Axiom Investors LLC DE Purchases 14,137 Shares of Axsome Therapeutics, Inc. $AXSM

Key Points

• Axiom Investors LLC DE increased its Axsome Therapeutics stake by 28.7% in the fourth quarter, buying 14,137 additional shares and bringing its total holding to 63,390 shares worth about $11.6 million.
• Wall Street sentiment remains constructive, with several firms raising price targets and the stock carrying a consensus “Moderate Buy” rating and average target price of $251.26.
• Axsome reported mixed quarterly results: revenue of $191.2 million slightly beat expectations and rose 57.4% year over year, but earnings per share missed estimates; meanwhile, company insiders, including the CFO, sold shares recently.

Axiom Investors LLC DE raised its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 28.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 63,390 shares of the company's stock after purchasing an additional 14,137 shares during the quarter. Axiom Investors LLC DE owned 0.13% of Axsome Therapeutics worth $11,578,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Axsome Therapeutics by 6.0% during the 3rd quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company's stock valued at $507,739,000 after buying an additional 235,626 shares in the last quarter. Franklin Street Advisors Inc. NC purchased a new position in shares of Axsome Therapeutics during the 4th quarter valued at about $1,826,000. Aberdeen Group plc lifted its position in shares of Axsome Therapeutics by 15.5% during the 3rd quarter. Aberdeen Group plc now owns 94,648 shares of the company's stock valued at $11,495,000 after buying an additional 12,732 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Axsome Therapeutics by 107.7% during the 3rd quarter. TD Asset Management Inc now owns 44,192 shares of the company's stock valued at $5,367,000 after buying an additional 22,914 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its position in shares of Axsome Therapeutics by 20.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 436,063 shares of the company's stock valued at $79,643,000 after buying an additional 73,925 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AXSM has been the topic of a number of analyst reports. Needham & Company LLC lifted their price objective on Axsome Therapeutics from $225.00 to $255.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. Wolfe Research started coverage on Axsome Therapeutics in a report on Monday, February 23rd. They issued an "outperform" rating and a $230.00 price target on the stock. Deutsche Bank Aktiengesellschaft set a $280.00 price target on Axsome Therapeutics in a report on Tuesday, May 5th. Wells Fargo & Company boosted their price target on Axsome Therapeutics from $225.00 to $255.00 and gave the stock an "overweight" rating in a report on Tuesday, May 5th. Finally, Morgan Stanley boosted their price target on Axsome Therapeutics from $217.00 to $242.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $251.26.

Axsome Therapeutics Stock Up 4.5%

Shares of AXSM opened at $245.64 on Wednesday. The stock has a market capitalization of $12.64 billion, a price-to-earnings ratio of -65.86 and a beta of 0.61. Axsome Therapeutics, Inc. has a 1 year low of $96.09 and a 1 year high of $246.41. The business's 50 day simple moving average is $205.86 and its 200-day simple moving average is $179.97. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its earnings results on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.41). The company had revenue of $191.20 million for the quarter, compared to the consensus estimate of $191.10 million. Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. Axsome Therapeutics's quarterly revenue was up 57.4% on a year-over-year basis. As a group, equities analysts expect that Axsome Therapeutics, Inc. will post -2.24 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Nick Pizzie sold 33,000 shares of the business's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the transaction, the chief financial officer owned 42,867 shares of the company's stock, valued at approximately $10,291,938.03. The trade was a 43.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Mark L. Jacobson sold 4,517 shares of the business's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $227.94, for a total value of $1,029,604.98. Following the transaction, the chief operating officer directly owned 4,517 shares in the company, valued at approximately $1,029,604.98. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 112,457 shares of company stock worth $26,364,328. Company insiders own 20.60% of the company's stock.

Axsome Therapeutics Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome's pipeline includes several late-stage and approved product candidates.

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