Profund Advisors LLC boosted its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM – Free Report) by 608.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,291 shares of the company’s stock after purchasing an additional 6,262 shares during the period. Profund Advisors LLC’s holdings in Axsome Therapeutics were worth $1,344,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Axsome Therapeutics during the 2nd quarter valued at about $759,695,000. ABS Investment Management LLC purchased a new position in Axsome Therapeutics in the 2nd quarter worth approximately $171,339,000. Bank of America Corp DE acquired a new stake in Axsome Therapeutics in the second quarter valued at approximately $110,756,000. First Trust Advisors LP raised its stake in shares of Axsome Therapeutics by 1,230.2% during the first quarter. First Trust Advisors LP now owns 577,479 shares of the company’s stock valued at $97,606,000 after purchasing an additional 534,066 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in Axsome Therapeutics during the 2nd quarter worth $55,171,000. Institutional investors and hedge funds own 81.49% of the company’s stock.
More Axsome Therapeutics News
Here are the key news stories impacting Axsome Therapeutics this week:
- Positive Sentiment: Axsome posted third-quarter revenue of $259.7 million, up 51.9% year over year and ahead of the approximately $249.2 million consensus estimate. Its loss narrowed to $0.25 per share, substantially better than the expected $0.63–$0.69 loss and the $0.94 loss in the prior-year quarter. Axsome Therapeutics Third-Quarter Financial Results
- Positive Sentiment: Sales increased across Axsome’s key commercial brands, supporting the company’s improving revenue base. Management also highlighted pipeline milestones expected in 2027, which could provide additional long-term growth opportunities. Axsome Q3 Sales and Pipeline Milestones
- Neutral Sentiment: The earnings beat was partly offset by continued negative profitability metrics, including a negative net margin and return on equity. Investors may therefore view the results as evidence of progress, but not yet as proof of sustainable earnings power. Axsome Q3 Key Metrics
- Negative Sentiment: AUVELITY’s ADA launch is progressing more slowly than hoped. Recent incremental growth appears to be driven more by depression prescriptions among patients under 65 than by ADA prescriptions, raising concerns about the size and pace of the new indication’s commercial opportunity. Axsome Therapeutics Sentiment Meets Reality After Q3
- Negative Sentiment: Analysts questioned the durability of the revenue beat because one-time items and improved gross-to-net adjustments contributed to reported sales, rather than solely stronger prescription volume. Piper Sandler also trimmed its price target to $235 from $238, reflecting more cautious expectations. Piper Sandler Lowers Axsome Price Target
Insider Buying and Selling at Axsome Therapeutics
In other news, CEO Herriot Tabuteau sold 45,004 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $212.01, for a total transaction of $9,541,298.04. Following the transaction, the chief executive officer owned 7,229 shares of the company’s stock, valued at $1,532,620.29. This represents a 86.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Mark Jacobson sold 10,000 shares of Axsome Therapeutics stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $208.65, for a total transaction of $2,086,500.00. Following the sale, the chief operating officer owned 10,000 shares of the company’s stock, valued at approximately $2,086,500. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 59,664 shares of company stock worth $12,624,805. Company insiders own 20.60% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have issued reports on AXSM shares. Royal Bank Of Canada restated an “outperform” rating on shares of Axsome Therapeutics in a report on Wednesday, October 14th. Zacks Research raised Axsome Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Piper Sandler lowered their target price on shares of Axsome Therapeutics from $258.00 to $238.00 and set an “overweight” rating on the stock in a research note on Monday, October 26th. Truist Financial increased their price target on Axsome Therapeutics from $200.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, September 23rd. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Axsome Therapeutics in a research note on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $274.68.
Read Our Latest Stock Analysis on Axsome Therapeutics
Axsome Therapeutics Stock Down 5.8%
Shares of Axsome Therapeutics stock opened at $136.01 on Tuesday. Axsome Therapeutics, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $260.19. The firm has a fifty day moving average price of $183.33 and a two-hundred day moving average price of $198.74. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.43 and a quick ratio of 1.34.
Axsome Therapeutics (NASDAQ:AXSM – Get Free Report) last announced its quarterly earnings results on Monday, November 2nd. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.38. Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. 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 earned ($0.94) earnings per share. The company’s revenue for the quarter was up 51.9% compared to the same quarter last year. Equities analysts anticipate that Axsome Therapeutics, Inc. will post -3.04 EPS for the current year.
Axsome Therapeutics Company Profile
Axsome Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for central nervous system (CNS) disorders. Founded in 2012 and headquartered in New York, the company develops medicines for conditions with significant unmet medical needs, including depression, narcolepsy, excessive daytime sleepiness, and other neurological disorders.
Axsome’s commercial products include Auvelity (dextromethorphan and bupropion), an oral treatment approved in the United States for major depressive disorder in adults, and Sunosi (solriamfetol), a therapy for excessive daytime sleepiness associated with narcolepsy or obstructive sleep apnea.
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