Point72 Europe London LLP Takes Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Point72 Europe London LLP acquired a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the second quarter, Holdings Channel reports. The firm acquired 30,741 shares of the company’s stock, valued at approximately $2,475,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tri Locum Partners LP grew its holdings in shares of Axsome Therapeutics by 198.4% during the second quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock valued at $24,674,000 after buying an additional 203,802 shares in the last quarter. Bank of Montreal Can purchased a new position in Axsome Therapeutics during the 2nd quarter valued at about $849,000. Hood River Capital Management LLC increased its holdings in shares of Axsome Therapeutics by 5.4% in the 2nd quarter. Hood River Capital Management LLC now owns 549,066 shares of the company’s stock valued at $44,200,000 after purchasing an additional 28,316 shares during the period. HighVista Strategies LLC lifted its position in shares of Axsome Therapeutics by 28.2% in the second quarter. HighVista Strategies LLC now owns 62,192 shares of the company’s stock worth $5,006,000 after purchasing an additional 13,665 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Axsome Therapeutics by 13.9% during the second quarter. Sei Investments Co. now owns 40,624 shares of the company’s stock worth $3,270,000 after purchasing an additional 4,970 shares during the period. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $89.92 on Thursday. The stock’s 50-day simple moving average is $88.35 and its 200 day simple moving average is $80.00. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.40 and a current ratio of 2.48. Axsome Therapeutics, Inc. has a 52-week low of $55.02 and a 52-week high of $98.40. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of -14.09 and a beta of 1.25.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Monday, August 5th. The company reported ($1.24) EPS for the quarter, topping the consensus estimate of ($1.30) by $0.06. Axsome Therapeutics had a negative net margin of 105.85% and a negative return on equity of 117.46%. The company had revenue of $87.17 million for the quarter, compared to the consensus estimate of $84.53 million. Research analysts forecast that Axsome Therapeutics, Inc. will post -4.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 47,739 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 5,783 shares in the company, valued at $487,275.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 10,002 shares of the company’s stock, valued at $913,282.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Mark L. Jacobson sold 47,739 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the sale, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at approximately $487,275.58. The disclosure for this sale can be found here. Corporate insiders own 22.40% of the company’s stock.

Analyst Ratings Changes

AXSM has been the subject of a number of research analyst reports. UBS Group cut their target price on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. HC Wainwright reiterated a “buy” rating and set a $180.00 price objective on shares of Axsome Therapeutics in a report on Thursday, September 5th. Bank of America raised Axsome Therapeutics from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $95.00 to $106.00 in a research report on Tuesday, August 6th. StockNews.com lowered Axsome Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. Finally, Wells Fargo & Company initiated coverage on Axsome Therapeutics in a report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price target for the company. One equities research analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Axsome Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $124.57.

Axsome Therapeutics Company 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.