Handelsbanken Fonder AB Purchases 29,000 Shares of Axsome Therapeutics, Inc. $AXSM

Handelsbanken Fonder AB boosted its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 216.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,400 shares of the company’s stock after buying an additional 29,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in Axsome Therapeutics were worth $10,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in AXSM. Kemnay Advisory Services Inc. purchased a new position in shares of Axsome Therapeutics during the 4th quarter valued at $31,000. Hollencrest Capital Management increased its holdings in Axsome Therapeutics by 400.0% in the 1st quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock worth $34,000 after acquiring an additional 160 shares during the last quarter. Ameriflex Group Inc. bought a new stake in Axsome Therapeutics in the 4th quarter valued at about $37,000. Advisory Services Network LLC purchased a new stake in Axsome Therapeutics during the third quarter valued at about $40,000. Finally, Farther Finance Advisors LLC lifted its holdings in Axsome Therapeutics by 602.6% during the fourth quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock valued at $50,000 after purchasing an additional 235 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AXSM has been the subject of several recent research reports. Guggenheim lifted their target price on shares of Axsome Therapeutics from $260.00 to $275.00 and gave the stock a “buy” rating in a research note on Tuesday. Needham & Company LLC upped their price target on shares of Axsome Therapeutics from $267.00 to $268.00 and gave the company a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft set a $280.00 price objective on shares of Axsome Therapeutics in a report on Tuesday, May 5th. Zacks Research cut shares of Axsome Therapeutics from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. Finally, Royal Bank Of Canada dropped their target price on Axsome Therapeutics from $304.00 to $297.00 and set an “outperform” rating on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $267.60.

Axsome Therapeutics Trading Down 0.5%

Shares of AXSM opened at $213.68 on Friday. Axsome Therapeutics, Inc. has a twelve month low of $107.81 and a twelve month high of $260.19. The stock has a market cap of $11.19 billion, a PE ratio of -56.98 and a beta of 0.65. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27. The business’s 50-day moving average price is $235.91 and its 200-day moving average price is $204.99.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). The firm had revenue of $218.38 million during the quarter, compared to the consensus estimate of $221.11 million. Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 275.76%. On average, equities analysts forecast that Axsome Therapeutics, Inc. will post -2.71 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Susan Mahony sold 300 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $237.21, for a total transaction of $71,163.00. Following the completion of the transaction, the director directly owned 1,129 shares in the company, valued at $267,810.09. The trade was a 20.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Herriot Tabuteau sold 4,660 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $213.95, for a total transaction of $997,007.00. Following the completion of the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $1,546,644.55. The trade was a 39.20% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 200,766 shares of company stock worth $46,685,646. Company insiders own 20.60% of the company’s stock.

Axsome Therapeutics Company 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.