Intech Investment Management LLC Acquires 5,087 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Intech Investment Management LLC increased its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 46.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,028 shares of the company's stock after buying an additional 5,087 shares during the quarter. Intech Investment Management LLC's holdings in Axsome Therapeutics were worth $1,356,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Axsome Therapeutics in the 3rd quarter valued at approximately $830,000. Moors & Cabot Inc. purchased a new stake in shares of Axsome Therapeutics during the third quarter worth about $200,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Axsome Therapeutics in the 3rd quarter valued at about $585,000. Charles Schwab Investment Management Inc. lifted its position in shares of Axsome Therapeutics by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 322,596 shares of the company's stock worth $28,992,000 after buying an additional 12,778 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its holdings in shares of Axsome Therapeutics by 11.0% during the third quarter. Loomis Sayles & Co. L P now owns 298,586 shares of the company's stock valued at $26,834,000 after acquiring an additional 29,497 shares during the period. Hedge funds and other institutional investors own 81.49% of the company's stock.

Insider Activity at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the sale, the chief financial officer now owns 42,187 shares in the company, valued at approximately $5,529,450.09. This represents a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 22.40% of the stock is owned by corporate insiders.

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Axsome Therapeutics Price Performance

Shares of AXSM stock traded down $1.20 during trading hours on Wednesday, reaching $119.16. The company's stock had a trading volume of 673,459 shares, compared to its average volume of 638,950. The firm's 50 day simple moving average is $118.07 and its 200-day simple moving average is $100.65. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of -19.89 and a beta of 1.00. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. Axsome Therapeutics, Inc. has a fifty-two week low of $64.11 and a fifty-two week high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly 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 return on equity of 223.51% and a negative net margin of 74.47%. The firm had revenue of $118.77 million for the quarter, compared to analyst estimates of $117.83 million. Sell-side analysts forecast that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AXSM. William Blair reaffirmed an "outperform" rating on shares of Axsome Therapeutics in a research report on Tuesday, February 18th. Royal Bank of Canada lifted their price objective on shares of Axsome Therapeutics from $143.00 to $192.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Leerink Partners increased their price target on Axsome Therapeutics from $110.00 to $150.00 and gave the company an "outperform" rating in a report on Monday, February 10th. Needham & Company LLC reissued a "buy" rating and set a $153.00 price objective on shares of Axsome Therapeutics in a research report on Monday, March 3rd. Finally, Morgan Stanley increased their price target on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $167.36.

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.