Candriam S.C.A. Trims Holdings in Axsome Therapeutics, Inc. $AXSM

Candriam S.C.A. trimmed its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 4.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 76,727 shares of the company’s stock after selling 3,203 shares during the quarter. Candriam S.C.A. owned 0.15% of Axsome Therapeutics worth $8,010,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Nuveen LLC bought a new stake in shares of Axsome Therapeutics during the 1st quarter worth $48,185,000. 1832 Asset Management L.P. bought a new position in Axsome Therapeutics in the first quarter valued at $42,360,000. BVF Inc. IL raised its position in Axsome Therapeutics by 21.8% during the first quarter. BVF Inc. IL now owns 1,690,221 shares of the company’s stock valued at $197,130,000 after purchasing an additional 302,157 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in Axsome Therapeutics during the first quarter worth about $31,140,000. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. lifted its stake in Axsome Therapeutics by 746.7% during the first quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 285,494 shares of the company’s stock worth $33,297,000 after purchasing an additional 251,775 shares during the last quarter. Institutional investors own 81.49% of the company’s stock.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 21,775 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $134.49, for a total value of $2,928,519.75. Following the completion of the sale, the chief executive officer owned 7,229 shares in the company, valued at approximately $972,228.21. This trade represents a 75.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Mark L. Jacobson sold 10,000 shares of Axsome Therapeutics stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $115.96, for a total value of $1,159,600.00. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 407,271 shares of company stock valued at $50,640,415. 22.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. B. Riley initiated coverage on Axsome Therapeutics in a research report on Wednesday, October 1st. They set a “buy” rating and a $179.00 price objective on the stock. Wells Fargo & Company reduced their price target on shares of Axsome Therapeutics from $163.00 to $157.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 4th. Needham & Company LLC reissued a “buy” rating and set a $154.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, November 4th. Morgan Stanley boosted their price objective on shares of Axsome Therapeutics from $194.00 to $196.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Finally, HC Wainwright upped their price objective on shares of Axsome Therapeutics from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $179.88.

Axsome Therapeutics Stock Up 1.7%

Shares of NASDAQ AXSM opened at $139.69 on Friday. The firm’s fifty day moving average is $126.29 and its 200 day moving average is $114.78. Axsome Therapeutics, Inc. has a 52 week low of $75.56 and a 52 week high of $144.15. 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 company has a market cap of $7.04 billion, a price-to-earnings ratio of -27.55 and a beta of 0.50.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.12). Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%.The firm had revenue of $170.99 million during the quarter, compared to the consensus estimate of $162.96 million. Axsome Therapeutics’s revenue was up 63.2% on a year-over-year basis. On average, equities research analysts expect that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Axsome Therapeutics 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.