Millennium Management LLC Buys 10,401 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Millennium Management LLC boosted its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 1.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 739,819 shares of the company’s stock after acquiring an additional 10,401 shares during the quarter. Millennium Management LLC owned approximately 1.56% of Axsome Therapeutics worth $59,555,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AXSM. EntryPoint Capital LLC bought a new stake in Axsome Therapeutics during the 1st quarter worth about $35,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Axsome Therapeutics during the 2nd quarter worth about $47,000. Russell Investments Group Ltd. grew its holdings in Axsome Therapeutics by 5,550.0% during the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after acquiring an additional 777 shares during the last quarter. Covestor Ltd grew its holdings in Axsome Therapeutics by 54,750.0% during the 1st quarter. Covestor Ltd now owns 1,097 shares of the company’s stock worth $88,000 after acquiring an additional 1,095 shares during the last quarter. Finally, Janiczek Wealth Management LLC bought a new stake in Axsome Therapeutics during the 1st quarter worth about $97,000. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Stock Up 0.3 %

Axsome Therapeutics stock opened at $89.87 on Tuesday. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.48 and a quick ratio of 2.40. Axsome Therapeutics, Inc. has a fifty-two week low of $55.02 and a fifty-two week high of $98.40. The company’s 50 day simple moving average is $88.60 and its 200 day simple moving average is $80.35. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of -14.09 and a beta of 1.25.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Monday, August 5th. The company reported ($1.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.30) by $0.06. Axsome Therapeutics had a negative net margin of 105.85% and a negative return on equity of 117.46%. The firm had revenue of $87.17 million for the quarter, compared to analyst estimates of $84.53 million. As a group, sell-side analysts anticipate that Axsome Therapeutics, Inc. will post -4.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AXSM. Cantor Fitzgerald reiterated an “overweight” rating and set a $107.00 price target on shares of Axsome Therapeutics in a research report on Monday, September 16th. Needham & Company LLC reiterated a “buy” rating and set a $130.00 price target on shares of Axsome Therapeutics in a research report on Thursday, September 5th. Bank of America upgraded shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $95.00 to $106.00 in a research report on Tuesday, August 6th. HC Wainwright reiterated a “buy” rating and set a $180.00 price target on shares of Axsome Therapeutics in a research report on Thursday, September 5th. Finally, Mizuho reiterated a “buy” rating and set a $106.00 price target on shares of Axsome Therapeutics in a research report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $124.57.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 47,739 shares of Axsome Therapeutics stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $84.26, for a total value of $4,022,488.14. Following the transaction, the chief operating officer now owns 5,783 shares of the company’s stock, valued at $487,275.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Mark E. Saad sold 11,016 shares of the business’s stock in a transaction on 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 sale, the director now owns 10,002 shares of the company’s stock, valued at $913,282.62. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Mark L. Jacobson sold 47,739 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the completion of the sale, the chief operating officer now directly owns 5,783 shares in the company, valued at approximately $487,275.58. The disclosure for this sale can be found here. Insiders own 22.40% of the company’s stock.

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.