Wedbush Securities Inc. Trims Stock Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Wedbush Securities Inc. cut its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 41.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,818 shares of the company’s stock after selling 3,479 shares during the quarter. Wedbush Securities Inc.’s holdings in Axsome Therapeutics were worth $388,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of AXSM. EntryPoint Capital LLC acquired a new position in Axsome Therapeutics during the 1st quarter worth about $35,000. Russell Investments Group Ltd. increased its position in shares of Axsome Therapeutics by 5,550.0% during the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after acquiring an additional 777 shares during the period. Covestor Ltd raised its stake in shares of Axsome Therapeutics by 54,750.0% in the first quarter. Covestor Ltd now owns 1,097 shares of the company’s stock valued at $88,000 after acquiring an additional 1,095 shares in the last quarter. Janiczek Wealth Management LLC purchased a new stake in Axsome Therapeutics during the 1st quarter worth about $97,000. Finally, Natixis raised its position in Axsome Therapeutics by 13.6% in the 1st quarter. Natixis now owns 1,235 shares of the company’s stock valued at $99,000 after purchasing an additional 148 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Stock Up 2.1 %

Shares of NASDAQ:AXSM opened at $93.67 on Friday. Axsome Therapeutics, Inc. has a 12-month low of $55.02 and a 12-month high of $98.40. The company has a current ratio of 2.48, a quick ratio of 2.40 and a debt-to-equity ratio of 1.77. The stock’s 50-day moving average price is $86.69 and its two-hundred day moving average price is $79.13. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of -14.68 and a beta of 1.25.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, August 5th. The company reported ($1.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.30) by $0.06. The company had revenue of $87.17 million during the quarter, compared to analysts’ expectations of $84.53 million. Axsome Therapeutics had a negative net margin of 105.85% and a negative return on equity of 117.46%. On average, research analysts forecast that Axsome Therapeutics, Inc. will post -4.73 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on AXSM shares. HC Wainwright restated a “buy” rating and set a $180.00 target price on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Mizuho reissued a “buy” rating and issued a $106.00 target price on shares of Axsome Therapeutics in a report on Wednesday, June 12th. StockNews.com downgraded Axsome Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Bank of America upgraded Axsome Therapeutics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $95.00 to $106.00 in a report on Tuesday, August 6th. Finally, Wells Fargo & Company started coverage on shares of Axsome Therapeutics in a research report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price objective for the company. One analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $124.57.

Insiders Place Their Bets

In related news, Director Mark E. Saad sold 11,016 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the transaction, the director now directly owns 10,002 shares of the company’s stock, valued at approximately $913,282.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Mark L. Jacobson sold 47,739 shares of Axsome Therapeutics stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.26, for a total value of $4,022,488.14. Following the completion of the transaction, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at approximately $487,275.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark E. Saad sold 11,016 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total value of $1,005,870.96. Following the completion of the transaction, the director now owns 10,002 shares of the company’s stock, valued at $913,282.62. The disclosure for this sale can be found here. 22.40% of the stock is currently owned by insiders.

Axsome Therapeutics Profile

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company’s commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.