BlackRock Inc. Invests $759.70 Million in Axsome Therapeutics, Inc. $AXSM

BlackRock Inc. bought a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,103,708 shares of the company's stock, valued at approximately $759,695,000. BlackRock Inc. owned about 6.03% of Axsome Therapeutics at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Pictet Asset Management Holding SA lifted its position in shares of Axsome Therapeutics by 20.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 436,063 shares of the company's stock worth $79,643,000 after buying an additional 73,925 shares in the last quarter. Norges Bank bought a new stake in shares of Axsome Therapeutics during the 4th quarter worth $90,490,000. Axiom Investors LLC DE boosted its holdings in shares of Axsome Therapeutics by 28.7% in the 4th quarter. Axiom Investors LLC DE now owns 63,390 shares of the company's stock worth $11,578,000 after buying an additional 14,137 shares during the last quarter. M&T Bank Corp grew its position in Axsome Therapeutics by 2,553.8% during the fourth quarter. M&T Bank Corp now owns 49,466 shares of the company's stock valued at $8,277,000 after buying an additional 47,602 shares during the period. Finally, Legato Capital Management LLC increased its holdings in Axsome Therapeutics by 90.6% during the fourth quarter. Legato Capital Management LLC now owns 9,627 shares of the company's stock worth $1,758,000 after buying an additional 4,576 shares during the last quarter. Institutional investors own 81.49% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AXSM. Weiss Ratings reissued a "sell (d-)" rating on shares of Axsome Therapeutics in a report on Friday, July 17th. HC Wainwright reiterated a "buy" rating and issued a $290.00 price objective on shares of Axsome Therapeutics in a research report on Wednesday, July 15th. Robert W. Baird boosted their price target on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 5th. Mizuho raised their price objective on Axsome Therapeutics from $306.00 to $316.00 and gave the company an "outperform" rating in a report on Wednesday, August 12th. Finally, Deutsche Bank Aktiengesellschaft set a $280.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Axsome Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $267.60.

Insider Buying and Selling

In other Axsome Therapeutics news, Director Mark Coleman sold 6,000 shares of the firm's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $230.30, for a total transaction of $1,381,800.00. Following the sale, the director directly owned 35,140 shares of the company's stock, valued at $8,092,742. This trade represents a 14.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan Mahony sold 300 shares of the business's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total value of $71,163.00. Following the completion of the transaction, the director directly owned 1,129 shares in the company, valued at approximately $267,810.09. This represents a 20.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 200,766 shares of company stock worth $46,685,646 over the last ninety days. 20.60% of the stock is owned by corporate insiders.

Axsome Therapeutics Trading Down 0.1%

Shares of AXSM stock opened at $207.77 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 1.52. Axsome Therapeutics, Inc. has a 12-month low of $112.90 and a 12-month high of $260.19. The stock has a market capitalization of $10.88 billion, a P/E ratio of -55.41 and a beta of 0.65. The firm's 50 day moving average is $232.13 and its 200 day moving average is $206.02.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported ($0.99) earnings per share for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.10). Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. The firm had revenue of $218.38 million during the quarter, compared to the consensus estimate of $221.11 million. Research analysts expect that Axsome Therapeutics, Inc. will post -2.78 earnings per share for the current year.

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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