Fmr LLC Raises Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Fmr LLC raised its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 20.6% in the third quarter, Holdings Channel.com reports. The fund owned 1,088,087 shares of the company’s stock after buying an additional 185,951 shares during the quarter. Fmr LLC’s holdings in Axsome Therapeutics were worth $97,786,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Axsome Therapeutics in the 2nd quarter valued at about $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Axsome Therapeutics in the second quarter valued at approximately $47,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Axsome Therapeutics by 22.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after buying an additional 318 shares in the last quarter. Moors & Cabot Inc. purchased a new stake in Axsome Therapeutics during the third quarter worth approximately $200,000. Finally, Whalen Wealth Management Inc. acquired a new stake in shares of Axsome Therapeutics in the third quarter worth $236,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $130.00 target price on shares of Axsome Therapeutics in a report on Tuesday, November 12th. Royal Bank of Canada boosted their price objective on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 target price on shares of Axsome Therapeutics in a research report on Monday, September 16th. HC Wainwright reiterated a “buy” rating and set a $180.00 target price on shares of Axsome Therapeutics in a report on Monday, November 25th. Finally, Robert W. Baird upped their price target on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.93.

Insiders Place Their Bets

In other news, Director Mark E. Saad sold 11,016 shares of the firm’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 transaction, the director now directly owns 10,002 shares in the company, valued at approximately $913,282.62. This trade represents a 52.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 22.40% of the stock is currently owned by company insiders.

Axsome Therapeutics Trading Down 1.2 %

AXSM opened at $98.35 on Friday. Axsome Therapeutics, Inc. has a 12-month low of $64.11 and a 12-month high of $105.00. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. The stock has a market capitalization of $4.77 billion, a PE ratio of -15.06 and a beta of 1.18. The firm’s fifty day moving average price is $92.23 and its 200 day moving average price is $86.45.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. The business had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same quarter in the prior year, the business posted ($1.32) EPS. As a group, research analysts expect that Axsome Therapeutics, Inc. will post -4.58 EPS for the current fiscal year.

About Axsome Therapeutics

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.