Csenge Advisory Group Takes Position in Axsome Therapeutics, Inc. $AXSM

Csenge Advisory Group bought a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,996 shares of the company’s stock, valued at approximately $730,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP lifted its stake in shares of Axsome Therapeutics by 6.6% in the 3rd quarter. Allworth Financial LP now owns 1,442 shares of the company’s stock valued at $175,000 after purchasing an additional 89 shares during the period. Meridian Wealth Management LLC lifted its stake in shares of Axsome Therapeutics by 0.5% in the 3rd quarter. Meridian Wealth Management LLC now owns 22,124 shares of the company’s stock valued at $2,687,000 after purchasing an additional 103 shares during the period. GAMMA Investing LLC lifted its stake in shares of Axsome Therapeutics by 65.4% in the 4th quarter. GAMMA Investing LLC now owns 268 shares of the company’s stock valued at $49,000 after purchasing an additional 106 shares during the period. PNC Financial Services Group Inc. increased its position in Axsome Therapeutics by 6.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,856 shares of the company’s stock valued at $225,000 after buying an additional 107 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in Axsome Therapeutics by 0.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 18,158 shares of the company’s stock valued at $2,205,000 after buying an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Stock Up 1.7%

Axsome Therapeutics stock opened at $230.62 on Thursday. The firm has a market cap of $11.87 billion, a price-to-earnings ratio of -61.83 and a beta of 0.59. The stock has a fifty day simple moving average of $184.96 and a two-hundred day simple moving average of $170.69. Axsome Therapeutics, Inc. has a 12 month low of $96.09 and a 12 month high of $235.91. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 2.27.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Monday, May 4th. The company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). The business had revenue of $191.20 million during the quarter, compared to the consensus estimate of $191.10 million. Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.Axsome Therapeutics’s revenue for the quarter was up 57.4% on a year-over-year basis. Equities analysts predict that Axsome Therapeutics, Inc. will post -2.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 233 shares of Axsome Therapeutics stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $228.18, for a total value of $53,165.94. Following the completion of the sale, the chief operating officer owned 4,517 shares of the company’s stock, valued at approximately $1,030,689.06. This trade represents a 4.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark Coleman sold 25,000 shares of Axsome Therapeutics stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $161.11, for a total value of $4,027,750.00. Following the completion of the sale, the director directly owned 47,140 shares of the company’s stock, valued at approximately $7,594,725.40. The trade was a 34.65% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 72,628 shares of company stock valued at $12,205,662. Corporate insiders own 20.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AXSM shares. TD Cowen reaffirmed a “buy” rating on shares of Axsome Therapeutics in a research report on Friday, May 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Monday, April 20th. Deutsche Bank Aktiengesellschaft set a $280.00 price objective on Axsome Therapeutics in a research report on Tuesday, May 5th. Guggenheim raised their price objective on Axsome Therapeutics from $245.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Finally, Wells Fargo & Company raised their price objective on Axsome Therapeutics from $225.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $251.26.

About Axsome Therapeutics

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.