Envestnet Asset Management Inc. Raises Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Envestnet Asset Management Inc. increased its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 74.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,129 shares of the company's stock after acquiring an additional 15,047 shares during the period. Envestnet Asset Management Inc. owned about 0.07% of Axsome Therapeutics worth $2,972,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Assetmark Inc. bought a new stake in shares of Axsome Therapeutics in the fourth quarter valued at $52,000. R Squared Ltd purchased a new stake in Axsome Therapeutics during the fourth quarter valued at about $64,000. KBC Group NV boosted its position in Axsome Therapeutics by 40.5% during the fourth quarter. KBC Group NV now owns 1,336 shares of the company's stock worth $113,000 after purchasing an additional 385 shares during the period. Xponance Inc. increased its stake in shares of Axsome Therapeutics by 11.6% in 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. Finally, Intrust Bank NA raised its position in shares of Axsome Therapeutics by 6.9% in the fourth quarter. Intrust Bank NA now owns 2,823 shares of the company's stock valued at $239,000 after purchasing an additional 183 shares during the period. 81.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Nick Pizzie sold 3,000 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the transaction, the chief financial officer now directly owns 42,187 shares of the company's stock, valued at $5,529,450.09. This represents a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 22.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Mizuho raised 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. Morgan Stanley upped their target price on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. William Blair reiterated an "outperform" rating on shares of Axsome Therapeutics in a research report on Tuesday, February 18th. Jefferies Financial Group assumed coverage on shares of Axsome Therapeutics in a research report on Monday, April 7th. They issued a "buy" rating and a $200.00 price objective on the stock. Finally, Truist Financial lifted their price objective on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $169.87.

Axsome Therapeutics Stock Up 0.5 %

AXSM traded up $0.56 on Thursday, hitting $112.85. The company had a trading volume of 59,699 shares, compared to its average volume of 682,180. Axsome Therapeutics, Inc. has a 52-week low of $64.11 and a 52-week high of $139.13. The stock has a fifty day simple moving average of $114.25 and a 200-day simple moving average of $103.48. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04. The firm has a market capitalization of $5.50 billion, a P/E ratio of -18.77 and a beta of 0.88.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, beating the consensus estimate of ($0.97) by $0.01. The business 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 EPS for the current fiscal year.

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.