NewEdge Wealth LLC Acquires Shares of 3,476 Axsome Therapeutics, Inc. $AXSM

NewEdge Wealth LLC bought a new position in 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 bought 3,476 shares of the company’s stock, valued at approximately $851,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Axsome Therapeutics during the second quarter valued at $759,695,000. Price T Rowe Associates Inc. MD lifted its holdings in Axsome Therapeutics by 45.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock valued at $275,763,000 after buying an additional 472,422 shares in the last quarter. Wellington Management Group LLP lifted its holdings 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 valued at $162,082,000 after buying an additional 609,516 shares in the last quarter. Invesco Ltd. boosted its position in Axsome Therapeutics by 28.6% in the 4th quarter. Invesco Ltd. now owns 1,273,494 shares of the company’s stock valued at $232,591,000 after buying an additional 282,937 shares during the period. Finally, Geode Capital Management LLC boosted its position in Axsome Therapeutics by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 1,010,249 shares of the company’s stock valued at $184,544,000 after buying an additional 12,549 shares during the period. 81.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AXSM has been the topic of a number of research reports. 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 research report on Tuesday, May 5th. TD Cowen boosted their price target on Axsome Therapeutics from $275.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. Royal Bank Of Canada dropped their price objective on Axsome Therapeutics from $304.00 to $297.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 11th. Morgan Stanley raised their price objective on Axsome Therapeutics from $242.00 to $251.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 11th. Finally, Mizuho lifted their target price on Axsome Therapeutics from $306.00 to $316.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $267.60.

Axsome Therapeutics Trading Down 0.1%

NASDAQ:AXSM opened at $207.77 on Friday. Axsome Therapeutics, Inc. has a one year low of $112.90 and a one year high of $260.19. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.34 and a current ratio of 1.43. The firm has a market cap of $10.88 billion, a P/E ratio of -55.41 and a beta of 0.65. The firm has a 50-day simple moving average of $232.13 and a 200-day simple moving average of $206.02.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). The business had revenue of $218.38 million for the quarter, compared to the consensus estimate of $221.11 million. Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. Equities analysts anticipate that Axsome Therapeutics, Inc. will post -2.78 EPS for the current fiscal year.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark Coleman sold 643 shares of the stock in a transaction 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 sale, the director owned 30,389 shares of the company’s stock, valued at approximately $7,566,861. This trade represents a 2.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Susan Mahony sold 300 shares of Axsome Therapeutics stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $237.21, for a total value of $71,163.00. Following the completion of the transaction, the director owned 1,129 shares in the company, valued at $267,810.09. This represents a 20.99% 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. Insiders have sold 200,766 shares of company stock valued at $46,685,646 over the last 90 days. Insiders own 20.60% 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.