TimesSquare Capital Management LLC Takes Position in Axsome Therapeutics, Inc. $AXSM

TimesSquare Capital Management LLC acquired a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 71,510 shares of the company’s stock, valued at approximately $17,504,000. TimesSquare Capital Management LLC owned 0.14% of Axsome Therapeutics at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Persistent Asset Partners Ltd acquired a new position in Axsome Therapeutics during the second quarter valued at $385,000. OneDigital Investment Advisors LLC purchased a new position in shares of Axsome Therapeutics during the 2nd quarter valued at about $1,906,000. Global Retirement Partners LLC purchased a new position in shares of Axsome Therapeutics during the 2nd quarter valued at about $107,000. Bank of New York Mellon Corp acquired a new position in shares of Axsome Therapeutics in the 2nd quarter valued at about $48,275,000. Finally, State of Wyoming acquired a new position in shares of Axsome Therapeutics in the 2nd quarter valued at about $184,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

Insider Activity

In related news, Director Roger Jeffs sold 286 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $246.18, for a total value of $70,407.48. Following the completion of the transaction, the director directly owned 58,653 shares of the company’s stock, valued at approximately $14,439,195.54. This represents a 0.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Herriot Tabuteau sold 4,660 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $213.95, for a total value of $997,007.00. Following the completion of the transaction, the chief executive officer owned 7,229 shares in the company, valued at $1,546,644.55. The trade was a 39.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 200,766 shares of company stock valued at $46,685,646 in the last three months. Company insiders own 20.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wells Fargo & Company raised their target price on Axsome Therapeutics from $255.00 to $256.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Oppenheimer set a $280.00 price target on Axsome Therapeutics in a report on Monday, May 4th. HC Wainwright restated a “buy” rating and issued a $290.00 price objective on shares of Axsome Therapeutics in a research report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft set a $280.00 target price on shares of Axsome Therapeutics in a report on Tuesday, May 5th. Finally, Needham & Company LLC increased their price target on shares of Axsome Therapeutics from $267.00 to $268.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Axsome Therapeutics has an average rating of “Moderate Buy” and an average price target of $267.60.

Axsome Therapeutics Trading Up 1.2%

AXSM stock opened at $216.27 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 1.52. Axsome Therapeutics, Inc. has a 12-month low of $109.40 and a 12-month high of $260.19. The stock has a market cap of $11.33 billion, a price-to-earnings ratio of -57.67 and a beta of 0.65. The business’s 50-day moving average is $235.16 and its 200 day moving average is $205.39.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, August 10th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). The firm had revenue of $218.38 million for the quarter, compared to analyst estimates of $221.11 million. Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. On average, sell-side analysts anticipate that Axsome Therapeutics, Inc. will post -2.7 EPS for the current fiscal year.

About Axsome Therapeutics

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.