Axsome Therapeutics, Inc. $AXSM Shares Purchased by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets boosted its Axsome Therapeutics stake by 60.1% in the fourth quarter, ending with 304,388 shares worth about $55.6 million.
• Axsome shares were down 3.5% in Wednesday trading, even as the stock remains near its 52-week high after opening at $222.16.
• The company recently posted mixed quarterly results: revenue rose 57.4% year over year to $191.2 million, but EPS came in below expectations at -$1.26 versus the consensus -$0.85.

BNP Paribas Financial Markets increased its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 60.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 304,388 shares of the company's stock after acquiring an additional 114,282 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.60% of Axsome Therapeutics worth $55,593,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AXSM. Vanguard Group Inc. lifted its position in Axsome Therapeutics by 6.0% in the third 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 during the last quarter. Franklin Street Advisors Inc. NC acquired a new position in Axsome Therapeutics in the fourth quarter valued at about $1,826,000. Aberdeen Group plc lifted its position in Axsome Therapeutics by 15.5% in the third 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 during the last quarter. Pictet Asset Management Holding SA lifted its position in Axsome Therapeutics by 20.4% in the fourth 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 during the last quarter. Finally, TD Asset Management Inc lifted its position in Axsome Therapeutics by 107.7% in the third 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 during the last quarter. Institutional investors and hedge funds own 81.49% of the company's stock.

Axsome Therapeutics Stock Down 3.5%

Shares of NASDAQ:AXSM opened at $222.16 on Wednesday. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32. The firm has a market capitalization of $11.43 billion, a PE ratio of -59.56 and a beta of 0.61. The firm's 50-day moving average is $196.96 and its two-hundred day moving average is $176.15. Axsome Therapeutics, Inc. has a 1 year low of $96.09 and a 1 year high of $238.56.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.85) by ($0.41). Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The business had revenue of $191.20 million for the quarter, compared to analysts' expectations of $191.10 million. The company's revenue was up 57.4% compared to the same quarter last year. Analysts predict that Axsome Therapeutics, Inc. will post -2.14 EPS for the current year.

Insider Buying and Selling

In related news, COO Mark L. Jacobson sold 233 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $228.18, for a total transaction of $53,165.94. Following the sale, the chief operating officer directly owned 4,517 shares in the company, valued at approximately $1,030,689.06. This represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ari Maizel sold 7,500 shares of the company's stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $182.42, for a total transaction of $1,368,150.00. Following the sale, the insider owned 7,500 shares in the company, valued at $1,368,150. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 29,787 shares of company stock worth $6,470,391. Company insiders own 20.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Morgan Stanley upped their target price on shares of Axsome Therapeutics from $217.00 to $242.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 5th. TD Cowen reaffirmed a "buy" rating on shares of Axsome Therapeutics in a research report on Friday, May 1st. Truist Financial raised shares of Axsome Therapeutics to a "strong-buy" rating in a research report on Wednesday, March 25th. Oppenheimer set a $280.00 target price on shares of Axsome Therapeutics in a research report on Monday, May 4th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $272.00 price target on shares of Axsome Therapeutics in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $251.26.

About Axsome Therapeutics

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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