Axsome Therapeutics, Inc. $AXSM Shares Purchased by HB Wealth Management LLC

HB Wealth Management LLC raised its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 47.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 50,237 shares of the company’s stock after acquiring an additional 16,135 shares during the period. HB Wealth Management LLC’s holdings in Axsome Therapeutics were worth $8,491,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Axsome Therapeutics by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,923 shares of the company’s stock valued at $2,557,000 after buying an additional 1,002 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Axsome Therapeutics by 2,407.9% in the first quarter. Jones Financial Companies Lllp now owns 7,624 shares of the company’s stock valued at $889,000 after acquiring an additional 7,320 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Axsome Therapeutics by 38.7% in the first quarter. Goldman Sachs Group Inc. now owns 301,718 shares of the company’s stock valued at $35,189,000 after acquiring an additional 84,151 shares during the last quarter. Caxton Associates LLP acquired a new position in Axsome Therapeutics in the first quarter valued at $307,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Axsome Therapeutics by 29.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,892 shares of the company’s stock valued at $8,735,000 after acquiring an additional 17,250 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Analysts Set New Price Targets

AXSM has been the topic of several research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $272.00 price objective on shares of Axsome Therapeutics in a report on Monday, May 4th. TD Cowen upped their target price on Axsome Therapeutics from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Royal Bank Of Canada raised their price target on Axsome Therapeutics from $242.00 to $302.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Mizuho lifted their price target on Axsome Therapeutics from $228.00 to $310.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Finally, Robert W. Baird boosted their price objective on Axsome Therapeutics from $241.00 to $246.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Axsome Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $258.95.

Axsome Therapeutics Stock Performance

NASDAQ AXSM opened at $244.31 on Friday. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.32 and a current ratio of 1.39. The firm has a market cap of $12.57 billion, a PE ratio of -65.50 and a beta of 0.60. Axsome Therapeutics, Inc. has a one year low of $96.09 and a one year high of $260.19. The firm’s fifty day moving average is $230.88 and its two-hundred day moving average is $192.09.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, May 4th. The company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The business had revenue of $191.20 million during the quarter, compared to analysts’ expectations of $191.10 million. The firm’s revenue for the quarter was up 57.4% compared to the same quarter last year. Analysts expect that Axsome Therapeutics, Inc. will post -2.31 earnings per share for the current year.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark Coleman sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $230.30, for a total transaction of $1,381,800.00. Following the completion of the sale, the director directly owned 35,140 shares of the company’s stock, valued at $8,092,742. This represents a 14.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Herriot Tabuteau sold 49,670 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $241.01, for a total value of $11,970,966.70. Following the sale, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at $1,742,261.29. The trade was a 87.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 163,352 shares of company stock worth $38,598,262 over the last three months. 20.60% of the stock is currently owned by company insiders.

Axsome Therapeutics Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.