BVF Inc. IL Grows Position in Axsome Therapeutics, Inc. $AXSM

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 boosted its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 21.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,690,221 shares of the company's stock after acquiring an additional 302,157 shares during the period. Axsome Therapeutics accounts for about 8.0% of BVF Inc. IL's investment portfolio, making the stock its 2nd largest position. BVF Inc. IL owned about 3.43% of Axsome Therapeutics worth $197,130,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new position in Axsome Therapeutics in the 1st quarter valued at about $25,000. NBC Securities Inc. purchased a new position in Axsome Therapeutics in the 1st quarter valued at about $31,000. Quantbot Technologies LP purchased a new position in Axsome Therapeutics in the 1st quarter valued at about $31,000. AlphaQuest LLC purchased a new position in Axsome Therapeutics in the 1st quarter valued at about $38,000. Finally, Neo Ivy Capital Management purchased a new position in Axsome Therapeutics in the 1st quarter valued at about $41,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Axsome Therapeutics Stock Performance

AXSM traded up $0.76 during trading hours on Friday, hitting $125.17. 506,617 shares of the stock were exchanged, compared to its average volume of 510,939. The stock has a 50-day simple moving average of $110.23 and a 200-day simple moving average of $110.91. Axsome Therapeutics, Inc. has a 12 month low of $75.56 and a 12 month high of $139.13. The stock has a market cap of $6.25 billion, a price-to-earnings ratio of -24.69 and a beta of 0.54. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.57 and a quick ratio of 1.51.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings data 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 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. Analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Wall Street Analyst Weigh In

AXSM has been the topic of several recent analyst reports. Bank of America increased their price objective on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. HC Wainwright reissued a "buy" rating and set a $180.00 target price on shares of Axsome Therapeutics in a research report on Tuesday, June 10th. Oppenheimer assumed coverage on shares of Axsome Therapeutics in a research report on Tuesday, June 3rd. They set an "outperform" rating and a $185.00 target price for the company. Royal Bank Of Canada increased their target price 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. Finally, Wells Fargo & Company raised shares of Axsome Therapeutics to a "strong-buy" rating in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $177.86.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, General Counsel Hunter R. Murdock sold 6,014 shares of the firm's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $100.12, for a total transaction of $602,121.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark E. Saad sold 9,127 shares of the firm's stock in a transaction dated 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 sale, the director owned 10,002 shares of the company's stock, valued at $1,250,950.14. The trade was a 47.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 125,299 shares of company stock valued at $14,527,554 in the last ninety days. Company insiders own 22.30% of the company's stock.

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.