Axsome Therapeutics, Inc. $AXSM Shares Purchased by Royce & Associates LP

Key Points

• Royce & Associates LP boosted its Axsome Therapeutics stake by 67.8% in Q4, ending with 94,017 shares worth about $17.2 million. Several other hedge funds also increased positions, and institutions now own 81.49% of the company.
• Axsome shares were trading around $234.20, near the stock’s 52-week high of $238.56. The company has a market cap of about $12.05 billion and remains highly valued despite a negative earnings profile.
• In its latest earnings report, Axsome posted a larger-than-expected loss of $1.26 per share, though revenue rose 57.4% year over year to $191.2 million. Analysts remain mostly bullish, with a consensus rating of Moderate Buy and an average price target of $251.26.

Royce & Associates LP increased its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 67.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,017 shares of the company's stock after purchasing an additional 37,981 shares during the quarter. Royce & Associates LP owned 0.19% of Axsome Therapeutics worth $17,171,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Sectoral Asset Management Inc. lifted its holdings in shares of Axsome Therapeutics by 70.6% during the fourth quarter. Sectoral Asset Management Inc. now owns 1,740 shares of the company's stock worth $318,000 after purchasing an additional 720 shares during the period. Legato Capital Management LLC raised its position in Axsome Therapeutics by 90.6% during the fourth quarter. Legato Capital Management LLC now owns 9,627 shares of the company's stock valued at $1,758,000 after acquiring an additional 4,576 shares in the last quarter. BOK Financial Private Wealth Inc. purchased a new position in Axsome Therapeutics during the fourth quarter valued at approximately $91,000. Global Retirement Partners LLC raised its position in Axsome Therapeutics by 405.9% during the fourth quarter. Global Retirement Partners LLC now owns 430 shares of the company's stock valued at $79,000 after acquiring an additional 345 shares in the last quarter. Finally, Fortis Group Advisors LLC purchased a new position in Axsome Therapeutics during the fourth quarter valued at approximately $203,000. Institutional investors and hedge funds own 81.49% of the company's stock.

Axsome Therapeutics Trading Down 0.8%

Shares of AXSM stock opened at $234.20 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 company has a market cap of $12.05 billion, a price-to-earnings ratio of -62.79 and a beta of 0.59. The stock has a 50 day simple moving average of $191.04 and a 200-day simple moving average of $173.49. 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 announced 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). 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 analyst estimates of $191.10 million. The firm's revenue for the quarter was up 57.4% on a year-over-year basis. On average, equities research analysts expect that Axsome Therapeutics, Inc. will post -2.14 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Mark L. Jacobson sold 233 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $228.18, for a total transaction of $53,165.94. Following the completion of the sale, the chief operating officer directly owned 4,517 shares in the company, valued at approximately $1,030,689.06. The trade was a 4.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ari Maizel sold 7,500 shares of the business'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 value of $1,368,150.00. Following the sale, the insider owned 7,500 shares of the company's stock, valued at $1,368,150. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 72,628 shares of company stock worth $12,205,662. 20.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AXSM has been the subject of several recent research reports. Oppenheimer set a $280.00 price target on Axsome Therapeutics in a research report on Monday, May 4th. Robert W. Baird lifted their price target on Axsome Therapeutics from $241.00 to $246.00 and gave the company an "outperform" rating in a research report on Tuesday, May 5th. Guggenheim lifted their price target on Axsome Therapeutics from $245.00 to $260.00 and gave the company a "buy" rating in a research report on Monday, May 4th. HC Wainwright lifted their price target on Axsome Therapeutics from $270.00 to $290.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. Finally, Wells Fargo & Company lifted their price target on Axsome Therapeutics from $225.00 to $255.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $251.26.

Axsome Therapeutics Company 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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