Eagle Health Investments LP Invests $15.92 Million in Axsome Therapeutics, Inc. $AXSM

Key Points

• Eagle Health Investments initiated a $15.92 million position in Axsome Therapeutics, purchasing 65,051 shares, while institutional investors collectively own 81.49% of the company.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $267.60; targets range as high as $280.
• Axsome shares opened at $218.20, but the company recently missed quarterly EPS and revenue estimates, reporting a $0.99 loss per share and $218.38 million in revenue.

Eagle Health Investments LP purchased a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 65,051 shares of the company's stock, valued at approximately $15,923,000. Axsome Therapeutics accounts for 2.6% of Eagle Health Investments LP's investment portfolio, making the stock its 15th biggest position. Eagle Health Investments LP owned approximately 0.13% of Axsome Therapeutics as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of AXSM. BlackRock Inc. acquired a new position in shares of Axsome Therapeutics during the second quarter worth about $759,695,000. Price T Rowe Associates Inc. MD raised its holdings in Axsome Therapeutics by 45.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company's stock valued at $275,763,000 after acquiring an additional 472,422 shares in the last quarter. Wellington Management Group LLP raised its holdings in Axsome Therapeutics by 84.1% in the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company's stock valued at $162,082,000 after acquiring an additional 609,516 shares in the last quarter. Invesco Ltd. lifted its stake in Axsome Therapeutics by 28.6% in the fourth quarter. Invesco Ltd. now owns 1,273,494 shares of the company's stock worth $232,591,000 after acquiring an additional 282,937 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Axsome Therapeutics by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 1,010,249 shares of the company's stock worth $184,544,000 after acquiring an additional 12,549 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company's stock.

Insider Buying and Selling at Axsome Therapeutics

In related news, CEO Herriot Tabuteau sold 49,670 shares of the firm's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $241.01, for a total transaction of $11,970,966.70. Following the transaction, the chief executive officer owned 7,229 shares of the company's stock, valued at $1,742,261.29. This trade represents a 87.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark Coleman sold 6,000 shares of the business's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $230.30, for a total value of $1,381,800.00. Following the completion of the transaction, the director owned 35,140 shares in the company, valued at $8,092,742. This trade represents a 14.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 200,766 shares of company stock valued at $46,685,646. Insiders own 20.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Oppenheimer set a $280.00 price objective on shares of Axsome Therapeutics in a research report on Monday, May 4th. Guggenheim boosted their target price on shares of Axsome Therapeutics from $260.00 to $275.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Piper Sandler reissued an "overweight" rating and issued a $258.00 target price on shares of Axsome Therapeutics in a report on Monday, May 4th. UBS Group started coverage on Axsome Therapeutics in a research note on Tuesday, August 11th. They issued a "market perform" rating on the stock. Finally, Robert W. Baird lifted their price target on Axsome Therapeutics from $241.00 to $246.00 and gave the stock an "outperform" rating in a report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $267.60.

Axsome Therapeutics Trading Up 1.2%

Shares of Axsome Therapeutics stock opened at $218.20 on Thursday. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 1.52. The company has a fifty day simple moving average of $233.99 and a 200-day simple moving average of $205.84. The stock has a market cap of $11.43 billion, a price-to-earnings ratio of -58.19 and a beta of 0.65. Axsome Therapeutics, Inc. has a 12-month low of $111.54 and a 12-month high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.10). Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%.The company had revenue of $218.38 million for the quarter, compared to analyst estimates of $221.11 million. On average, equities analysts forecast that Axsome Therapeutics, Inc. will post -2.78 EPS for the current fiscal year.

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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