Federated Hermes Inc. Makes New $3.03 Million Investment in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Federated Hermes Inc. bought a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 25,990 shares of the company's stock, valued at approximately $3,031,000. Federated Hermes Inc. owned approximately 0.05% of Axsome Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. NBC Securities Inc. acquired a new stake in shares of Axsome Therapeutics in the 1st quarter valued at approximately $31,000. Neo Ivy Capital Management bought a new position in shares of Axsome Therapeutics in the 1st quarter valued at about $41,000. Raiffeisen Bank International AG acquired a new position in shares of Axsome Therapeutics during the 4th quarter worth about $51,000. Aquatic Capital Management LLC bought a new stake in shares of Axsome Therapeutics in the 4th quarter valued at about $76,000. Finally, GF Fund Management CO. LTD. acquired a new stake in Axsome Therapeutics in the 4th quarter valued at about $86,000. 81.49% of the stock is currently owned by institutional investors.

Axsome Therapeutics Stock Down 0.6%

Shares of NASDAQ:AXSM traded down $0.61 during trading on Friday, hitting $103.71. 104,535 shares of the company were exchanged, compared to its average volume of 787,011. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.57 and a quick ratio of 1.96. Axsome Therapeutics, Inc. has a 12-month low of $75.56 and a 12-month high of $139.13. The firm's 50 day moving average price is $105.86 and its 200-day moving average price is $110.73. The stock has a market capitalization of $5.18 billion, a P/E ratio of -20.43 and a beta of 0.51.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported ($0.92) earnings per share for the quarter, beating the consensus estimate of ($1.00) by $0.08. The company had revenue of $150.04 million during the quarter, compared to the consensus estimate of $140.02 million. Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%. On average, research analysts predict that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Insider Transactions at Axsome Therapeutics

In other news, General Counsel Hunter R. Murdock sold 6,014 shares of the firm's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $100.12, for a total transaction of $602,121.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark Coleman sold 3,750 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $105.47, for a total transaction of $395,512.50. Following the completion of the sale, the director owned 50,387 shares of the company's stock, valued at $5,314,316.89. The trade was a 6.93% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 93,437 shares of company stock valued at $9,834,215. Company insiders own 22.30% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AXSM. Morgan Stanley began coverage on Axsome Therapeutics in a research report on Thursday, July 3rd. They issued an "overweight" rating and a $190.00 price objective for the company. HC Wainwright reaffirmed a "buy" rating and set a $180.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, June 10th. Royal Bank Of Canada upped their price target on shares of Axsome Therapeutics from $184.00 to $189.00 and gave the company an "outperform" rating in a research note on Tuesday. Robert W. Baird increased their price target on shares of Axsome Therapeutics from $160.00 to $162.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $165.00 price objective (up previously from $160.00) on shares of Axsome Therapeutics in a report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Axsome Therapeutics has a consensus rating of "Buy" and a consensus price target of $178.00.

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.