Frontier Capital Management Co. LLC Has $4.47 Million Stock Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Frontier Capital Management Co. LLC reduced its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 56.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,768 shares of the company's stock after selling 67,772 shares during the quarter. Frontier Capital Management Co. LLC owned 0.11% of Axsome Therapeutics worth $4,465,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AXSM. Boxer Capital Management LLC bought a new stake in shares of Axsome Therapeutics in the fourth quarter worth about $39,767,000. Norges Bank acquired a new position in shares of Axsome Therapeutics during the 4th quarter worth approximately $34,100,000. BVF Inc. IL lifted its position in shares of Axsome Therapeutics by 32.7% in the fourth quarter. BVF Inc. IL now owns 1,388,064 shares of the company's stock valued at $117,444,000 after buying an additional 342,064 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Axsome Therapeutics by 6,002.7% in the fourth quarter. Principal Financial Group Inc. now owns 207,065 shares of the company's stock valued at $17,520,000 after buying an additional 203,672 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Axsome Therapeutics in the fourth quarter valued at approximately $14,771,000. 81.49% of the stock is currently owned by institutional investors.

Insider Activity at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of the company's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the sale, the chief financial officer now owns 42,187 shares in the company, valued at $5,529,450.09. This represents a 6.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 22.30% of the stock is owned by corporate insiders.

Axsome Therapeutics Price Performance

Shares of AXSM traded up $2.40 during midday trading on Monday, hitting $110.16. The company's stock had a trading volume of 566,837 shares, compared to its average volume of 682,244. Axsome Therapeutics, Inc. has a one year low of $64.11 and a one year high of $139.13. The company's fifty day simple moving average is $111.71 and its two-hundred day simple moving average is $104.84. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of -18.39 and a beta of 0.46.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. The business had revenue of $118.77 million during the quarter, compared to analysts' expectations of $117.83 million. As a group, equities analysts expect that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

AXSM has been the subject of several research reports. Royal Bank of Canada lifted their price target on Axsome Therapeutics from $190.00 to $193.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. William Blair reaffirmed an "outperform" rating on shares of Axsome Therapeutics in a report on Tuesday, February 18th. Mizuho raised their target price on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the stock an "outperform" rating in a report on Thursday, March 27th. Jefferies Financial Group started coverage on Axsome Therapeutics in a report on Monday, April 7th. They issued a "buy" rating and a $200.00 price objective for the company. Finally, Robert W. Baird lifted their price objective on Axsome Therapeutics from $160.00 to $162.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Axsome Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $172.14.

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.