Scientech Research LLC Purchases Shares of 9,759 Axsome Therapeutics, Inc. $AXSM

Key Points

• Scientech Research LLC has purchased 9,759 shares of Axsome Therapeutics, Inc., with a total investment valued at approximately $1,138,000.
• Major institutional investors, including Principal Financial Group and UBS Asset Management, have significantly increased their stakes in Axsome Therapeutics, contributing to an institutional ownership level of 81.49%.
• Analysts maintain a positive outlook for Axsome Therapeutics, with an average rating of "Buy" and a consensus price target of $177.86.

Scientech Research LLC purchased a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,759 shares of the company's stock, valued at approximately $1,138,000.

A number of other large investors also recently modified their holdings of AXSM. Caitong International Asset Management Co. Ltd acquired a new position in shares of Axsome Therapeutics during the first quarter worth approximately $25,000. NBC Securities Inc. acquired a new position in shares of Axsome Therapeutics during the first quarter worth approximately $31,000. Quantbot Technologies LP acquired a new position in shares of Axsome Therapeutics during the first quarter worth approximately $31,000. AlphaQuest LLC acquired a new position in shares of Axsome Therapeutics during the first quarter worth approximately $38,000. Finally, Neo Ivy Capital Management acquired a new position in shares of Axsome Therapeutics during the first quarter worth approximately $41,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Axsome Therapeutics news, Director Roger Jeffs sold 13,464 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $123.68, for a total value of $1,665,227.52. Following the sale, the director directly owned 57,510 shares in the company, valued at $7,112,836.80. This represents a 18.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Hunter R. Murdock sold 6,014 shares of the company's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $100.12, for a total value of $602,121.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,299 shares of company stock valued at $11,766,554. 22.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

AXSM has been the subject of a number of research analyst reports. Cantor Fitzgerald upgraded Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, May 14th. Morgan Stanley initiated coverage on Axsome Therapeutics in a report on Thursday, July 3rd. They set an "overweight" rating and a $190.00 price target for the company. Needham & Company LLC reiterated a "buy" rating and set a $150.00 price target on shares of Axsome Therapeutics in a report on Monday, August 4th. Bank of America upped their price target on Axsome Therapeutics from $173.00 to $176.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Royal Bank Of Canada boosted their price objective on Axsome Therapeutics from $184.00 to $189.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $177.86.

Axsome Therapeutics Stock Performance

Shares of AXSM traded down $3.61 on Tuesday, reaching $125.68. 794,585 shares of the stock traded hands, compared to its average volume of 542,929. The firm has a market cap of $6.27 billion, a price-to-earnings ratio of -24.79 and a beta of 0.54. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.57 and a quick ratio of 1.51. Axsome Therapeutics, Inc. has a 12 month low of $75.56 and a 12 month high of $139.13. The stock's 50-day moving average price is $111.18 and its 200-day moving average price is $110.83.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported ($0.92) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.00) by $0.08. Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%.The business had revenue of $150.04 million for the quarter, compared to analysts' expectations of $140.02 million. Equities analysts forecast 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.