Strs Ohio Acquires Shares of 10,400 Axsome Therapeutics, Inc. $AXSM

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) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,400 shares of the company's stock, valued at approximately $1,213,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. McAdam LLC bought a new position in Axsome Therapeutics in the 1st quarter worth about $256,000. Intech Investment Management LLC boosted its stake in Axsome Therapeutics by 26.6% in the 1st quarter. Intech Investment Management LLC now owns 20,298 shares of the company's stock worth $2,367,000 after purchasing an additional 4,270 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Axsome Therapeutics by 29.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,892 shares of the company's stock worth $8,735,000 after purchasing an additional 17,250 shares in the last quarter. Axiom Investors LLC DE bought a new position in Axsome Therapeutics in the 1st quarter worth about $3,068,000. Finally, Caxton Associates LLP bought a new position in Axsome Therapeutics in the 1st quarter worth about $307,000. Institutional investors own 81.49% of the company's stock.

Axsome Therapeutics Price Performance

Shares of Axsome Therapeutics stock traded down $2.68 during trading hours on Friday, reaching $115.95. The company's stock had a trading volume of 616,545 shares, compared to its average volume of 570,324. The firm has a 50 day moving average price of $112.88 and a 200-day moving average price of $110.44. Axsome Therapeutics, Inc. has a one year low of $75.56 and a one year high of $139.13. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.57 and a quick ratio of 1.51. The stock has a market cap of $5.79 billion, a P/E ratio of -22.87 and a beta of 0.54.

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

Wall Street Analysts Forecast Growth

AXSM has been the topic of a number of analyst reports. Wells Fargo & Company upgraded shares of Axsome Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 3rd. Bank of America upped their price target on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Morgan Stanley began coverage on shares of Axsome Therapeutics in a research note on Thursday, July 3rd. They set an "overweight" rating and a $190.00 target price on the stock. Needham & Company LLC restated a "buy" rating and set a $150.00 target price on shares of Axsome Therapeutics in a research note on Monday, August 4th. Finally, Oppenheimer began coverage on shares of Axsome Therapeutics in a research report on Tuesday, June 3rd. They issued an "outperform" rating and a $185.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $177.86.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 27,907 shares of Axsome Therapeutics stock in a transaction on Friday, September 12th. The shares were sold at an average price of $118.96, for a total transaction of $3,319,816.72. Following the completion of the transaction, the chief executive officer directly owned 7,229 shares of the company's stock, valued at $859,961.84. The trade was a 79.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark E. Saad sold 9,127 shares of Axsome Therapeutics stock in a transaction on Friday, September 5th. The stock was sold at an average price of $125.07, for a total transaction of $1,141,513.89. Following the transaction, the director directly owned 10,002 shares of the company's stock, valued at $1,250,950.14. The trade was a 47.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 193,962 shares of company stock valued at $22,849,208 over the last three months. Corporate insiders own 22.30% of the company's stock.

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.