J. Safra Sarasin Holding AG Purchases 9,998 Shares of Axsome Therapeutics, Inc. $AXSM

Key Points

• J. Safra Sarasin Holding AG increased its stake in Axsome Therapeutics by 103.5%, purchasing an additional 9,998 shares to hold a total of 19,658 shares valued at approximately $2,052,000.
• Several institutional investors significantly raised their positions in Axsome Therapeutics, with notable increases from GAMMA Investing LLC (38,571.9%) and Assenagon Asset Management S.A. (16,852.7%).
• Wall Street analysts are optimistic about Axsome Therapeutics, with many assigning a Buy rating and setting a consensus price target of $177.93 for the stock.

J. Safra Sarasin Holding AG lifted its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 103.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,658 shares of the company's stock after buying an additional 9,998 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Axsome Therapeutics were worth $2,052,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. GAMMA Investing LLC raised its position in shares of Axsome Therapeutics by 38,571.9% during the first quarter. GAMMA Investing LLC now owns 22,043 shares of the company's stock worth $2,571,000 after acquiring an additional 21,986 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Axsome Therapeutics by 6.9% during the first quarter. Rhumbline Advisers now owns 54,760 shares of the company's stock worth $6,387,000 after buying an additional 3,515 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Axsome Therapeutics during the first quarter worth approximately $31,000. Pallas Capital Advisors LLC raised its stake in shares of Axsome Therapeutics by 33.5% during the first quarter. Pallas Capital Advisors LLC now owns 35,280 shares of the company's stock worth $4,115,000 after buying an additional 8,845 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Axsome Therapeutics by 16,852.7% during the first quarter. Assenagon Asset Management S.A. now owns 627,418 shares of the company's stock worth $73,176,000 after buying an additional 623,717 shares during the last quarter. 81.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on AXSM shares. Morgan Stanley began coverage on shares of Axsome Therapeutics in a research report on Thursday, July 3rd. They set an "overweight" rating and a $190.00 target price for the company. Bank of America upped their price target on Axsome Therapeutics from $173.00 to $176.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Royal Bank Of Canada upped their price target on Axsome Therapeutics from $184.00 to $189.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Needham & Company LLC reaffirmed a "buy" rating and issued a $150.00 target price on shares of Axsome Therapeutics in a research note on Monday, August 4th. Finally, B. Riley began coverage on shares of Axsome Therapeutics in a research note on Wednesday. They issued a "buy" rating and a $179.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $177.93.

Insider Transactions at Axsome Therapeutics

In related news, Director Roger Jeffs sold 20,000 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $121.60, for a total transaction of $2,432,000.00. Following the completion of the transaction, the director directly owned 90,974 shares in the company, valued at approximately $11,062,438.40. This trade represents a 18.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Herriot Tabuteau sold 27,907 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $118.96, for a total value of $3,319,816.72. Following the transaction, the chief executive officer owned 7,229 shares of the company's stock, valued at approximately $859,961.84. The trade was a 79.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 197,948 shares of company stock worth $23,406,686 in the last 90 days. Company insiders own 22.30% of the company's stock.

Axsome Therapeutics Stock Up 0.3%

Shares of AXSM stock opened at $120.30 on Friday. The firm has a fifty day moving average of $114.94 and a 200-day moving average of $110.18. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 1.66. Axsome Therapeutics, Inc. has a 12-month low of $75.56 and a 12-month high of $139.13. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of -23.73 and a beta of 0.52.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported ($0.92) earnings per share (EPS) for the quarter, topping 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 net margin of 49.88% and a negative return on equity of 283.22%. As a group, equities research analysts predict that Axsome Therapeutics, Inc. will post -2.79 earnings per share 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.

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