Synovus Financial Corp Has $2.51 Million Holdings in Axsome Therapeutics, Inc. $AXSM

Key Points

• Synovus Financial Corp increased its stake in Axsome Therapeutics by 33.6%, acquiring an additional 5,425 shares, bringing its total holdings to 21,553 shares, valued at approximately $2.5 million.
• A number of brokerages have issued positive ratings for Axsome Therapeutics, with target prices ranging from $150.00 to $190.00, and the stock holds a consensus rating of "Buy".
• Axsome Therapeutics reported earnings of ($0.92) per share, beating analysts' expectations, with revenue of $150.04 million for the quarter, exceeding estimates by $10 million.

Synovus Financial Corp increased its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 33.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,553 shares of the company's stock after acquiring an additional 5,425 shares during the period. Synovus Financial Corp's holdings in Axsome Therapeutics were worth $2,514,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of AXSM. Caitong International Asset Management Co. Ltd bought a new stake in Axsome Therapeutics during the 1st quarter worth approximately $25,000. NBC Securities Inc. bought a new stake in Axsome Therapeutics during the 1st quarter worth approximately $31,000. Quantbot Technologies LP bought a new stake in Axsome Therapeutics during the 1st quarter worth approximately $31,000. AlphaQuest LLC bought a new stake in Axsome Therapeutics during the 1st quarter worth approximately $38,000. Finally, Neo Ivy Capital Management bought a new stake in Axsome Therapeutics during the 1st quarter worth approximately $41,000. 81.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on AXSM shares. Needham & Company LLC reaffirmed a "buy" rating and set a $150.00 price objective on shares of Axsome Therapeutics in a report on Monday, August 4th. Morgan Stanley started coverage on Axsome Therapeutics in a report on Thursday, July 3rd. They set an "overweight" rating and a $190.00 price objective on the stock. Bank of America upped their price objective on Axsome Therapeutics from $173.00 to $176.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Robert W. Baird upped their price objective on Axsome Therapeutics from $160.00 to $162.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Finally, Cantor Fitzgerald raised Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $178.00.

Insider Buying and Selling

In related news, General Counsel Hunter R. Murdock sold 6,014 shares of the firm's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $100.12, for a total transaction of $602,121.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Roger Jeffs sold 20,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $120.03, for a total value of $2,400,600.00. Following the sale, the director directly owned 130,974 shares in the company, valued at $15,720,809.22. The trade was a 13.25% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 82,708 shares of company stock valued at $9,288,812. 22.30% of the stock is owned by company insiders.

Axsome Therapeutics Trading Down 0.1%

Shares of AXSM stock traded down $0.11 during trading hours on Thursday, reaching $121.75. The company had a trading volume of 369,674 shares, compared to its average volume of 607,247. The company has a 50 day moving average of $107.80 and a 200 day moving average of $111.35. 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 firm has a market cap of $6.08 billion, a price-to-earnings ratio of -24.01 and a beta of 0.51. Axsome Therapeutics, Inc. has a 1-year low of $75.56 and a 1-year high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported ($0.92) earnings per share for the quarter, beating analysts' consensus estimates of ($1.00) by $0.08. The company 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, equities research analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

About Axsome Therapeutics

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.