TD Asset Management Inc Takes Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Key Points

• TD Asset Management Inc. has acquired a new stake in Axsome Therapeutics, Inc. during the first quarter, purchasing 8,984 shares valued at approximately $1,048,000.
• Insider activity reported includes significant stock sales by key executives, with General Counsel Hunter R. Murdock selling 7,500 shares and COO Mark L. Jacobson selling 25,000 shares, totaling over $3.5 million.
• Analyst ratings for Axsome Therapeutics are generally positive, with a consensus rating of "Buy" and a target price of $172.33, reflecting confidence in the stock's potential despite recent price fluctuations.

TD Asset Management Inc 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 Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,984 shares of the company's stock, valued at approximately $1,048,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. NBC Securities Inc. acquired a new stake in Axsome Therapeutics in the 1st quarter valued at about $31,000. Neo Ivy Capital Management purchased a new stake in shares of Axsome Therapeutics in the first quarter valued at approximately $41,000. Raiffeisen Bank International AG acquired a new stake in shares of Axsome Therapeutics in the fourth quarter valued at approximately $51,000. Aquatic Capital Management LLC purchased a new position in Axsome Therapeutics during the fourth quarter worth approximately $76,000. Finally, GF Fund Management CO. LTD. purchased a new position in Axsome Therapeutics during the fourth quarter worth approximately $86,000. Hedge funds and other institutional investors own 81.49% of the company's stock.

Insiders Place Their Bets

In other Axsome Therapeutics news, General Counsel Hunter R. Murdock sold 6,014 shares of the business'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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Mark L. Jacobson sold 25,000 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $110.44, for a total value of $2,761,000.00. Following the completion of the sale, the chief operating officer owned 5,783 shares in the company, valued at approximately $638,674.52. The trade was a 81.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,437 shares of company stock worth $9,834,215 in the last ninety days. 22.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AXSM has been the subject of several analyst reports. Bank of America upped their target price on Axsome Therapeutics from $173.00 to $176.00 and gave the company a "buy" rating in a report on Tuesday. Wells Fargo & Company restated an "overweight" rating and set a $165.00 price objective (up from $160.00) on shares of Axsome Therapeutics in a research report on Tuesday, May 6th. Morgan Stanley assumed 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. Oppenheimer assumed coverage on shares of Axsome Therapeutics in a research note on Tuesday, June 3rd. They issued an "outperform" rating and a $185.00 price target for the company. Finally, Cantor Fitzgerald upgraded shares of Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, May 14th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Axsome Therapeutics presently has an average rating of "Buy" and a consensus target price of $178.00.

Axsome Therapeutics Trading Down 0.6%

Shares of AXSM stock traded down $0.61 on Friday, hitting $103.71. The stock had a trading volume of 104,535 shares, compared to its average volume of 787,011. The company's 50 day moving average price is $105.86 and its 200-day moving average price is $110.73. Axsome Therapeutics, Inc. has a 1 year low of $75.56 and a 1 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 1.96. The firm has a market capitalization of $5.18 billion, a P/E ratio of -20.43 and a beta of 0.51.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its earnings results on Monday, August 4th. The company reported ($0.92) earnings per share for the quarter, beating the consensus estimate of ($1.00) by $0.08. The company had revenue of $150.04 million during 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%. Analysts anticipate 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.