Geode Capital Management LLC Grows Stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Geode Capital Management LLC lifted its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 908,459 shares of the company’s stock after purchasing an additional 23,564 shares during the quarter. Geode Capital Management LLC owned 1.87% of Axsome Therapeutics worth $81,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in Axsome Therapeutics by 7.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 165,564 shares of the company’s stock worth $13,328,000 after acquiring an additional 11,793 shares during the last quarter. Peregrine Capital Management LLC increased its holdings in Axsome Therapeutics by 1.4% in the 2nd quarter. Peregrine Capital Management LLC now owns 87,373 shares of the company’s stock worth $7,034,000 after buying an additional 1,238 shares in the last quarter. Rhumbline Advisers raised its position in Axsome Therapeutics by 5.1% in the 2nd quarter. Rhumbline Advisers now owns 54,931 shares of the company’s stock worth $4,422,000 after buying an additional 2,674 shares during the last quarter. Arizona State Retirement System lifted 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 during the period. Finally, Torray Investment Partners LLC boosted its holdings in shares of Axsome Therapeutics by 11.5% during the 2nd quarter. Torray Investment Partners LLC now owns 11,747 shares of the company’s stock valued at $946,000 after acquiring an additional 1,209 shares during the last quarter. Institutional investors own 81.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AXSM shares. Robert W. Baird raised their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a research note on Monday, November 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 target price on shares of Axsome Therapeutics in a report on Tuesday, November 12th. Cantor Fitzgerald reiterated an “overweight” rating and set a $121.00 price target on shares of Axsome Therapeutics in a research note on Thursday, December 12th. Finally, StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $125.93.

Axsome Therapeutics Price Performance

Shares of Axsome Therapeutics stock opened at $90.73 on Friday. The firm has a market cap of $4.40 billion, a PE ratio of -13.89 and a beta of 1.18. The stock has a 50 day moving average of $93.65 and a 200 day moving average of $87.87. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. Axsome Therapeutics, Inc. has a 12 month low of $64.11 and a 12 month high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The firm had revenue of $104.76 million during the quarter, compared to analyst estimates of $98.71 million. During the same period last year, the firm posted ($1.32) earnings per share. On average, research analysts expect that Axsome Therapeutics, Inc. will post -4.6 EPS for the current fiscal year.

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.