J. Safra Sarasin Holding AG Makes New $1.13 Million Investment in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Key Points

• J. Safra Sarasin Holding AG acquired 9,660 shares of Axsome Therapeutics, valued at approximately $1.1 million, indicating growing institutional interest in the company.
• Other major institutional investors, including Assenagon Asset Management, have significantly increased their stakes in Axsome, with some positions rising by over 16,000% during the first quarter.
• Despite recent insider sales, where executives sold shares totaling over $9.8 million, Axsome's stock remains under strong buy recommendations from multiple analysts amid positive forecasts for its therapeutics.

J. Safra Sarasin Holding AG purchased a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 9,660 shares of the company's stock, valued at approximately $1,127,000.

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

Analysts Set New Price Targets

AXSM has been the subject of a number of recent research reports. Wells Fargo & Company reissued an "overweight" rating and set a $165.00 price target (up from $160.00) on shares of Axsome Therapeutics in a research note on Tuesday, May 6th. Needham & Company LLC reiterated a "buy" rating and issued a $150.00 price objective on shares of Axsome Therapeutics in a report on Monday. Cantor Fitzgerald raised Axsome Therapeutics to a "strong-buy" rating in a research report on Wednesday, May 14th. Royal Bank Of Canada lifted their target price on shares of Axsome Therapeutics from $184.00 to $189.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, Robert W. Baird increased their price objective on shares of Axsome Therapeutics from $160.00 to $162.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Axsome Therapeutics has a consensus rating of "Buy" and a consensus price target of $178.00.

Insider Buying and Selling at Axsome Therapeutics

In related news, COO Mark L. Jacobson sold 25,000 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $110.44, for a total value of $2,761,000.00. Following the sale, the chief operating officer directly owned 5,783 shares in the company, valued at approximately $638,674.52. The trade was a 81.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Hunter R. Murdock sold 7,500 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $100.26, for a total value of $751,950.00. The disclosure for this sale can be found here. Insiders have sold a total of 93,437 shares of company stock worth $9,834,215 over the last three months. 22.30% of the stock is currently owned by insiders.

Axsome Therapeutics Stock Performance

AXSM stock traded up $1.06 during trading on Thursday, hitting $104.32. 409,864 shares of the company's stock traded hands, compared to its average volume of 790,729. The company has a quick ratio of 1.96, a current ratio of 1.57 and a debt-to-equity ratio of 1.66. The stock has a fifty day moving average price of $105.87 and a two-hundred day moving average price of $110.65. Axsome Therapeutics, Inc. has a 52 week low of $75.56 and a 52 week high of $139.13. The stock has a market capitalization of $5.14 billion, a price-to-earnings ratio of -20.58 and a beta of 0.51.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported ($0.92) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.00) by $0.08. The firm had revenue of $150.04 million for the quarter, compared to analysts' expectations of $140.02 million. Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%. As a group, equities analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

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.