Royce & Associates LP Increases Position in Axsome Therapeutics, Inc. $AXSM

Royce & Associates LP increased its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 117.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,036 shares of the company’s stock after purchasing an additional 30,279 shares during the quarter. Royce & Associates LP’s holdings in Axsome Therapeutics were worth $6,806,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Axsome Therapeutics by 6.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company’s stock worth $507,739,000 after acquiring an additional 235,626 shares in the last quarter. Stanley Laman Group Ltd. purchased a new position in Axsome Therapeutics during the third quarter valued at $2,125,000. Aberdeen Group plc grew its position in shares of Axsome Therapeutics by 15.5% in the third quarter. Aberdeen Group plc now owns 94,648 shares of the company’s stock valued at $11,495,000 after purchasing an additional 12,732 shares during the period. Swiss National Bank increased its stake in shares of Axsome Therapeutics by 6.9% during the second quarter. Swiss National Bank now owns 65,200 shares of the company’s stock worth $6,806,000 after purchasing an additional 4,200 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Axsome Therapeutics by 55.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 203,632 shares of the company’s stock worth $21,257,000 after purchasing an additional 72,609 shares during the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 12,000 shares of the business’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $187.92, for a total transaction of $2,255,040.00. Following the transaction, the chief financial officer owned 42,588 shares of the company’s stock, valued at approximately $8,003,136.96. The trade was a 21.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark Coleman sold 25,000 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $161.11, for a total transaction 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 $7,594,725.40. This represents a 34.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 289,279 shares of company stock worth $49,496,963. Corporate insiders own 22.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AXSM shares. HC Wainwright raised their price target on shares of Axsome Therapeutics from $200.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Leerink Partners raised their target price on Axsome Therapeutics from $150.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, January 28th. Guggenheim lifted their price target on Axsome Therapeutics from $205.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Oppenheimer reiterated an “outperform” rating and set a $220.00 price target on shares of Axsome Therapeutics in a research report on Wednesday, December 31st. Finally, Wolfe Research initiated coverage on Axsome Therapeutics in a report on Monday, February 23rd. They issued an “outperform” rating and a $230.00 price objective on the stock. Seventeen research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $216.12.

Axsome Therapeutics Trading Up 0.0%

Shares of Axsome Therapeutics stock opened at $164.08 on Thursday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.55 and a quick ratio of 1.48. The stock’s 50 day simple moving average is $176.42 and its 200-day simple moving average is $147.52. The stock has a market cap of $8.39 billion, a P/E ratio of -44.47 and a beta of 0.43. Axsome Therapeutics, Inc. has a 1-year low of $86.99 and a 1-year high of $191.50.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, February 23rd. The company reported ($0.56) EPS for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.14. The firm had revenue of $196.00 million for the quarter, compared to the consensus estimate of $191.33 million. Axsome Therapeutics had a negative return on equity of 232.61% and a negative net margin of 28.69%.The business’s revenue was up 65.0% on a year-over-year basis. Analysts predict that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Axsome Therapeutics Profile

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.