TD Asset Management Inc Purchases 12,294 Shares of Axsome Therapeutics, Inc. $AXSM

TD Asset Management Inc lifted its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 136.8% during the second quarter, HoldingsChannel reports. The firm owned 21,278 shares of the company’s stock after buying an additional 12,294 shares during the quarter. TD Asset Management Inc’s holdings in Axsome Therapeutics were worth $2,221,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its position in Axsome Therapeutics by 5.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 20,644 shares of the company’s stock valued at $2,408,000 after acquiring an additional 1,017 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Axsome Therapeutics by 8.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 14,923 shares of the company’s stock valued at $1,740,000 after acquiring an additional 1,178 shares in the last quarter. Lisanti Capital Growth LLC bought a new stake in Axsome Therapeutics in the 1st quarter valued at $3,881,000. DAVENPORT & Co LLC bought a new stake in Axsome Therapeutics in the 1st quarter valued at $218,000. Finally, Principal Financial Group Inc. lifted its position in Axsome Therapeutics by 42.8% in the 1st quarter. Principal Financial Group Inc. now owns 295,671 shares of the company’s stock valued at $34,484,000 after acquiring an additional 88,606 shares in the last quarter. 81.49% of the stock is owned by institutional investors.

Axsome Therapeutics Stock Down 0.2%

Shares of AXSM stock opened at $131.39 on Wednesday. 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, Inc. has a 1 year low of $75.56 and a 1 year high of $139.13. The firm’s fifty day moving average price is $120.01 and its two-hundred day moving average price is $110.66. The firm has a market capitalization of $6.56 billion, a P/E ratio of -25.92 and a beta of 0.52.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on AXSM. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Wednesday, October 8th. Royal Bank Of Canada boosted their price objective on shares of Axsome Therapeutics from $184.00 to $189.00 and gave the company an “outperform” rating in a research report on Tuesday, August 5th. B. Riley initiated coverage on shares of Axsome Therapeutics in a research report on Wednesday, October 1st. They issued a “buy” rating and a $179.00 price objective on the stock. Wells Fargo & Company upgraded shares of Axsome Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 3rd. Finally, Morgan Stanley lifted their price target on shares of Axsome Therapeutics from $191.00 to $194.00 and gave the company an “overweight” rating in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $178.20.

Insider Activity

In other news, COO Mark L. Jacobson sold 10,000 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $115.96, for a total value of $1,159,600.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark Coleman bought 1,575 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was purchased at an average cost of $127.28 per share, for a total transaction of $200,466.00. Following the completion of the acquisition, the director owned 48,212 shares in the company, valued at $6,136,423.36. This trade represents a 3.38% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 243,332 shares of company stock valued at $28,824,746 in the last 90 days. 22.40% of the stock is owned by company insiders.

Axsome Therapeutics Profile

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.