Axsome Therapeutics, Inc. $AXSM is BVF Inc. IL's 2nd Largest Position

Key Points

• BVF Inc. IL has increased its stake in Axsome Therapeutics, Inc. by 21.8% during the first quarter, now owning approximately 3.43% of the company, valued at $197.1 million.
• A range of other institutional investors, including Invesco Ltd. and Assenagon Asset Management, have also significantly increased their holdings in Axsome Therapeutics, contributing to institutional ownership of about 81.49%.
• Analysts have generally positive outlooks on Axsome Therapeutics, with many upgrading their price targets and giving the stock an average rating of "Buy" and a consensus target price of $177.86.

BVF Inc. IL lifted its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 21.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,690,221 shares of the company's stock after buying an additional 302,157 shares during the quarter. Axsome Therapeutics makes up approximately 8.0% of BVF Inc. IL's portfolio, making the stock its 2nd biggest holding. BVF Inc. IL owned approximately 3.43% of Axsome Therapeutics worth $197,130,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. increased its position in shares of Axsome Therapeutics by 42.8% in the first quarter. Principal Financial Group Inc. now owns 295,671 shares of the company's stock worth $34,484,000 after purchasing an additional 88,606 shares during the last quarter. Penserra Capital Management LLC bought a new position in shares of Axsome Therapeutics in the first quarter worth approximately $2,229,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Axsome Therapeutics by 20.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,642 shares of the company's stock worth $4,877,000 after purchasing an additional 9,928 shares during the last quarter. Trek Financial LLC bought a new position in shares of Axsome Therapeutics in the first quarter worth approximately $3,446,000. Finally, Edgestream Partners L.P. bought a new position in shares of Axsome Therapeutics in the first quarter worth approximately $8,174,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Mark E. Saad sold 9,127 shares of the firm's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $125.07, for a total value of $1,141,513.89. Following the completion of the sale, the director owned 10,002 shares of the company's stock, valued at $1,250,950.14. This trade represents a 47.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Hunter R. Murdock sold 6,014 shares of the firm's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $100.12, for a total value of $602,121.68. The disclosure for this sale can be found here. Insiders sold 100,299 shares of company stock valued at $11,766,554 over the last quarter. 22.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AXSM. Royal Bank Of Canada upped their price objective on shares of Axsome Therapeutics from $184.00 to $189.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Oppenheimer initiated coverage on shares of Axsome Therapeutics in a research report on Tuesday, June 3rd. They set an "outperform" rating and a $185.00 price target on the stock. Morgan Stanley initiated coverage on shares of Axsome Therapeutics in a research note on Thursday, July 3rd. They set an "overweight" rating and a $190.00 price target on the stock. HC Wainwright reissued a "buy" rating and set a $180.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, June 10th. Finally, Cantor Fitzgerald raised shares of Axsome Therapeutics to a "strong-buy" rating in a research note on Wednesday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $177.86.

Axsome Therapeutics Trading Up 0.8%

Shares of Axsome Therapeutics stock traded up $1.00 on Monday, hitting $126.17. The stock had a trading volume of 315,634 shares, compared to its average volume of 758,597. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 1.66. Axsome Therapeutics, Inc. has a one year low of $75.56 and a one year high of $139.13. The stock has a market cap of $6.30 billion, a price-to-earnings ratio of -24.88 and a beta of 0.54. The stock's 50-day simple moving average is $110.23 and its two-hundred day simple moving average is $110.78.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.08. Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. The firm had revenue of $150.04 million for the quarter, compared to analysts' expectations of $140.02 million. As a group, sell-side analysts predict that Axsome Therapeutics, Inc. will post -2.79 EPS 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.