Emerald Investment Advisers LLC Makes New Investment in Axsome Therapeutics, Inc. $AXSM

Emerald Investment Advisers LLC acquired a new stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 28,630 shares of the company’s stock, valued at approximately $7,008,000.

Several other institutional investors have also modified their holdings of AXSM. Kemnay Advisory Services Inc. purchased a new stake in shares of Axsome Therapeutics during the fourth quarter worth about $31,000. Ameriflex Group Inc. purchased a new position in Axsome Therapeutics in the 4th quarter valued at about $37,000. Hollencrest Capital Management lifted its stake in Axsome Therapeutics by 400.0% in 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 in the last quarter. Silvant Capital Management LLC acquired a new stake in Axsome Therapeutics in the 2nd quarter worth about $66,000. Finally, Farther Finance Advisors LLC boosted its holdings in Axsome Therapeutics by 602.6% in the 4th quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock worth $50,000 after buying an additional 235 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Insiders Place Their Bets

In related news, Director Mark Coleman sold 643 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $249.00, for a total transaction of $160,107.00. Following the transaction, the director owned 30,389 shares in the company, valued at approximately $7,566,861. This trade represents a 2.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Roger Jeffs sold 286 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $246.18, for a total value of $70,407.48. Following the transaction, the director directly owned 58,653 shares in the company, valued at $14,439,195.54. This trade represents a 0.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 200,766 shares of company stock valued at $46,685,646. Insiders own 20.60% of the company’s stock.

Axsome Therapeutics Stock Performance

AXSM opened at $207.77 on Friday. Axsome Therapeutics, Inc. has a twelve month low of $112.90 and a twelve month high of $260.19. The firm has a market capitalization of $10.88 billion, a PE ratio of -55.41 and a beta of 0.65. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 1.52. The firm’s 50-day moving average price is $232.13 and its 200 day moving average price is $206.02.

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). Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. The business had revenue of $218.38 million during the quarter, compared to analyst estimates of $221.11 million. As a group, sell-side analysts expect that Axsome Therapeutics, Inc. will post -2.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AXSM shares. UBS Group started coverage on Axsome Therapeutics in a research note on Tuesday, August 11th. They set a “market perform” rating for the company. Zacks Research upgraded Axsome Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday. TD Cowen lifted their price target on Axsome Therapeutics from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Royal Bank Of Canada dropped their price target on Axsome Therapeutics from $304.00 to $297.00 and set an “outperform” rating for the company in a research report on Tuesday, August 11th. Finally, Morgan Stanley increased their price objective on Axsome Therapeutics from $242.00 to $251.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Axsome Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $267.60.

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.