Jupiter Topco LLC Makes New Investment in Axsome Therapeutics, Inc. $AXSM

Key Points

• Jupiter Topco LLC acquired 27,079 Axsome Therapeutics shares worth approximately $6.6 million, while institutional investors and hedge funds collectively own 81.49% of the company.
• Analyst sentiment is largely positive: Axsome has a consensus “Moderate Buy” rating and a $267.60 average price target, despite one “Sell” rating.
• Company insiders sold 188,766 shares worth about $43.9 million over the past 90 days. Axsome also missed its latest quarterly EPS and revenue estimates and is expected to post a loss for the full year.

Jupiter Topco LLC bought a new stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 27,079 shares of the company's stock, valued at approximately $6,631,000. Jupiter Topco LLC owned about 0.05% of Axsome Therapeutics at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AXSM. J. Goldman & Co LP purchased a new stake in Axsome Therapeutics during the 2nd quarter valued at about $5,633,000. ABS Investment Management LLC purchased a new position in Axsome Therapeutics in the 2nd quarter worth approximately $171,339,000. Hsbc Holdings PLC acquired a new position in shares of Axsome Therapeutics during the 2nd quarter worth approximately $13,667,000. PDT Partners LLC acquired a new position in shares of Axsome Therapeutics during the 2nd quarter worth approximately $514,000. Finally, Palisade Capital Management LP acquired a new position in shares of Axsome Therapeutics during the 2nd quarter worth approximately $6,153,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AXSM shares. UBS Group reaffirmed a "buy" rating on shares of Axsome Therapeutics in a report on Monday, August 24th. Piper Sandler reissued an "overweight" rating and set a $258.00 price objective on shares of Axsome Therapeutics in a research note on Monday, May 4th. Robert W. Baird upped their target price on Axsome Therapeutics from $241.00 to $246.00 and gave the company an "outperform" rating in a report on Tuesday, May 5th. BMO Capital Markets started coverage on Axsome Therapeutics in a research note on Monday, July 20th. They issued an "outperform" rating and a $310.00 target price for the company. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Axsome Therapeutics in a report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $267.60.

Insider Transactions at Axsome Therapeutics

In related news, Director Mark Coleman sold 5,537 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $223.39, for a total transaction of $1,236,910.43. Following the completion of the transaction, the director owned 29,603 shares of the company's stock, valued at approximately $6,613,014.17. This trade represents a 15.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Nick Pizzie sold 33,000 shares of the business's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $240.09, for a total value of $7,922,970.00. Following the completion of the sale, the chief financial officer directly owned 42,867 shares in the company, valued at approximately $10,291,938.03. The trade was a 43.50% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 188,766 shares of company stock worth $43,903,086. 20.60% of the stock is owned by company insiders.

Axsome Therapeutics Price Performance

NASDAQ:AXSM opened at $199.02 on Monday. Axsome Therapeutics, Inc. has a 52 week low of $112.90 and a 52 week high of $260.19. The stock's fifty day moving average is $227.43 and its two-hundred day moving average is $206.89. The company has a market capitalization of $10.42 billion, a P/E ratio of -53.07 and a beta of 0.65. 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 (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.10). Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%.The business had revenue of $218.38 million for the quarter, compared to analyst estimates of $221.11 million. Equities analysts expect that Axsome Therapeutics, Inc. will post -2.8 EPS for the current year.

Axsome Therapeutics Profile

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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