Axsome Therapeutics, Inc. $AXSM Shares Bought by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its position in Axsome Therapeutics by 4.5%, holding 703,279 shares valued at approximately $82 million as of the latest SEC reporting.
• Analysts have a consensus rating of "Buy" for Axsome Therapeutics, with target prices ranging from $150 to $190, indicating strong market confidence.
• The company reported a quarterly revenue of $150.04 million, exceeding expectations, with a notable earnings per share of ($0.92), better than the forecast of ($1.00).

Wellington Management Group LLP increased its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 4.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 703,279 shares of the company's stock after purchasing an additional 30,122 shares during the period. Wellington Management Group LLP owned 1.43% of Axsome Therapeutics worth $82,023,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new position in Axsome Therapeutics in the first quarter worth about $25,000. NBC Securities Inc. acquired a new position in Axsome Therapeutics in the first quarter worth about $31,000. Neo Ivy Capital Management acquired a new position in Axsome Therapeutics in the first quarter worth about $41,000. Raiffeisen Bank International AG acquired a new position in Axsome Therapeutics in the fourth quarter worth about $51,000. Finally, Aquatic Capital Management LLC acquired a new position in Axsome Therapeutics in the fourth quarter worth about $76,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AXSM has been the subject of a number of research reports. Needham & Company LLC reiterated a "buy" rating and issued a $150.00 price target on shares of Axsome Therapeutics in a research note on Monday, August 4th. Wells Fargo & Company reiterated an "overweight" rating and issued a $165.00 price target (up from $160.00) on shares of Axsome Therapeutics in a research note on Tuesday, May 6th. Morgan Stanley started coverage on shares of Axsome Therapeutics in a report on Thursday, July 3rd. They issued an "overweight" rating and a $190.00 target price on the stock. Royal Bank Of Canada raised their target price on shares of Axsome Therapeutics from $184.00 to $189.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Finally, Bank of America raised their target price on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $178.00.

Axsome Therapeutics Stock Performance

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

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported ($0.92) earnings per share for the quarter, beating analysts' consensus estimates of ($1.00) by $0.08. The company had revenue of $150.04 million for the quarter, compared to analysts' expectations of $140.02 million. Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%. As a group, sell-side analysts forecast that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Insider Activity

In other news, COO Mark L. Jacobson sold 25,000 shares of Axsome Therapeutics stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $110.44, for a total transaction of $2,761,000.00. Following the sale, the chief operating officer owned 5,783 shares of the company's stock, valued at approximately $638,674.52. The trade was a 81.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark Coleman sold 3,750 shares of Axsome Therapeutics stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $105.47, for a total value of $395,512.50. Following the sale, the director directly owned 50,387 shares in the company, valued at approximately $5,314,316.89. This trade represents a 6.93% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,437 shares of company stock valued at $9,511,745. Insiders own 22.30% of the company's stock.

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.

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