitation; and AXS-02, which is in Phase III trial to treat complex regional pain syndrome, knee osteoarthritis related to bone marrow lesions, and chronic low back pain related to Modic changes. It currently has negative earnings. It is also developing AXS-06, a preclinical product candidate for CNS disorders, including chronic pain.

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