US Bancorp DE Increases Holdings in Axsome Therapeutics, Inc. $AXSM

US Bancorp DE lifted its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,847 shares of the company’s stock after acquiring an additional 552 shares during the quarter. US Bancorp DE owned 0.27% of Axsome Therapeutics worth $13,659,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Axsome Therapeutics during the 1st quarter worth approximately $25,000. NBC Securities Inc. acquired a new position in shares of Axsome Therapeutics during the 1st quarter worth approximately $31,000. Quantbot Technologies LP acquired a new position in shares of Axsome Therapeutics during the 1st quarter worth approximately $31,000. AlphaQuest LLC acquired a new position in shares of Axsome Therapeutics during the 1st quarter worth approximately $38,000. Finally, Neo Ivy Capital Management acquired a new position in shares of Axsome Therapeutics during the 1st quarter worth approximately $41,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Wells Fargo & Company upgraded Axsome Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 3rd. Morgan Stanley assumed coverage on Axsome Therapeutics in a research report on Thursday, July 3rd. They set an “overweight” rating and a $190.00 price objective for the company. B. Riley assumed coverage on Axsome Therapeutics in a research report on Wednesday, October 1st. They set a “buy” rating and a $179.00 price objective for the company. Royal Bank Of Canada lifted their price objective on Axsome Therapeutics from $184.00 to $189.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $177.93.

Axsome Therapeutics Stock Performance

Axsome Therapeutics stock opened at $121.71 on Friday. The firm has a market capitalization of $6.07 billion, a P/E ratio of -24.01 and a beta of 0.52. The stock has a fifty day moving average price of $116.84 and a 200 day moving average price of $109.93. Axsome Therapeutics, Inc. has a 52 week low of $75.56 and a 52 week high of $139.13. The company has a current ratio of 1.57, a quick ratio of 1.51 and a debt-to-equity ratio of 1.66.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, August 4th. The company reported ($0.92) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.08. The firm had revenue of $150.04 million during the quarter, compared to analyst estimates of $140.02 million. Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%. Equities research analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Insider Transactions at Axsome Therapeutics

In other news, COO Mark L. Jacobson sold 10,000 shares of the company’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $115.96, for a total transaction of $1,159,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark Coleman acquired 1,575 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were purchased at an average price of $127.28 per share, with a total value of $200,466.00. Following the completion of the acquisition, the director owned 48,212 shares in the company, valued at approximately $6,136,423.36. The trade was a 3.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 243,332 shares of company stock valued at $28,824,746. Corporate insiders own 22.30% of the company’s stock.

About Axsome Therapeutics

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company’s commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.