Informed Momentum Co LLC Purchases Shares of 42,222 Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Key Points

• Informed Momentum Co LLC acquired 42,222 shares of Axsome Therapeutics during the first quarter, valued at approximately $4.9 million, making it the 10th largest holding for the firm.
• Analysts are optimistic about Axsome Therapeutics; several firms have set new price targets, with a consensus rating of "Buy" and an average price target of $178.00.
• Axsome Therapeutics reported a revenue of $150.04 million for the quarter, surpassing analyst estimates, and posted a loss per share of ($0.92) against a consensus estimate of ($1.00).

Informed Momentum Co LLC bought a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 42,222 shares of the company's stock, valued at approximately $4,924,000. Axsome Therapeutics accounts for 0.9% of Informed Momentum Co LLC's holdings, making the stock its 10th biggest holding. Informed Momentum Co LLC owned 0.09% of Axsome Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Principal Financial Group Inc. lifted its position in Axsome Therapeutics by 42.8% in the 1st quarter. Principal Financial Group Inc. now owns 295,671 shares of the company's stock valued at $34,484,000 after purchasing an additional 88,606 shares during the last quarter. Penserra Capital Management LLC acquired a new position in Axsome Therapeutics during the 1st quarter valued at $2,229,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Axsome Therapeutics by 20.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,642 shares of the company's stock valued at $4,877,000 after buying an additional 9,928 shares during the period. Trek Financial LLC bought a new stake in Axsome Therapeutics during the 1st quarter worth about $3,446,000. Finally, Edgestream Partners L.P. acquired a new stake in shares of Axsome Therapeutics in the 1st quarter valued at approximately $8,174,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Axsome Therapeutics Trading Up 0.4%

Shares of AXSM stock traded up $0.46 during trading hours on Friday, hitting $109.21. 383,364 shares of the company were exchanged, compared to its average volume of 629,885. The firm has a market cap of $5.45 billion, a P/E ratio of -21.54 and a beta of 0.51. Axsome Therapeutics, Inc. has a fifty-two week low of $75.56 and a fifty-two week high of $139.13. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.51 and a current ratio of 1.57. The company has a 50 day simple moving average of $105.62 and a two-hundred day simple moving average of $110.95.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported ($0.92) EPS for the quarter, beating 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 business had revenue of $150.04 million for the quarter, compared to the consensus estimate of $140.02 million. Equities analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AXSM. HC Wainwright reissued a "buy" rating and issued a $180.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, June 10th. Robert W. Baird lifted their target price on Axsome Therapeutics from $160.00 to $162.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Needham & Company LLC restated a "buy" rating and set a $150.00 price target on shares of Axsome Therapeutics in a research report on Monday, August 4th. Bank of America raised their target price on Axsome Therapeutics from $173.00 to $176.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, Oppenheimer assumed coverage on Axsome Therapeutics in a research note on Tuesday, June 3rd. They issued an "outperform" rating and a $185.00 price target for the company. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $178.00.

Insider Buying and Selling at Axsome Therapeutics

In related news, Director Mark Coleman sold 3,750 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $105.47, for a total transaction of $395,512.50. Following the completion of the transaction, the director directly owned 50,387 shares in the company, valued at approximately $5,314,316.89. The trade was a 6.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Hunter R. Murdock sold 6,014 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were 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 a total of 93,437 shares of company stock worth $9,834,215 in the last three months. 22.30% of the stock is currently owned by company insiders.

Axsome Therapeutics 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.