10,400 Shares in Axsome Therapeutics, Inc. $AXSM Acquired by Strs Ohio

Key Points

• Strs Ohio acquired a new stake in Axsome Therapeutics, purchasing 10,400 shares valued at approximately $1.21 million.
• Numerous institutional investors increased their positions, with Assenagon Asset Management boosting their stake by 16,852.7% and several others investing over $30 million each.
• Analysts are optimistic about Axsome Therapeutics, with a consensus rating of "Buy" and a price target hovering around $177.86.

Strs Ohio bought a new stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,400 shares of the company's stock, valued at approximately $1,213,000.

Several other hedge funds also recently added to or reduced their stakes in the business. BVF Inc. IL increased its position in Axsome Therapeutics by 21.8% during the 1st quarter. BVF Inc. IL now owns 1,690,221 shares of the company's stock valued at $197,130,000 after buying an additional 302,157 shares in the last quarter. Invesco Ltd. grew its stake in Axsome Therapeutics by 23.8% during the 1st quarter. Invesco Ltd. now owns 857,001 shares of the company's stock valued at $99,952,000 after purchasing an additional 164,537 shares during the last quarter. Wellington Management Group LLP grew its stake in Axsome Therapeutics by 4.5% during the 1st quarter. Wellington Management Group LLP now owns 703,279 shares of the company's stock valued at $82,023,000 after purchasing an additional 30,122 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Axsome Therapeutics by 16,852.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 627,418 shares of the company's stock valued at $73,176,000 after purchasing an additional 623,717 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Axsome Therapeutics during the 1st quarter valued at about $48,185,000. 81.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AXSM shares. Royal Bank Of Canada boosted their price target on Axsome Therapeutics from $184.00 to $189.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. HC Wainwright reiterated a "buy" rating and set a $180.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, June 10th. Wells Fargo & Company upgraded Axsome Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 3rd. Needham & Company LLC reiterated a "buy" rating and set a $150.00 price target on shares of Axsome Therapeutics in a research note on Monday, August 4th. Finally, Morgan Stanley started coverage on Axsome Therapeutics in a research note on Thursday, July 3rd. They set an "overweight" rating and a $190.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $177.86.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, Director Roger Jeffs sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $121.60, for a total transaction of $2,432,000.00. Following the completion of the transaction, the director owned 90,974 shares of the company's stock, valued at $11,062,438.40. This represents a 18.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mark L. Jacobson sold 45,783 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $114.48, for a total value of $5,241,237.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 193,962 shares of company stock valued at $22,849,208. 22.30% of the stock is owned by insiders.

Axsome Therapeutics Stock Performance

Shares of AXSM traded down $2.68 during mid-day trading on Friday, reaching $115.95. The company had a trading volume of 616,545 shares, compared to its average volume of 564,750. Axsome Therapeutics, Inc. has a 52-week low of $75.56 and a 52-week high of $139.13. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $5.79 billion, a P/E ratio of -22.87 and a beta of 0.54. The stock has a 50 day moving average of $112.88 and a two-hundred day moving average of $110.24.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported ($0.92) EPS for the quarter, topping analysts' consensus estimates of ($1.00) by $0.08. The firm had revenue of $150.04 million for the quarter, compared to the consensus estimate of $140.02 million. Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%. On average, analysts expect that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Axsome Therapeutics 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.