McAdam LLC Acquires New Position in Axsome Therapeutics, Inc. $AXSM

Key Points

• McAdam LLC has acquired a new stake in Axsome Therapeutics, purchasing 2,194 shares valued at approximately $256,000 in the first quarter.
• A number of institutional investors have also invested in Axsome, bringing total institutional ownership to 81.49% of the company's shares.
• Wall Street analysts remain optimistic about Axsome, with several firms issuing buy ratings and price targets ranging from $150 to $189.00.

McAdam LLC acquired a new stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,194 shares of the company's stock, valued at approximately $256,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Axsome Therapeutics in the 1st quarter valued at about $25,000. Quantbot Technologies LP bought a new stake in shares of Axsome Therapeutics in the 1st quarter valued at about $31,000. NBC Securities Inc. bought a new stake in shares of Axsome Therapeutics in the 1st quarter valued at about $31,000. AlphaQuest LLC bought a new stake in shares of Axsome Therapeutics in the 1st quarter valued at about $38,000. Finally, Neo Ivy Capital Management bought a new stake in shares of Axsome Therapeutics in the 1st quarter valued at about $41,000. Institutional investors own 81.49% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. HC Wainwright restated a "buy" rating and issued a $180.00 price target on shares of Axsome Therapeutics in a report on Tuesday, June 10th. Oppenheimer assumed coverage on shares of Axsome Therapeutics in a report on Tuesday, June 3rd. They issued an "outperform" rating and a $185.00 price target for the company. Royal Bank Of Canada boosted their price target on shares of Axsome Therapeutics from $184.00 to $189.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Wells Fargo & Company raised shares of Axsome Therapeutics to a "strong-buy" rating in a research report on Wednesday, September 3rd. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $150.00 price objective on shares of Axsome Therapeutics in a research report on Monday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $177.86.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, General Counsel Hunter R. Murdock sold 6,014 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $100.12, for a total transaction of $602,121.68. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark Coleman bought 1,575 shares of the company's stock in a transaction on Monday, September 8th. The shares were bought at an average cost of $127.28 per share, for a total transaction of $200,466.00. Following the transaction, the director owned 48,212 shares in the company, valued at $6,136,423.36. The trade was a 3.38% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 100,299 shares of company stock worth $11,766,554 in the last quarter. 22.30% of the stock is currently owned by company insiders.

Axsome Therapeutics Stock Down 0.9%

NASDAQ:AXSM opened at $122.96 on Friday. The company has a market cap of $6.14 billion, a PE ratio of -24.25 and a beta of 0.54. Axsome Therapeutics, Inc. has a twelve month low of $75.56 and a twelve month 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 company's 50 day moving average is $111.93 and its two-hundred day moving average is $110.87.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its earnings results on Monday, August 4th. The company reported ($0.92) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.08. The company had revenue of $150.04 million for 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%. Analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 EPS for the current 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.

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