Axsome Therapeutics, Inc. $AXSM Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 2.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 337,246 shares of the company's stock after acquiring an additional 9,212 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.68% of Axsome Therapeutics worth $39,333,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of AXSM. NBC Securities Inc. acquired a new stake in Axsome Therapeutics in the 1st quarter worth about $31,000. Neo Ivy Capital Management acquired a new stake in Axsome Therapeutics in the 1st quarter worth about $41,000. Raiffeisen Bank International AG acquired a new stake in Axsome Therapeutics in the 4th quarter worth about $51,000. Aquatic Capital Management LLC acquired a new stake in Axsome Therapeutics in the 4th quarter worth about $76,000. Finally, GF Fund Management CO. LTD. acquired a new stake in Axsome Therapeutics in the 4th quarter worth about $86,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Axsome Therapeutics

In related news, COO Mark L. Jacobson sold 25,000 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $110.44, for a total value of $2,761,000.00. Following the transaction, the chief operating officer directly owned 5,783 shares in the company, valued at approximately $638,674.52. This represents a 81.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark Coleman sold 3,750 shares of the company's 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 completion of the transaction, the director owned 50,387 shares in the company, valued at $5,314,316.89. This represents a 6.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,437 shares of company stock worth $9,834,215. Insiders own 22.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wells Fargo & Company reiterated an "overweight" rating and issued a $165.00 price objective (up from $160.00) on shares of Axsome Therapeutics in a report on Tuesday, May 6th. Royal Bank Of Canada lifted their price objective on Axsome Therapeutics from $184.00 to $189.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Morgan Stanley began coverage on Axsome Therapeutics in a report on Thursday, July 3rd. They issued an "overweight" rating and a $190.00 price objective on the stock. Bank of America boosted their target price on Axsome Therapeutics from $173.00 to $176.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Cantor Fitzgerald upgraded Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $178.00.

Axsome Therapeutics Trading Up 0.4%

AXSM opened at $109.21 on Monday. Axsome Therapeutics, Inc. has a one year low of $75.56 and a one year high of $139.13. The stock has a market capitalization of $5.45 billion, a PE ratio of -21.54 and a beta of 0.51. The business's 50 day moving average price is $105.62 and its 200 day moving average price is $111.00. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.51 and a current ratio of 1.57.

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

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