Prosperity Wealth Management Inc. Buys New Stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Prosperity Wealth Management Inc. bought a new stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,750 shares of the company’s stock, valued at approximately $321,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Intech Investment Management LLC lifted its position in Axsome Therapeutics by 46.5% during the fourth quarter. Intech Investment Management LLC now owns 16,028 shares of the company’s stock valued at $1,356,000 after acquiring an additional 5,087 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Axsome Therapeutics during the fourth quarter valued at approximately $14,771,000. Charles Schwab Investment Management Inc. lifted its position in Axsome Therapeutics by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 328,034 shares of the company’s stock valued at $27,755,000 after acquiring an additional 5,438 shares during the last quarter. Aigen Investment Management LP purchased a new stake in Axsome Therapeutics during the fourth quarter valued at approximately $395,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Axsome Therapeutics by 20.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,642 shares of the company’s stock valued at $4,877,000 after acquiring an additional 9,928 shares during the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on AXSM. Morgan Stanley increased their target price on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Mizuho upped their price target on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the company an “outperform” rating in a research note on Thursday, March 27th. HC Wainwright restated a “buy” rating and set a $180.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, June 10th. Wells Fargo & Company restated an “overweight” rating and set a $165.00 price target (up previously from $160.00) on shares of Axsome Therapeutics in a research note on Tuesday, May 6th. Finally, Truist Financial upped their price target on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Axsome Therapeutics has a consensus rating of “Buy” and an average target price of $172.33.

Axsome Therapeutics Stock Down 0.1%

NASDAQ:AXSM opened at $101.60 on Wednesday. The firm has a market capitalization of $5.00 billion, a P/E ratio of -17.61 and a beta of 0.47. Axsome Therapeutics, Inc. has a 1-year low of $72.02 and a 1-year high of $139.13. The company’s fifty day moving average price is $106.53 and its 200-day moving average price is $107.04. The company has a debt-to-equity ratio of 3.48, a current ratio of 2.03 and a quick ratio of 1.96.

Insider Transactions at Axsome Therapeutics

In related news, Director Mark Coleman sold 3,750 shares of the firm’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $105.47, for a total transaction of $395,512.50. Following the sale, the director now owns 50,387 shares in the company, valued at approximately $5,314,316.89. This trade represents a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Mark L. Jacobson sold 25,000 shares of the firm’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $110.44, for a total transaction of $2,761,000.00. Following the sale, the chief operating officer now owns 5,783 shares in the company, valued at approximately $638,674.52. This represents a 81.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,423 shares of company stock worth $7,711,619 over the last 90 days. 22.40% of the stock is currently owned by company insiders.

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.