Axsome Therapeutics, Inc. $AXSM Shares Purchased by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Axsome Therapeutics by 23.8%, holding approximately 1.74% of the company, valued at about $99.95 million after acquiring an additional 164,537 shares.
• Insider transactions included notable sales, with General Counsel Hunter R. Murdock selling 7,500 shares and COO Mark L. Jacobson selling 25,000 shares, reflecting a significant reduction in their ownership positions.
• Analysts have a consensus "Buy" rating on Axsome Therapeutics, with price targets ranging from $150.00 to $185.00, suggesting potential for future growth.

Invesco Ltd. raised its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 23.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 857,001 shares of the company's stock after purchasing an additional 164,537 shares during the period. Invesco Ltd. owned 1.74% of Axsome Therapeutics worth $99,952,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AXSM. NBC Securities Inc. purchased a new position in Axsome Therapeutics in the first quarter valued at approximately $31,000. Neo Ivy Capital Management purchased a new position in Axsome Therapeutics in the first quarter valued at approximately $41,000. Raiffeisen Bank International AG purchased a new position in Axsome Therapeutics in the fourth quarter valued at approximately $51,000. Aquatic Capital Management LLC purchased a new position in Axsome Therapeutics in the fourth quarter valued at approximately $76,000. Finally, GF Fund Management CO. LTD. purchased a new position in Axsome Therapeutics in the fourth quarter valued at approximately $86,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Axsome Therapeutics

In related news, COO Mark L. Jacobson sold 25,000 shares of the company's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $110.44, for a total transaction of $2,761,000.00. Following the transaction, the chief operating officer owned 5,783 shares of the company's stock, valued at $638,674.52. This represents a 81.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Hunter R. Murdock sold 6,014 shares of the company's stock in a transaction on Monday, June 23rd. The stock was 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 90,437 shares of company stock worth $9,511,745 over the last 90 days. 22.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AXSM has been the topic of several recent analyst reports. Royal Bank Of Canada increased 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, August 5th. Oppenheimer began coverage on Axsome Therapeutics in a report on Tuesday, June 3rd. They issued an "outperform" rating and a $185.00 price objective for the company. HC Wainwright reissued a "buy" rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a report on Tuesday, June 10th. Cantor Fitzgerald raised Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, May 14th. Finally, Bank of America increased their price objective on Axsome Therapeutics from $173.00 to $176.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, Axsome Therapeutics presently has an average rating of "Buy" and a consensus target price of $178.00.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock traded up $0.16 during trading hours on Tuesday, hitting $111.29. 618,133 shares of the company were exchanged, compared to its average volume of 775,245. Axsome Therapeutics, Inc. has a 1 year low of $75.56 and a 1 year high of $139.13. The company has a current ratio of 1.57, a quick ratio of 1.51 and a debt-to-equity ratio of 1.66. The business has a 50-day moving average of $105.65 and a 200-day moving average of $111.03. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of -21.95 and a beta of 0.51.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported ($0.92) 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 business had revenue of $150.04 million during the quarter, compared to analysts' expectations of $140.02 million. As a group, analysts expect that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

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.