First Trust Advisors LP Boosts Stock Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

First Trust Advisors LP grew its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 26.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,580 shares of the company's stock after purchasing an additional 11,488 shares during the quarter. First Trust Advisors LP owned approximately 0.11% of Axsome Therapeutics worth $4,618,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Norges Bank bought a new position in shares of Axsome Therapeutics during the 4th quarter valued at approximately $34,100,000. Principal Financial Group Inc. boosted its position in shares of Axsome Therapeutics by 6,002.7% in the fourth quarter. Principal Financial Group Inc. now owns 207,065 shares of the company's stock worth $17,520,000 after purchasing an additional 203,672 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Axsome Therapeutics in the fourth quarter worth $14,771,000. Marshall Wace LLP bought a new stake in shares of Axsome Therapeutics during the 4th quarter valued at $10,754,000. Finally, Granite Investment Partners LLC purchased a new position in shares of Axsome Therapeutics during the 4th quarter valued at $7,754,000. Institutional investors own 81.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Mizuho upped their price objective on Axsome Therapeutics from $212.00 to $216.00 and gave the stock an "outperform" rating in a research note on Thursday, March 27th. Needham & Company LLC reaffirmed a "buy" rating and set a $153.00 price objective on shares of Axsome Therapeutics in a report on Tuesday, April 1st. Morgan Stanley boosted their target price on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. Jefferies Financial Group started coverage on shares of Axsome Therapeutics in a report on Monday, April 7th. They issued a "buy" rating and a $200.00 price target on the stock. Finally, Truist Financial increased their price objective on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $169.87.

Insider Activity

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the transaction, the chief financial officer now directly owns 42,187 shares in the company, valued at $5,529,450.09. This represents a 6.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 22.40% of the company's stock.

Axsome Therapeutics Trading Up 3.8 %

NASDAQ AXSM traded up $4.28 during trading on Monday, hitting $116.49. The stock had a trading volume of 944,775 shares, compared to its average volume of 686,633. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of -19.45 and a beta of 0.46. The stock has a 50 day simple moving average of $113.58 and a 200 day simple moving average of $104.02. Axsome Therapeutics, Inc. has a one year low of $64.11 and a one year high of $139.13. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.80) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.23) by $0.43. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. Sell-side analysts predict that Axsome Therapeutics, Inc. will post -2.79 earnings per share 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.