RTW Investments LP Cuts Stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

RTW Investments LP lessened its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,051,365 shares of the company's stock after selling 138,192 shares during the period. Axsome Therapeutics accounts for 5.2% of RTW Investments LP's investment portfolio, making the stock its 4th biggest position. RTW Investments LP owned approximately 8.36% of Axsome Therapeutics worth $342,786,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Boxer Capital Management LLC bought a new stake in shares of Axsome Therapeutics during the 4th quarter valued at about $39,767,000. Lazard Asset Management LLC boosted its stake in shares of Axsome Therapeutics by 525.7% during the 4th quarter. Lazard Asset Management LLC now owns 537,669 shares of the company's stock valued at $45,492,000 after purchasing an additional 451,737 shares in the last quarter. Norges Bank bought a new stake in shares of Axsome Therapeutics during the 4th quarter valued at about $34,100,000. BVF Inc. IL boosted its stake in shares of Axsome Therapeutics by 32.7% during the 4th quarter. BVF Inc. IL now owns 1,388,064 shares of the company's stock valued at $117,444,000 after purchasing an additional 342,064 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Axsome Therapeutics by 6,002.7% during the 4th quarter. Principal Financial Group Inc. now owns 207,065 shares of the company's stock valued at $17,520,000 after purchasing an additional 203,672 shares in the last quarter. Institutional investors own 81.49% of the company's stock.

Axsome Therapeutics Price Performance

Shares of AXSM opened at $107.22 on Friday. The company has a market capitalization of $5.28 billion, a P/E ratio of -17.90 and a beta of 0.46. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. The firm has a 50 day moving average of $110.73 and a 200 day moving average of $104.96. Axsome Therapeutics, Inc. has a twelve month low of $64.11 and a twelve month high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate 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 anticipate that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

AXSM has been the topic of a number of research reports. Bank of America lifted their target price on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Mizuho lifted their target price on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the company an "outperform" rating in a research note on Thursday, March 27th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $165.00 target price (up previously from $160.00) on shares of Axsome Therapeutics in a research note on Tuesday, May 6th. Jefferies Financial Group initiated coverage on shares of Axsome Therapeutics in a research note on Monday, April 7th. They set a "buy" rating and a $200.00 price objective on the stock. Finally, Robert W. Baird boosted their price objective on shares of Axsome Therapeutics from $160.00 to $162.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target 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.

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