Hsbc Holdings PLC Sells 53,213 Shares of Axsome Therapeutics, Inc. $AXSM

Key Points

• Hsbc Holdings PLC reduced its stake in Axsome Therapeutics by 38.9%, now owning 83,572 shares worth approximately $9.74 million.
• Axsome Therapeutics reported a quarterly revenue of $150.04 million, surpassing analysts' expectations of $140.02 million, with an EPS of ($0.92).
• Several analysts have increased their price targets for Axsome Therapeutics, with a consensus price target of $178.00 and numerous ratings of Buy.

Hsbc Holdings PLC lowered its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 38.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 83,572 shares of the company's stock after selling 53,213 shares during the period. Hsbc Holdings PLC owned approximately 0.17% of Axsome Therapeutics worth $9,743,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AXSM. First Trust Advisors LP raised its holdings in shares of Axsome Therapeutics by 26.7% in the 4th quarter. First Trust Advisors LP now owns 54,580 shares of the company's stock valued at $4,618,000 after acquiring an additional 11,488 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of Axsome Therapeutics by 5.9% in the 4th quarter. MetLife Investment Management LLC now owns 22,277 shares of the company's stock valued at $1,885,000 after acquiring an additional 1,232 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Axsome Therapeutics by 612.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,573 shares of the company's stock valued at $387,000 after acquiring an additional 3,931 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Axsome Therapeutics by 12.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 31,228 shares of the company's stock valued at $2,643,000 after acquiring an additional 3,366 shares in the last quarter. Finally, Voya Investment Management LLC raised its holdings in shares of Axsome Therapeutics by 8.7% in the 4th quarter. Voya Investment Management LLC now owns 102,742 shares of the company's stock valued at $8,693,000 after acquiring an additional 8,259 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Robert W. Baird raised their price target on Axsome Therapeutics from $160.00 to $162.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. HC Wainwright reissued a "buy" rating and set a $180.00 price objective on shares of Axsome Therapeutics in a report on Tuesday, June 10th. Needham & Company LLC reissued a "buy" rating and set a $150.00 price objective on shares of Axsome Therapeutics in a report on Monday, August 4th. Oppenheimer initiated coverage on Axsome Therapeutics in a report on Tuesday, June 3rd. They set an "outperform" rating and a $185.00 price objective on the stock. Finally, Royal Bank Of Canada raised their price objective on Axsome Therapeutics from $184.00 to $189.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $178.00.

Insiders Place Their Bets

In other Axsome Therapeutics news, Director Roger Jeffs sold 20,000 shares of Axsome Therapeutics stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $121.60, for a total value of $2,432,000.00. Following the transaction, the director directly owned 90,974 shares of the company's stock, valued at $11,062,438.40. The trade was a 18.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Hunter R. Murdock sold 7,500 shares of Axsome Therapeutics stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $100.26, for a total value of $751,950.00. The disclosure for this sale can be found here. Insiders have sold 102,708 shares of company stock valued at $11,720,812 in the last ninety days. Company insiders own 22.30% of the company's stock.

Axsome Therapeutics Trading Down 0.4%

Axsome Therapeutics stock traded down $0.47 during trading hours on Friday, reaching $121.28. The company had a trading volume of 351,676 shares, compared to its average volume of 586,635. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.57 and a quick ratio of 1.51. The company has a 50-day moving average price of $108.21 and a 200 day moving average price of $111.14. The firm has a market cap of $6.05 billion, a price-to-earnings ratio of -23.92 and a beta of 0.51. Axsome Therapeutics, Inc. has a 12-month low of $75.56 and a 12-month high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported ($0.92) EPS for the quarter, topping analysts' consensus estimates of ($1.00) by $0.08. The business 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%. Equities analysts forecast that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Axsome Therapeutics Company 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.