OMERS ADMINISTRATION Corp Takes Position in Axsome Therapeutics, Inc. $AXSM

Key Points

• OMERS Administration Corp. acquired 50,671 Axsome Therapeutics shares worth approximately $12.4 million, while institutional investors overall own 81.49% of the company.
• Axsome insiders sold about 200,766 shares valued at $46.7 million over the past 90 days, including a $7.9 million sale by CFO Nick Pizzie.
• AXSM recently traded at $207.77 after reporting a quarterly loss that missed estimates. Analysts remain broadly bullish, with a “Moderate Buy” consensus and an average price target of $267.60.

OMERS ADMINISTRATION Corp bought a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 50,671 shares of the company's stock, valued at approximately $12,403,000. OMERS ADMINISTRATION Corp owned 0.10% of Axsome Therapeutics as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AXSM. BlackRock Inc. purchased a new stake in Axsome Therapeutics in the 2nd quarter worth about $759,695,000. Price T Rowe Associates Inc. MD grew its stake in Axsome Therapeutics by 45.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company's stock valued at $275,763,000 after acquiring an additional 472,422 shares in the last quarter. Wellington Management Group LLP grew its stake in Axsome Therapeutics by 84.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company's stock valued at $162,082,000 after acquiring an additional 609,516 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Axsome Therapeutics by 28.6% in the 4th quarter. Invesco Ltd. now owns 1,273,494 shares of the company's stock valued at $232,591,000 after purchasing an additional 282,937 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Axsome Therapeutics by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 1,010,249 shares of the company's stock worth $184,544,000 after purchasing an additional 12,549 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company's stock.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 33,000 shares of the business's stock in a transaction dated Tuesday, June 9th. The stock was 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 owned 42,867 shares of the company's stock, valued at $10,291,938.03. The trade was a 43.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan Mahony sold 300 shares of the company's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total value of $71,163.00. Following the sale, the director owned 1,129 shares of the company's stock, valued at approximately $267,810.09. This trade represents a 20.99% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 200,766 shares of company stock valued at $46,685,646. Corporate insiders own 20.60% of the company's stock.

Axsome Therapeutics Price Performance

NASDAQ AXSM opened at $207.77 on Monday. The company has a quick ratio of 1.34, a current ratio of 1.43 and a debt-to-equity ratio of 1.52. The stock has a market capitalization of $10.88 billion, a PE ratio of -55.41 and a beta of 0.65. Axsome Therapeutics, Inc. has a 12-month low of $112.90 and a 12-month high of $260.19. The company has a 50 day moving average price of $232.13 and a two-hundred day moving average price of $206.16.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate 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. As a group, equities analysts predict that Axsome Therapeutics, Inc. will post -2.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. HC Wainwright reiterated a "buy" rating and issued a $290.00 price objective on shares of Axsome Therapeutics in a research note on Wednesday, July 15th. Cantor Fitzgerald reissued an "overweight" rating and set a $272.00 target price on shares of Axsome Therapeutics in a research note on Monday, May 4th. Royal Bank Of Canada lowered their price target on shares of Axsome Therapeutics from $304.00 to $297.00 and set an "outperform" rating on the stock in a report on Tuesday, August 11th. Guggenheim upped their price target on shares of Axsome Therapeutics from $260.00 to $275.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Finally, BMO Capital Markets began coverage on Axsome Therapeutics in a report on Monday, July 20th. They set an "outperform" rating and a $310.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Axsome Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $267.60.

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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