HighTower Advisors LLC Makes New Investment in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

HighTower Advisors LLC purchased a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 13,460 shares of the company’s stock, valued at approximately $1,139,000.

Several other hedge funds and other institutional investors have also modified their holdings of AXSM. JPMorgan Chase & Co. boosted its stake in Axsome Therapeutics by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock valued at $19,062,000 after acquiring an additional 27,534 shares during the period. Strategic Financial Concepts LLC bought a new position in shares of Axsome Therapeutics during the fourth quarter worth about $2,599,000. Raymond James Financial Inc. acquired a new stake in shares of Axsome Therapeutics in the 4th quarter worth about $14,771,000. PDT Partners LLC acquired a new position in Axsome Therapeutics during the 3rd quarter valued at about $1,052,000. Finally, Charles Schwab Investment Management Inc. grew its position in Axsome Therapeutics by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 328,034 shares of the company’s stock worth $27,755,000 after purchasing an additional 5,438 shares during the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $120.36 on Wednesday. The company has a 50-day moving average of $118.07 and a two-hundred day moving average of $100.65. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of -20.09 and a beta of 1.00. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04. Axsome Therapeutics, Inc. has a one year low of $64.11 and a one year high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $118.77 million during the quarter, compared to analyst estimates of $117.83 million. On average, equities research analysts expect that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Insider Activity at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 22.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AXSM. Bank of America boosted their price objective on Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Axsome Therapeutics in a report on Tuesday, February 11th. They issued a “buy” rating and a $176.00 price objective for the company. Royal Bank of Canada raised their target price on shares of Axsome Therapeutics from $143.00 to $192.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Mizuho upped their price target on shares of Axsome Therapeutics from $195.00 to $212.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Finally, Truist Financial raised their price objective on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Axsome Therapeutics has an average rating of “Moderate Buy” and an average target price of $167.36.

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.