Balyasny Asset Management L.P. Raises Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Balyasny Asset Management L.P. lifted its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 171.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,213 shares of the company's stock after buying an additional 114,346 shares during the quarter. Balyasny Asset Management L.P. owned 0.37% of Axsome Therapeutics worth $15,332,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of AXSM. Assetmark Inc. purchased a new stake in shares of Axsome Therapeutics in the fourth quarter valued at approximately $52,000. R Squared Ltd purchased a new stake in shares of Axsome Therapeutics in the fourth quarter valued at approximately $64,000. Aquatic Capital Management LLC purchased a new stake in shares of Axsome Therapeutics in the fourth quarter valued at approximately $76,000. KBC Group NV boosted its stake in shares of Axsome Therapeutics by 40.5% in the fourth quarter. KBC Group NV now owns 1,336 shares of the company's stock valued at $113,000 after buying an additional 385 shares in the last quarter. Finally, Xponance Inc. boosted its position in Axsome Therapeutics by 11.6% during the fourth quarter. Xponance Inc. now owns 2,659 shares of the company's stock worth $225,000 after purchasing an additional 277 shares in the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Robert W. Baird boosted their price target on Axsome Therapeutics from $160.00 to $162.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Needham & Company LLC reissued a "buy" rating and issued a $153.00 price target on shares of Axsome Therapeutics in a report on Tuesday, April 1st. Jefferies Financial Group assumed coverage on Axsome Therapeutics in a report on Monday, April 7th. They issued a "buy" rating and a $200.00 price target for the company. HC Wainwright cut their price target on Axsome Therapeutics from $200.00 to $180.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Finally, Mizuho boosted their price target on Axsome Therapeutics from $212.00 to $216.00 and gave the stock an "outperform" rating in a report on Thursday, March 27th. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Axsome Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $172.14.

Axsome Therapeutics Trading Down 1.4%

NASDAQ:AXSM traded down $1.46 on Wednesday, hitting $104.21. 310,962 shares of the stock were exchanged, compared to its average volume of 683,456. The stock has a market cap of $5.13 billion, a PE ratio of -17.40 and a beta of 0.46. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. The stock has a fifty day moving average of $111.71 and a 200-day moving average of $104.84. Axsome Therapeutics, Inc. has a fifty-two week low of $64.11 and a fifty-two week high of $139.13.

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

Insiders Place Their Bets

In other Axsome Therapeutics 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 completion of the sale, the chief financial officer now directly owns 42,187 shares in the company, valued at $5,529,450.09. This represents a 6.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 22.30% of the stock is currently owned by insiders.

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.