Axsome Therapeutics, Inc. $AXSM Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. lessened its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 6.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 46,916 shares of the company’s stock after selling 2,984 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Axsome Therapeutics were worth $5,698,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in AXSM. Ameritas Advisory Services LLC acquired a new stake in shares of Axsome Therapeutics during the 2nd quarter valued at approximately $77,000. Assetmark Inc. boosted its holdings in Axsome Therapeutics by 13.9% in the second quarter. Assetmark Inc. now owns 1,124 shares of the company’s stock worth $117,000 after purchasing an additional 137 shares during the period. Financial Consulate Inc. bought a new stake in Axsome Therapeutics during the third quarter valued at $148,000. Allworth Financial LP increased its stake in Axsome Therapeutics by 361.8% during the second quarter. Allworth Financial LP now owns 1,353 shares of the company’s stock valued at $141,000 after purchasing an additional 1,060 shares during the last quarter. Finally, AlphaQuest LLC raised its holdings in shares of Axsome Therapeutics by 390.2% during the second quarter. AlphaQuest LLC now owns 1,608 shares of the company’s stock worth $168,000 after purchasing an additional 1,280 shares during the period. Institutional investors and hedge funds own 81.49% of the company’s stock.

Axsome Therapeutics Stock Performance

Shares of NASDAQ AXSM opened at $171.49 on Tuesday. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 1.66. The stock has a 50 day simple moving average of $148.02 and a 200-day simple moving average of $126.26. The company has a market cap of $8.65 billion, a PE ratio of -36.72, a P/E/G ratio of 12.83 and a beta of 0.44. Axsome Therapeutics, Inc. has a 12-month low of $79.19 and a 12-month high of $184.40.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Monday, November 3rd. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.12). The business had revenue of $170.99 million during the quarter, compared to analyst estimates of $162.96 million. Axsome Therapeutics had a negative net margin of 40.90% and a negative return on equity of 277.31%. The business’s quarterly revenue was up 63.2% on a year-over-year basis. On average, equities research analysts forecast that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AXSM. HC Wainwright lifted their price target on shares of Axsome Therapeutics from $185.00 to $200.00 and gave the company a “buy” rating in a report on Monday. Cowen reissued a “buy” rating on shares of Axsome Therapeutics in a report on Wednesday, December 31st. B. Riley began coverage on Axsome Therapeutics in a research note on Wednesday, October 1st. They issued a “buy” rating and a $179.00 target price for the company. Wells Fargo & Company dropped their price target on Axsome Therapeutics from $163.00 to $157.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 4th. Finally, Mizuho set a $217.00 price target on Axsome Therapeutics in a report on Wednesday, December 31st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $188.38.

Insiders Place Their Bets

In other news, Director Mark E. Saad sold 37,577 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $165.18, for a total transaction of $6,206,968.86. Following the transaction, the director directly owned 10,002 shares of the company’s stock, valued at approximately $1,652,130.36. This trade represents a 78.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Herriot Tabuteau sold 91,705 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $132.34, for a total transaction of $12,136,239.70. Following the completion of the sale, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at $956,685.86. The trade was a 92.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 294,263 shares of company stock worth $41,189,282 over the last three months. Corporate insiders own 22.30% 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.