Hillsdale Investment Management Inc. Makes New Investment in Axsome Therapeutics, Inc. $AXSM

Hillsdale Investment Management Inc. purchased a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 53,363 shares of the company’s stock, valued at approximately $9,019,000. Hillsdale Investment Management Inc. owned approximately 0.10% of Axsome Therapeutics as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in Axsome Therapeutics by 84.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock worth $162,082,000 after buying an additional 609,516 shares during the period. Norges Bank acquired a new position in Axsome Therapeutics in the fourth quarter valued at about $90,490,000. Price T Rowe Associates Inc. MD grew its stake in Axsome Therapeutics by 45.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock valued at $275,763,000 after acquiring an additional 472,422 shares during the period. Invesco Ltd. grew its stake in Axsome Therapeutics by 73.3% in the third quarter. Invesco Ltd. now owns 990,557 shares of the company’s stock valued at $120,303,000 after acquiring an additional 419,008 shares during the period. Finally, Adage Capital Partners GP L.L.C. increased its holdings in shares of Axsome Therapeutics by 831.2% in the second quarter. Adage Capital Partners GP L.L.C. now owns 447,000 shares of the company’s stock worth $46,662,000 after acquiring an additional 399,000 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Analyst Upgrades and Downgrades

AXSM has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft set a $280.00 price target on Axsome Therapeutics in a research report on Tuesday, May 5th. UBS Group increased their target price on Axsome Therapeutics from $251.00 to $259.00 and gave the stock a “buy” rating in a research note on Friday, April 10th. Robert W. Baird raised their target price on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $272.00 price target on shares of Axsome Therapeutics in a research note on Monday, May 4th. Finally, Royal Bank Of Canada lifted their price target on shares of Axsome Therapeutics from $302.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $259.05.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, Director Susan Mahony sold 300 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total transaction of $71,163.00. Following the completion of the transaction, the director owned 1,129 shares of the company’s stock, valued at $267,810.09. This represents a 20.99% decrease in their position. The transaction was disclosed in a legal 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, CFO Nick Pizzie sold 33,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the transaction, the chief financial officer directly owned 42,867 shares of the company’s stock, valued at $10,291,938.03. This represents a 43.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 163,352 shares of company stock worth $38,598,262. Corporate insiders own 20.60% of the company’s stock.

Axsome Therapeutics Stock Performance

AXSM opened at $228.28 on Tuesday. The company has a market capitalization of $11.75 billion, a price-to-earnings ratio of -61.20 and a beta of 0.60. The business’s 50-day moving average price is $237.21 and its two-hundred day moving average price is $196.26. Axsome Therapeutics, Inc. has a 1 year low of $96.09 and a 1 year high of $260.19. 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 (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.41). The firm had revenue of $191.20 million for the quarter, compared to analyst estimates of $191.10 million. Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The firm’s quarterly revenue was up 57.4% compared to the same quarter last year. Equities analysts expect that Axsome Therapeutics, Inc. will post -2.31 EPS for the current fiscal year.

About Axsome Therapeutics

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.