First Trust Advisors LP Increases Position in Axsome Therapeutics, Inc. $AXSM

First Trust Advisors LP raised its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 1,230.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 577,479 shares of the company’s stock after purchasing an additional 534,066 shares during the quarter. First Trust Advisors LP owned 1.12% of Axsome Therapeutics worth $97,606,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Franklin Street Advisors Inc. NC bought a new stake in Axsome Therapeutics during the fourth quarter valued at $1,826,000. Pictet Asset Management Holding SA lifted its position in shares of Axsome Therapeutics by 20.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 436,063 shares of the company’s stock worth $79,643,000 after buying an additional 73,925 shares during the last quarter. Norges Bank acquired a new position in shares of Axsome Therapeutics in the 4th quarter valued at about $90,490,000. Axiom Investors LLC DE boosted its holdings in shares of Axsome Therapeutics by 28.7% in the 4th quarter. Axiom Investors LLC DE now owns 63,390 shares of the company’s stock valued at $11,578,000 after buying an additional 14,137 shares during the period. Finally, M&T Bank Corp grew its position in shares of Axsome Therapeutics by 2,553.8% during the 4th quarter. M&T Bank Corp now owns 49,466 shares of the company’s stock valued at $8,277,000 after buying an additional 47,602 shares during the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Axsome Therapeutics

In other news, Director Roger Jeffs sold 286 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $246.18, for a total value of $70,407.48. Following the completion of the sale, the director owned 58,653 shares in the company, valued at $14,439,195.54. This represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Susan Mahony sold 300 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $237.21, for a total value of $71,163.00. Following the transaction, the director directly owned 1,129 shares of the company’s stock, valued at $267,810.09. This represents a 20.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 155,852 shares of company stock valued at $37,230,112 over the last three months. 20.60% of the stock is owned by company insiders.

Axsome Therapeutics Stock Down 0.2%

AXSM opened at $241.00 on Friday. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32. Axsome Therapeutics, Inc. has a 12 month low of $96.09 and a 12 month high of $260.19. The stock’s 50 day moving average price is $239.25 and its 200 day moving average price is $200.60. The stock has a market cap of $12.40 billion, a P/E ratio of -64.61 and a beta of 0.60.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly 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 company had revenue of $191.20 million for 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%.The business’s revenue for the quarter was up 57.4% on a year-over-year basis. As a group, research analysts predict that Axsome Therapeutics, Inc. will post -2.45 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AXSM shares. Mizuho increased their price objective on shares of Axsome Therapeutics from $228.00 to $310.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Robert W. Baird upped their target price on Axsome Therapeutics from $241.00 to $246.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Jefferies Financial Group reiterated a “buy” rating and set a $380.00 price target on shares of Axsome Therapeutics in a research report on Thursday, June 11th. Oppenheimer set a $280.00 price target on Axsome Therapeutics in a report on Monday, May 4th. Finally, HC Wainwright restated a “buy” rating and set a $290.00 price objective on shares of Axsome Therapeutics in a research report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $261.48.

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.