Pictet Asset Management Holding SA Increases Stake in Axsome Therapeutics, Inc. $AXSM

Key Points

• Pictet Asset Management increased its stake in Axsome by 20.4% in Q4 to 436,063 shares (about 0.87% of the company), valued at roughly $79.64 million per its SEC filing.
• Wall Street remains broadly positive—multiple firms have raised price targets recently and the consensus rating is "Moderate Buy" with an average target of about $218.06.
• Significant insider selling has occurred (100,288 shares worth ~$17.14M over the last 90 days, including a CEO sale), although company insiders still own 22.4% of the stock.

Pictet Asset Management Holding SA lifted its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 20.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 436,063 shares of the company's stock after purchasing an additional 73,925 shares during the quarter. Pictet Asset Management Holding SA owned about 0.87% of Axsome Therapeutics worth $79,643,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Versant Capital Management Inc raised its position in Axsome Therapeutics by 20,300.0% during the 3rd quarter. Versant Capital Management Inc now owns 204 shares of the company's stock worth $25,000 after buying an additional 203 shares during the last quarter. First Horizon Corp purchased a new position in Axsome Therapeutics during the 3rd quarter worth approximately $34,000. Optiver Holding B.V. raised its position in Axsome Therapeutics by 82.3% during the 3rd quarter. Optiver Holding B.V. now owns 288 shares of the company's stock worth $35,000 after buying an additional 130 shares during the last quarter. Essex Investment Management Co. LLC purchased a new position in Axsome Therapeutics during the 3rd quarter worth approximately $38,000. Finally, Advisory Services Network LLC purchased a new position in Axsome Therapeutics during the 3rd quarter worth approximately $40,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of Axsome Therapeutics from $193.00 to $202.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 24th. Wolfe Research assumed coverage on shares of Axsome Therapeutics in a research report on Monday, February 23rd. They set an "outperform" rating and a $230.00 price target for the company. Royal Bank Of Canada raised their price target on shares of Axsome Therapeutics from $219.00 to $222.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 24th. HC Wainwright raised their price target on shares of Axsome Therapeutics from $200.00 to $260.00 and gave the stock a "buy" rating in a research report on Tuesday, January 20th. Finally, Guggenheim raised their price target on shares of Axsome Therapeutics from $220.00 to $245.00 and gave the stock a "buy" rating in a research report on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $218.06.

Insider Activity

In other news, insider Ari Maizel sold 7,500 shares of the firm's stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $182.42, for a total transaction of $1,368,150.00. Following the sale, the insider owned 7,500 shares of the company's stock, valued at $1,368,150. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Herriot Tabuteau sold 32,410 shares of the firm's stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $185.60, for a total transaction of $6,015,296.00. Following the sale, the chief executive officer directly owned 7,229 shares in the company, valued at $1,341,702.40. The trade was a 81.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 100,288 shares of company stock worth $17,138,187 over the last 90 days. Company insiders own 22.40% of the company's stock.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM opened at $185.00 on Wednesday. The stock has a market capitalization of $9.46 billion, a price-to-earnings ratio of -50.14 and a beta of 0.48. Axsome Therapeutics, Inc. has a 12 month low of $96.09 and a 12 month high of $193.49. The firm's 50 day simple moving average is $170.53 and its 200-day simple moving average is $161.65. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.55 and a quick ratio of 1.48.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings data on Monday, February 23rd. The company reported ($0.56) EPS for the quarter, topping analysts' consensus estimates of ($0.70) by $0.14. The business had revenue of $196.00 million for the quarter, compared to analysts' expectations of $191.33 million. Axsome Therapeutics had a negative net margin of 28.69% and a negative return on equity of 232.61%. The business's revenue was up 65.0% compared to the same quarter last year. Analysts expect that Axsome Therapeutics, Inc. will post -1.22 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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