Raymond James Financial Inc. acquired a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 174,586 shares of the company's stock, valued at approximately $14,771,000. Raymond James Financial Inc. owned about 0.36% of Axsome Therapeutics at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of AXSM. Assetmark Inc. bought a new stake in Axsome Therapeutics during the 4th quarter worth approximately $52,000. R Squared Ltd bought a new stake in shares of Axsome Therapeutics during the fourth quarter worth $64,000. KBC Group NV grew its holdings in shares of Axsome Therapeutics by 40.5% during the fourth quarter. KBC Group NV now owns 1,336 shares of the company's stock worth $113,000 after purchasing an additional 385 shares during the last quarter. Xponance Inc. increased its stake in shares of Axsome Therapeutics by 11.6% in the fourth quarter. Xponance Inc. now owns 2,659 shares of the company's stock valued at $225,000 after buying an additional 277 shares in the last quarter. Finally, Intrust Bank NA raised its holdings 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 during the last quarter. Institutional investors and hedge funds own 81.49% of the company's stock.
Insiders Place Their Bets
In other news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics 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 completion of the sale, the chief financial officer now owns 42,187 shares of the company's stock, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 22.40% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have weighed in on the stock. Bank of America raised their price objective on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Wells Fargo & Company boosted their price objective on shares of Axsome Therapeutics from $140.00 to $160.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Morgan Stanley lifted their target price on Axsome Therapeutics from $125.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. Robert W. Baird upped their price target on Axsome Therapeutics from $132.00 to $160.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. Finally, Jefferies Financial Group assumed coverage on Axsome Therapeutics in a research report on Monday, April 7th. They issued a "buy" rating and a $200.00 price objective for the company. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $169.80.
Get Our Latest Stock Report on AXSM
Axsome Therapeutics Stock Performance
AXSM traded up $0.86 during trading hours on Friday, reaching $106.27. The company's stock had a trading volume of 438,984 shares, compared to its average volume of 681,850. The company's 50-day moving average is $115.54 and its 200-day moving average is $102.96. Axsome Therapeutics, Inc. has a 52 week low of $64.11 and a 52 week high of $139.13. The firm has a market cap of $5.18 billion, a PE ratio of -17.74 and a beta of 0.88. 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 issued its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, beating the consensus estimate of ($0.97) by $0.01. The company had revenue of $118.77 million for 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%. On average, equities analysts forecast that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.
About Axsome Therapeutics
(
Free Report)
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.
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