Charles Schwab Investment Management Inc. Increases Stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Charles Schwab Investment Management Inc. raised its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 1.7% during the 4th quarter, HoldingsChannel reports. The fund owned 328,034 shares of the company’s stock after acquiring an additional 5,438 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Axsome Therapeutics were worth $27,755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of AXSM. Royce & Associates LP grew its holdings in Axsome Therapeutics by 73.1% during the 3rd quarter. Royce & Associates LP now owns 22,500 shares of the company’s stock valued at $2,022,000 after buying an additional 9,500 shares in the last quarter. Whalen Wealth Management Inc. bought a new position in shares of Axsome Therapeutics during the third quarter worth $236,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Axsome Therapeutics during the third quarter valued at $830,000. Moors & Cabot Inc. bought a new stake in Axsome Therapeutics in the 3rd quarter valued at $200,000. Finally, Intech Investment Management LLC purchased a new stake in Axsome Therapeutics in the 3rd quarter worth $983,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. HC Wainwright restated a “buy” rating and set a $200.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, March 6th. Robert W. Baird boosted their price objective on shares of Axsome Therapeutics from $132.00 to $160.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Bank of America raised their target price on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Mizuho raised their price target on Axsome Therapeutics from $195.00 to $212.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Finally, Truist Financial raised their target price on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $167.36.

Axsome Therapeutics Stock Up 3.1 %

Shares of NASDAQ:AXSM opened at $125.68 on Tuesday. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. The company has a market capitalization of $6.13 billion, a P/E ratio of -20.98 and a beta of 1.00. Axsome Therapeutics, Inc. has a 52-week low of $64.11 and a 52-week high of $139.13. The stock’s fifty day simple moving average is $113.06 and its 200-day simple moving average is $99.22.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The business had revenue of $118.77 million for the quarter, compared to the consensus estimate of $117.83 million. As a group, equities research analysts forecast that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Insider Activity at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the transaction, the chief financial officer now directly owns 42,187 shares of the company’s stock, valued at approximately $5,529,450.09. The trade was a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 22.40% of the stock is currently owned by insiders.

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.