State Street Corp Cuts Stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

State Street Corp lessened its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 916,808 shares of the company’s stock after selling 21,695 shares during the period. State Street Corp’s holdings in Axsome Therapeutics were worth $82,394,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Arizona State Retirement System grew its stake in Axsome Therapeutics by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock valued at $695,000 after acquiring an additional 177 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Axsome Therapeutics by 22.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after acquiring an additional 318 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in Axsome Therapeutics during the 2nd quarter valued at about $27,000. WCM Investment Management LLC grew its stake in Axsome Therapeutics by 0.3% during the 3rd quarter. WCM Investment Management LLC now owns 113,692 shares of the company’s stock valued at $10,191,000 after acquiring an additional 347 shares in the last quarter. Finally, US Bancorp DE grew its stake in Axsome Therapeutics by 0.3% during the 3rd quarter. US Bancorp DE now owns 133,126 shares of the company’s stock valued at $11,964,000 after acquiring an additional 421 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Analyst Ratings Changes

AXSM has been the subject of several research reports. Wells Fargo & Company initiated coverage on shares of Axsome Therapeutics in a research note on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price objective for the company. Royal Bank of Canada boosted their target price on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, October 4th. HC Wainwright reiterated a “buy” rating and issued a $180.00 target price on shares of Axsome Therapeutics in a report on Monday, November 25th. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 target price on shares of Axsome Therapeutics in a report on Tuesday, November 12th. Finally, StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $125.93.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $89.68 on Tuesday. The firm’s 50 day moving average price is $93.02 and its 200-day moving average price is $87.47. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. Axsome Therapeutics, Inc. has a one year low of $64.11 and a one year high of $105.00. The firm has a market cap of $4.35 billion, a P/E ratio of -13.73 and a beta of 1.18.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping the consensus estimate of ($1.38) by $0.04. The firm 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 period in the prior year, the business posted ($1.32) EPS. As a group, equities research analysts predict that Axsome Therapeutics, Inc. will post -4.6 EPS for the current year.

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.