Royce & Associates LP Has $2.02 Million Stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Royce & Associates LP lifted its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 73.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,500 shares of the company’s stock after buying an additional 9,500 shares during the quarter. Royce & Associates LP’s holdings in Axsome Therapeutics were worth $2,022,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AXSM. Northwestern Mutual Wealth Management Co. bought a new stake in Axsome Therapeutics during the second quarter valued at $27,000. EntryPoint Capital LLC bought a new stake in shares of Axsome Therapeutics during the 1st quarter valued at about $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Axsome Therapeutics during the second quarter worth approximately $47,000. Russell Investments Group Ltd. increased its holdings in Axsome Therapeutics by 5,550.0% in the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after purchasing an additional 777 shares in the last quarter. Finally, Covestor Ltd lifted its stake in Axsome Therapeutics by 54,750.0% in the first quarter. Covestor Ltd now owns 1,097 shares of the company’s stock valued at $88,000 after buying an additional 1,095 shares during the period. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on AXSM. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, November 12th. Wells Fargo & Company assumed coverage on shares of Axsome Therapeutics in a research note on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $107.00 price objective on shares of Axsome Therapeutics in a research report on Monday, September 16th. Bank of America raised Axsome Therapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the company from $95.00 to $106.00 in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada increased their price target on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $124.93.

Insider Buying and Selling

In related news, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 10,002 shares of the company’s stock, valued at approximately $913,282.62. This trade represents a 52.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.40% of the stock is currently owned by insiders.

Axsome Therapeutics Stock Performance

NASDAQ AXSM opened at $95.46 on Wednesday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. The company has a market capitalization of $4.63 billion, a PE ratio of -14.62 and a beta of 1.26. Axsome Therapeutics, Inc. has a 52-week low of $58.61 and a 52-week high of $105.00. The company has a 50-day simple moving average of $90.63 and a 200 day simple moving average of $84.54.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The business had revenue of $104.76 million during the quarter, compared to analyst estimates of $98.71 million. During the same period in the prior year, the company earned ($1.32) earnings per share. On average, research analysts predict that Axsome Therapeutics, Inc. will post -4.75 EPS for the current year.

About Axsome Therapeutics

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.