Pictet Asset Management Holding SA raised its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM – Free Report) by 12.9% during the third quarter, HoldingsChannel reports. The fund owned 481,524 shares of the company’s stock after acquiring an additional 54,997 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Axsome Therapeutics were worth $88,789,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of AXSM. AlphaCentric Advisors LLC raised its position in shares of Axsome Therapeutics by 3.4% in the 3rd quarter. AlphaCentric Advisors LLC now owns 6,752 shares of the company’s stock valued at $1,245,000 after purchasing an additional 221 shares during the last quarter. Privium Fund Management B.V. boosted its position in Axsome Therapeutics by 7.5% during the third quarter. Privium Fund Management B.V. now owns 42,944 shares of the company’s stock worth $7,918,000 after purchasing an additional 3,000 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in Axsome Therapeutics by 64.7% during the third quarter. Commonwealth Equity Services LLC now owns 4,019 shares of the company’s stock worth $741,000 after purchasing an additional 1,579 shares in the last quarter. Factory Mutual Insurance Co. acquired a new stake in Axsome Therapeutics in the third quarter valued at approximately $323,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Axsome Therapeutics in the third quarter valued at approximately $494,000. 81.49% of the stock is owned by institutional investors.
Axsome Therapeutics Stock Up 1.2%
Shares of AXSM opened at $133.96 on Tuesday. The firm has a market cap of $7.05 billion, a P/E ratio of -43.78 and a beta of 0.86. Axsome Therapeutics, Inc. has a 12-month low of $123.00 and a 12-month high of $260.19. The company’s 50-day moving average price is $176.31 and its 200 day moving average price is $197.60. The company has a current ratio of 1.42, a quick ratio of 1.34 and a debt-to-equity ratio of 1.21.
Axsome Therapeutics (NASDAQ:AXSM – Get Free Report) last posted its quarterly earnings data on Monday, November 2nd. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.38. Axsome Therapeutics had a negative net margin of 18.18% and a negative return on equity of 198.73%. The firm had revenue of $259.69 million during the quarter, compared to analysts’ expectations of $249.19 million. During the same quarter last year, the company posted ($0.94) EPS. The firm’s quarterly revenue was up 51.9% on a year-over-year basis. On average, sell-side analysts forecast that Axsome Therapeutics, Inc. will post -2.57 earnings per share for the current year.
Insider Buying and Selling
In other Axsome Therapeutics news, COO Mark Jacobson sold 10,000 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $208.65, for a total value of $2,086,500.00. Following the completion of the transaction, the chief operating officer owned 10,000 shares in the company, valued at $2,086,500. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 20.60% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
AXSM has been the subject of a number of research reports. Mizuho cut their target price on shares of Axsome Therapeutics from $284.00 to $272.00 and set an “outperform” rating for the company in a research note on Wednesday, November 4th. BMO Capital Markets started coverage on Axsome Therapeutics in a research report on Monday, July 20th. They set an “outperform” rating and a $310.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Thursday, October 15th. Deutsche Bank Aktiengesellschaft decreased their price objective on Axsome Therapeutics from $280.00 to $267.00 and set a “buy” rating on the stock in a report on Tuesday, September 29th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Axsome Therapeutics in a report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $267.58.
Read Our Latest Report on Axsome Therapeutics
About Axsome Therapeutics
Axsome Therapeutics is a biopharmaceutical company focused on developing and commercializing treatments for central nervous system disorders. The company is headquartered in New York and is led by founder, chairman and chief executive officer Herriot Tabuteau.
Its marketed products include Auvelity, an oral treatment for major depressive disorder in adults, and Sunosi, which is used to improve wakefulness in adults with excessive daytime sleepiness associated with narcolepsy or obstructive sleep apnea.
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