Axsome Therapeutics, Inc. $AXSM Holdings Trimmed by Intech Investment Management LLC

Intech Investment Management LLC trimmed its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 30.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 16,049 shares of the company’s stock after selling 6,907 shares during the period. Intech Investment Management LLC’s holdings in Axsome Therapeutics were worth $1,949,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Versant Capital Management Inc increased its stake in shares of Axsome Therapeutics by 20,300.0% in the third quarter. Versant Capital Management Inc now owns 204 shares of the company’s stock worth $25,000 after acquiring an additional 203 shares during the last quarter. First Horizon Corp purchased a new position in Axsome Therapeutics in the third quarter valued at about $34,000. Optiver Holding B.V. grew its stake in Axsome Therapeutics by 82.3% in the third quarter. Optiver Holding B.V. now owns 288 shares of the company’s stock valued at $35,000 after purchasing an additional 130 shares in the last quarter. Essex Investment Management Co. LLC purchased a new stake in shares of Axsome Therapeutics during the 3rd quarter worth about $38,000. Finally, UMB Bank n.a. raised its stake in shares of Axsome Therapeutics by 214.4% during the 3rd quarter. UMB Bank n.a. now owns 371 shares of the company’s stock worth $45,000 after purchasing an additional 253 shares in the last quarter. 81.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AXSM. Royal Bank Of Canada raised their price objective on shares of Axsome Therapeutics from $219.00 to $222.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Mizuho set a $230.00 price target on shares of Axsome Therapeutics in a research note on Thursday, February 19th. Morgan Stanley set a $207.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, February 24th. Oppenheimer reiterated an “outperform” rating and issued a $220.00 price objective on shares of Axsome Therapeutics in a report on Wednesday, December 31st. Finally, Wells Fargo & Company raised their target price on Axsome Therapeutics from $193.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, February 24th. Seventeen analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $216.12.

Axsome Therapeutics Price Performance

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 company has a market cap of $8.39 billion, a PE ratio of -44.47 and a beta of 0.43. The firm has a fifty day moving average price of $176.42 and a two-hundred day moving average price of $147.52. Axsome Therapeutics, Inc. has a fifty-two week low of $86.99 and a fifty-two week high of $191.50.

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

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 32,410 shares of Axsome Therapeutics stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $185.60, for a total value of $6,015,296.00. Following the completion of the transaction, the chief executive officer owned 7,229 shares in the company, valued at approximately $1,341,702.40. The trade was a 81.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Nick Pizzie sold 12,000 shares of Axsome Therapeutics stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $187.92, for a total value of $2,255,040.00. Following the completion of the transaction, the chief financial officer directly owned 42,588 shares of the company’s stock, valued at $8,003,136.96. This represents a 21.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 289,279 shares of company stock valued at $49,496,963. 22.30% of the stock is owned by insiders.

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.