Fred Alger Management LLC Takes $860,000 Position in Axsome Therapeutics, Inc. $AXSM

Fred Alger Management LLC bought a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,373 shares of the company’s stock, valued at approximately $860,000.

Several other large investors have also recently made changes to their positions in the company. BVF Inc. IL raised its position in shares of Axsome Therapeutics by 21.8% in the first quarter. BVF Inc. IL now owns 1,690,221 shares of the company’s stock valued at $197,130,000 after buying an additional 302,157 shares during the last quarter. Invesco Ltd. increased its position in shares of Axsome Therapeutics by 23.8% during the first quarter. Invesco Ltd. now owns 857,001 shares of the company’s stock valued at $99,952,000 after acquiring an additional 164,537 shares during the last quarter. Wellington Management Group LLP lifted its stake in Axsome Therapeutics by 4.5% during the first quarter. Wellington Management Group LLP now owns 703,279 shares of the company’s stock worth $82,023,000 after purchasing an additional 30,122 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Axsome Therapeutics by 16,852.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 627,418 shares of the company’s stock valued at $73,176,000 after acquiring an additional 623,717 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in shares of Axsome Therapeutics by 525.7% in the fourth quarter. Lazard Asset Management LLC now owns 537,669 shares of the company’s stock valued at $45,492,000 after purchasing an additional 451,737 shares in the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AXSM has been the topic of a number of analyst reports. Oppenheimer initiated coverage on Axsome Therapeutics in a research report on Tuesday, June 3rd. They issued an “outperform” rating and a $185.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, June 10th. Bank of America boosted their price target on Axsome Therapeutics from $173.00 to $176.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. Cantor Fitzgerald upgraded shares of Axsome Therapeutics to a “strong-buy” rating in a research report on Wednesday, May 14th. Finally, Needham & Company LLC restated a “buy” rating and issued a $150.00 price target on shares of Axsome Therapeutics in a research note on Monday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $177.86.

Insider Activity at Axsome Therapeutics

In related news, General Counsel Hunter R. Murdock sold 6,014 shares of the company’s stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $100.12, for a total transaction of $602,121.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Roger Jeffs sold 13,464 shares of Axsome Therapeutics stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $123.68, for a total transaction of $1,665,227.52. Following the completion of the transaction, the director directly owned 57,510 shares of the company’s stock, valued at approximately $7,112,836.80. This represents a 18.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 100,299 shares of company stock worth $11,766,554 over the last quarter. Company insiders own 22.40% of the company’s stock.

Axsome Therapeutics Stock Down 2.8%

NASDAQ AXSM opened at $125.68 on Wednesday. Axsome Therapeutics, Inc. has a fifty-two week low of $75.56 and a fifty-two week high of $139.13. The stock has a market cap of $6.27 billion, a PE ratio of -24.79 and a beta of 0.54. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 1.66. The business has a 50 day moving average price of $111.18 and a two-hundred day moving average price of $110.83.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Monday, August 4th. The company reported ($0.92) EPS for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.08. Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. The firm had revenue of $150.04 million for the quarter, compared to analyst estimates of $140.02 million. As a group, sell-side analysts predict that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

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.