TimesSquare Capital Management LLC Purchases New Stake in Axsome Therapeutics, Inc. $AXSM

TimesSquare Capital Management LLC acquired a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 71,510 shares of the company’s stock, valued at approximately $17,504,000.

Other hedge funds have also recently modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new position in Axsome Therapeutics during the fourth quarter worth about $31,000. Hollencrest Capital Management raised its position in shares of Axsome Therapeutics by 400.0% during the 1st quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock valued at $34,000 after buying an additional 160 shares during the period. Ameriflex Group Inc. acquired a new position in Axsome Therapeutics in the fourth quarter valued at approximately $37,000. Advisory Services Network LLC purchased a new position in Axsome Therapeutics in the third quarter worth approximately $40,000. Finally, Farther Finance Advisors LLC increased its stake in Axsome Therapeutics by 602.6% during the fourth quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock worth $50,000 after acquiring an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM opened at $216.27 on Tuesday. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.43 and a quick ratio of 1.34. The company has a market cap of $11.33 billion, a price-to-earnings ratio of -57.67 and a beta of 0.65. The stock’s 50-day moving average is $235.16 and its two-hundred day moving average is $205.39. Axsome Therapeutics, Inc. has a 1-year low of $109.40 and a 1-year high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.10). Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. The company had revenue of $218.38 million during the quarter, compared to analysts’ expectations of $221.11 million. Analysts forecast that Axsome Therapeutics, Inc. will post -2.7 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AXSM shares. Zacks Research cut Axsome Therapeutics from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. Needham & Company LLC increased their target price on shares of Axsome Therapeutics from $267.00 to $268.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Royal Bank Of Canada reduced their price target on shares of Axsome Therapeutics from $304.00 to $297.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 11th. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, June 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $272.00 target price on shares of Axsome Therapeutics in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $267.60.

Insider Buying and Selling at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 33,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $240.09, for a total value of $7,922,970.00. Following the completion of the transaction, the chief financial officer owned 42,867 shares in the company, valued at approximately $10,291,938.03. This represents a 43.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Roger Jeffs sold 286 shares of Axsome Therapeutics stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $246.18, for a total transaction of $70,407.48. Following 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. 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. In the last ninety days, insiders have sold 200,766 shares of company stock worth $46,685,646. 20.60% of the stock is currently owned by corporate insiders.

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.