IFP Advisors Inc Acquires 18,038 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

IFP Advisors Inc lifted its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 36.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 67,839 shares of the company’s stock after acquiring an additional 18,038 shares during the period. IFP Advisors Inc’s holdings in Axsome Therapeutics were worth $5,740,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. R Squared Ltd bought a new position in shares of Axsome Therapeutics in the fourth quarter worth approximately $64,000. KBC Group NV lifted its stake in shares of Axsome Therapeutics by 40.5% in the fourth quarter. KBC Group NV now owns 1,336 shares of the company’s stock worth $113,000 after buying an additional 385 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Axsome Therapeutics by 22.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock worth $156,000 after buying an additional 318 shares in the last quarter. Moors & Cabot Inc. bought a new position in shares of Axsome Therapeutics in the third quarter worth approximately $200,000. Finally, Whalen Wealth Management Inc. bought a new position in shares of Axsome Therapeutics in the third quarter worth approximately $236,000. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Stock Up 6.7 %

Shares of AXSM stock opened at $137.75 on Monday. Axsome Therapeutics, Inc. has a 12 month low of $64.11 and a 12 month high of $139.13. The stock has a market cap of $6.72 billion, a P/E ratio of -23.00 and a beta of 1.05. The company has a current ratio of 2.11, a quick ratio of 2.37 and a debt-to-equity ratio of 3.22. The company has a 50 day simple moving average of $101.29 and a two-hundred day simple moving average of $94.99.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, beating 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 business had revenue of $118.77 million during the quarter, compared to analysts’ expectations of $117.83 million. On average, research analysts expect that Axsome Therapeutics, Inc. will post -2.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AXSM. Royal Bank of Canada upped their target price on shares of Axsome Therapeutics from $143.00 to $192.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. William Blair reissued an “outperform” rating on shares of Axsome Therapeutics in a report on Tuesday, February 18th. Leerink Partners boosted their price objective on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Axsome Therapeutics in a report on Tuesday, February 11th. They set a “buy” rating and a $176.00 price objective for the company. Finally, HC Wainwright boosted their price objective on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the company a “buy” rating in a report on Thursday. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $158.79.

Insider Buying and Selling at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares of the company’s stock, valued at $5,529,450.09. This represents a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 22.40% of the stock is owned by corporate insiders.

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.