LPL Financial LLC Buys 7,837 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

LPL Financial LLC lifted its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 47.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,209 shares of the company's stock after purchasing an additional 7,837 shares during the quarter. LPL Financial LLC's holdings in Axsome Therapeutics were worth $2,048,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Assetmark Inc. purchased a new position in Axsome Therapeutics during the 4th quarter valued at about $52,000. R Squared Ltd purchased a new position in Axsome Therapeutics during the fourth quarter valued at approximately $64,000. KBC Group NV grew its stake in Axsome Therapeutics by 40.5% during the fourth quarter. KBC Group NV now owns 1,336 shares of the company's stock valued at $113,000 after acquiring an additional 385 shares in the last quarter. Xponance Inc. increased its holdings in Axsome Therapeutics by 11.6% during the 4th quarter. Xponance Inc. now owns 2,659 shares of the company's stock worth $225,000 after acquiring an additional 277 shares during the period. Finally, Corient Private Wealth LLC purchased a new stake in Axsome Therapeutics in the 4th quarter worth approximately $239,000. Hedge funds and other institutional investors own 81.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Leerink Partners boosted their price target on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the company an "outperform" rating in a research report on Monday, February 10th. Robert W. Baird boosted their target price on Axsome Therapeutics from $132.00 to $160.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $153.00 price target on shares of Axsome Therapeutics in a report on Wednesday, February 19th. HC Wainwright reiterated a "buy" rating and set a $200.00 price target on shares of Axsome Therapeutics in a research report on Thursday, April 3rd. Finally, William Blair restated an "outperform" rating on shares of Axsome Therapeutics in a research report on Tuesday, February 18th. One equities 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.com, Axsome Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $169.80.

Insider Activity

In related news, CFO Nick Pizzie sold 3,000 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the transaction, the chief financial officer now owns 42,187 shares in the company, valued at $5,529,450.09. The trade was a 6.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 22.40% of the company's stock.

Axsome Therapeutics Trading Down 0.0 %

AXSM stock traded down $0.01 during midday trading on Friday, hitting $104.46. The company had a trading volume of 486,786 shares, compared to its average volume of 680,288. The stock has a market cap of $5.09 billion, a price-to-earnings ratio of -17.44 and a beta of 0.88. Axsome Therapeutics, Inc. has a 52 week low of $64.11 and a 52 week high of $139.13. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. The stock's 50 day moving average price is $118.16 and its 200 day moving average price is $102.46.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, beating analysts' consensus estimates of ($0.97) by $0.01. The company had revenue of $118.77 million during the quarter, compared to analyst estimates of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. As a group, equities research analysts expect that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Axsome Therapeutics Company 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.