Northern Trust Corp Boosts Stock Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Northern Trust Corp boosted its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 21.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 402,500 shares of the company's stock after buying an additional 69,918 shares during the quarter. Northern Trust Corp owned approximately 0.83% of Axsome Therapeutics worth $34,056,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in AXSM. Pitcairn Co. boosted its stake in Axsome Therapeutics by 3.4% in the fourth quarter. Pitcairn Co. now owns 4,562 shares of the company's stock valued at $386,000 after acquiring an additional 148 shares in the last quarter. Meridian Wealth Management LLC increased its stake in Axsome Therapeutics by 0.7% in the 4th quarter. Meridian Wealth Management LLC now owns 21,171 shares of the company's stock valued at $1,791,000 after purchasing an additional 150 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in Axsome Therapeutics by 4.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,852 shares of the company's stock worth $326,000 after purchasing an additional 162 shares during the last quarter. Arizona State Retirement System boosted its position in Axsome Therapeutics by 1.8% during the fourth quarter. Arizona State Retirement System now owns 9,054 shares of the company's stock worth $766,000 after purchasing an additional 164 shares in the last quarter. Finally, Intrust Bank NA increased its position in shares of Axsome Therapeutics by 6.9% in the fourth quarter. Intrust Bank NA now owns 2,823 shares of the company's stock valued at $239,000 after buying an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company's stock.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the firm's stock in a transaction on 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. This trade represents a 6.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 22.30% of the stock is owned by company insiders.

Axsome Therapeutics Price Performance

AXSM stock traded down $2.00 during trading on Wednesday, hitting $103.67. 874,141 shares of the stock traded hands, compared to its average volume of 685,528. Axsome Therapeutics, Inc. has a one year low of $64.11 and a one year high of $139.13. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of -17.31 and a beta of 0.46. 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 company has a 50 day simple moving average of $110.96 and a 200 day simple moving average of $104.84.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company reiterated an "overweight" rating and set a $165.00 price target (up from $160.00) on shares of Axsome Therapeutics in a report on Tuesday, May 6th. Truist Financial increased their target price on Axsome Therapeutics from $190.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Needham & Company LLC restated a "buy" rating and issued a $153.00 price target on shares of Axsome Therapeutics in a report on Tuesday, April 1st. Royal Bank of Canada raised their target price on shares of Axsome Therapeutics from $190.00 to $193.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Finally, HC Wainwright dropped their price target on shares of Axsome Therapeutics from $200.00 to $180.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $172.14.

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.