Janney Montgomery Scott LLC Has $1.36 Million Stock Position in Axsome Therapeutics, Inc. $AXSM

Janney Montgomery Scott LLC lessened its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 12.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,023 shares of the company’s stock after selling 1,900 shares during the period. Janney Montgomery Scott LLC’s holdings in Axsome Therapeutics were worth $1,359,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Pallas Capital Advisors LLC raised its stake in Axsome Therapeutics by 7.1% during the second quarter. Pallas Capital Advisors LLC now owns 37,772 shares of the company’s stock worth $3,943,000 after buying an additional 2,492 shares during the last quarter. Rhumbline Advisers raised its stake in Axsome Therapeutics by 6.9% during the first quarter. Rhumbline Advisers now owns 54,760 shares of the company’s stock worth $6,387,000 after buying an additional 3,515 shares during the last quarter. Strs Ohio bought a new position in Axsome Therapeutics during the first quarter worth $1,213,000. McAdam LLC bought a new position in Axsome Therapeutics during the first quarter worth $256,000. Finally, Intech Investment Management LLC raised its stake in Axsome Therapeutics by 26.6% during the first quarter. Intech Investment Management LLC now owns 20,298 shares of the company’s stock worth $2,367,000 after buying an additional 4,270 shares during the last quarter. Institutional investors own 81.49% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Wednesday, October 8th. B. Riley began coverage on shares of Axsome Therapeutics in a research note on Wednesday, October 1st. They issued a “buy” rating and a $179.00 price target for the company. Bank of America lifted their price target on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Wells Fargo & Company raised shares of Axsome Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 price target on shares of Axsome Therapeutics in a research note on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $177.93.

Axsome Therapeutics Stock Down 0.7%

AXSM opened at $121.71 on Monday. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 1.66. The stock has a market cap of $6.07 billion, a price-to-earnings ratio of -24.01 and a beta of 0.52. Axsome Therapeutics, Inc. has a twelve month low of $75.56 and a twelve month high of $139.13. The company’s 50-day moving average price is $116.84 and its two-hundred day moving average price is $109.84.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, August 4th. The company reported ($0.92) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.08. The firm had revenue of $150.04 million for the quarter, compared to analysts’ expectations of $140.02 million. Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. As a group, equities analysts expect that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 27,907 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $118.96, for a total value of $3,319,816.72. Following the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at $859,961.84. The trade was a 79.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Mark L. Jacobson sold 45,783 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $114.48, for a total transaction of $5,241,237.84. The disclosure for this sale can be found here. Insiders have sold a total of 243,332 shares of company stock worth $28,824,746 over the last three months. 22.30% of the stock is currently owned by insiders.

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.