Great Lakes Advisors LLC Invests $1.65 Million in Axsome Therapeutics, Inc. $AXSM

Key Points

• Great Lakes Advisors initiated a $1.65 million position in Axsome Therapeutics by purchasing 6,730 shares during the second quarter. Institutional investors collectively own 81.49% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $267.60, despite mixed ratings from Zacks Research and Weiss Ratings.
• Axsome shares opened at $207.77, while the company reported a quarterly loss of $0.99 per share and revenue of $218.38 million, both slightly below analyst expectations. Insiders sold approximately $46.7 million of stock over the past three months.

Great Lakes Advisors LLC bought a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,730 shares of the company's stock, valued at approximately $1,647,000.

A number of other institutional investors have also recently bought and sold shares of AXSM. GAMMA Investing LLC lifted its stake in Axsome Therapeutics by 14.9% during the second quarter. GAMMA Investing LLC now owns 347 shares of the company's stock worth $85,000 after purchasing an additional 45 shares during the period. Birchview Capital LP grew its stake in shares of Axsome Therapeutics by 1.0% in the 4th quarter. Birchview Capital LP now owns 6,061 shares of the company's stock valued at $1,107,000 after purchasing an additional 61 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Axsome Therapeutics by 3.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,921 shares of the company's stock worth $351,000 after buying an additional 65 shares in the last quarter. Xponance LLC lifted its position in shares of Axsome Therapeutics by 2.4% during the 4th quarter. Xponance LLC now owns 3,265 shares of the company's stock worth $596,000 after buying an additional 76 shares during the period. Finally, Assetmark Inc. grew its position in Axsome Therapeutics by 7.2% in the first quarter. Assetmark Inc. now owns 1,182 shares of the company's stock valued at $200,000 after acquiring an additional 79 shares during the period. Institutional investors and hedge funds own 81.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Zacks Research upgraded shares of Axsome Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Tuesday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Axsome Therapeutics in a research note on Friday, July 17th. Robert W. Baird lifted their target price on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the company an "outperform" rating in a research note on Tuesday, May 5th. Mizuho raised their price target 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 target price on Axsome Therapeutics in a report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $267.60.

Insider Buying and Selling at Axsome Therapeutics

In related news, Director Susan Mahony sold 300 shares of Axsome Therapeutics stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total transaction of $71,163.00. Following the completion of the sale, the director directly owned 1,129 shares of the company's stock, valued at $267,810.09. The trade was a 20.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Herriot Tabuteau sold 49,670 shares of the company's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $241.01, for a total value of $11,970,966.70. Following the completion of the sale, the chief executive officer owned 7,229 shares of the company's stock, valued at $1,742,261.29. This represents a 87.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 200,766 shares of company stock valued at $46,685,646 in the last three months. Insiders own 20.60% of the company's stock.

Axsome Therapeutics Trading Down 0.1%

AXSM stock opened at $207.77 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.43 and a debt-to-equity ratio of 1.52. Axsome Therapeutics, Inc. has a twelve month low of $112.90 and a twelve month high of $260.19. The company has a market cap of $10.88 billion, a P/E ratio of -55.41 and a beta of 0.65. The business has a fifty day moving average of $232.13 and a 200-day moving average of $206.02.

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