Great Lakes Advisors LLC purchased a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,730 shares of the company’s stock, valued at approximately $1,647,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of Axsome Therapeutics by 14.9% in the 2nd quarter. GAMMA Investing LLC now owns 347 shares of the company’s stock valued at $85,000 after buying an additional 45 shares during the last quarter. Birchview Capital LP lifted its stake in Axsome Therapeutics by 1.0% in the fourth quarter. Birchview Capital LP now owns 6,061 shares of the company’s stock valued at $1,107,000 after acquiring an additional 61 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Axsome Therapeutics by 3.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,921 shares of the company’s stock valued at $351,000 after acquiring an additional 65 shares during the period. Xponance LLC grew its position in shares of Axsome Therapeutics by 2.4% in the 4th quarter. Xponance LLC now owns 3,265 shares of the company’s stock valued at $596,000 after acquiring an additional 76 shares during the period. Finally, Assetmark Inc. increased its stake in shares of Axsome Therapeutics by 7.2% during the 1st quarter. Assetmark Inc. now owns 1,182 shares of the company’s stock worth $200,000 after purchasing an additional 79 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.
Analyst Upgrades and Downgrades
AXSM has been the subject of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $272.00 price objective on shares of Axsome Therapeutics in a research report on Monday, May 4th. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price target on shares of Axsome Therapeutics in a report on Thursday, June 11th. HC Wainwright reaffirmed a “buy” rating and set a $290.00 price objective on shares of Axsome Therapeutics in a research report on Wednesday, July 15th. Mizuho upped their price objective on shares of Axsome Therapeutics from $306.00 to $316.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Finally, TD Cowen increased their price objective on shares of Axsome Therapeutics from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $267.60.
Axsome Therapeutics Price Performance
Shares of Axsome Therapeutics stock opened at $207.77 on Friday. Axsome Therapeutics, Inc. has a twelve month low of $112.90 and a twelve month high of $260.19. The company has a quick ratio of 1.34, a current ratio of 1.43 and a debt-to-equity ratio of 1.52. The company has a 50-day simple moving average of $232.13 and a two-hundred day simple moving average of $206.02. The stock has a market capitalization of $10.88 billion, a price-to-earnings ratio of -55.41 and a beta of 0.65.
Axsome Therapeutics (NASDAQ:AXSM – Get Free Report) last released its earnings results on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. The business had revenue of $218.38 million during the quarter, compared to the consensus estimate of $221.11 million. Analysts forecast that Axsome Therapeutics, Inc. will post -2.78 EPS for the current year.
Insider Transactions at Axsome Therapeutics
In related news, CEO Herriot Tabuteau sold 49,670 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $241.01, for a total value of $11,970,966.70. Following the completion of the transaction, the chief executive officer owned 7,229 shares in the company, valued at $1,742,261.29. This trade represents a 87.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Nick Pizzie sold 33,000 shares of Axsome Therapeutics stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the sale, the chief financial officer owned 42,867 shares in the company, valued at approximately $10,291,938.03. This represents a 43.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 200,766 shares of company stock valued at $46,685,646 over the last three months. Company insiders own 20.60% of the company’s stock.
Axsome Therapeutics Profile
Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.
Axsome’s pipeline includes several late-stage and approved product candidates.
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