1832 Asset Management L.P. Purchases Shares of 363,200 Axsome Therapeutics, Inc. $AXSM

Key Points

• 1832 Asset Management L.P. acquired 363,200 shares of Axsome Therapeutics, valued at approximately $42.36 million, representing roughly 0.74% of the company's stock.
• Axsome Therapeutics reported a quarterly revenue of $150.04 million, exceeding analysts' estimates, while the company's earnings per share were ($0.92), surpassing expectations of ($1.00).
• Research analysts have a consensus rating of "Buy" for Axsome Therapeutics, with an average price target of $178.00 set by various equity research firms.

1832 Asset Management L.P. purchased a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 363,200 shares of the company's stock, valued at approximately $42,360,000. 1832 Asset Management L.P. owned approximately 0.74% of Axsome Therapeutics at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. increased its stake in Axsome Therapeutics by 42.8% in the first quarter. Principal Financial Group Inc. now owns 295,671 shares of the company's stock valued at $34,484,000 after purchasing an additional 88,606 shares in the last quarter. Penserra Capital Management LLC bought a new stake in Axsome Therapeutics in the first quarter valued at $2,229,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Axsome Therapeutics by 20.8% in 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 purchasing an additional 9,928 shares in the last quarter. Trek Financial LLC bought a new stake in Axsome Therapeutics in the first quarter valued at $3,446,000. Finally, Edgestream Partners L.P. bought a new stake in Axsome Therapeutics in the first quarter valued at $8,174,000. 81.49% of the stock is owned by institutional investors.

Axsome Therapeutics Trading Up 1.2%

Shares of AXSM stock opened at $118.51 on Friday. Axsome Therapeutics, Inc. has a 52-week low of $75.56 and a 52-week high of $139.13. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.51 and a current ratio of 1.57. The company has a 50-day simple moving average of $106.36 and a two-hundred day simple moving average of $111.18. The company has a market capitalization of $5.91 billion, a price-to-earnings ratio of -23.37 and a beta of 0.51.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported ($0.92) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.00) by $0.08. Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. The business had revenue of $150.04 million during the quarter, compared to the consensus estimate of $140.02 million. Research analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AXSM shares. Needham & Company LLC reissued a "buy" rating and set a $150.00 target price on shares of Axsome Therapeutics in a research report on Monday, August 4th. Bank of America boosted their target price on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Robert W. Baird boosted their target price on shares of Axsome Therapeutics from $160.00 to $162.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Cantor Fitzgerald raised shares of Axsome Therapeutics to a "strong-buy" rating in a research report on Wednesday, May 14th. Finally, Oppenheimer started coverage on shares of Axsome Therapeutics in a research report on Tuesday, June 3rd. They set an "outperform" rating and a $185.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $178.00.

Insiders Place Their Bets

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 25,000 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $110.44, for a total value of $2,761,000.00. Following the completion of the sale, the chief operating officer directly owned 5,783 shares of the company's stock, valued at approximately $638,674.52. This represents a 81.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Hunter R. Murdock sold 6,014 shares of the company's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $100.12, for a total transaction of $602,121.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,437 shares of company stock valued at $9,511,745. Corporate insiders own 22.30% of the company's stock.

Axsome Therapeutics Company 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.

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