JPMorgan Chase & Co. Raises Stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

JPMorgan Chase & Co. increased its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 14.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 212,110 shares of the company's stock after buying an additional 27,534 shares during the quarter. JPMorgan Chase & Co. owned about 0.44% of Axsome Therapeutics worth $19,062,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in AXSM. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Axsome Therapeutics during the second quarter worth about $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Axsome Therapeutics during the 2nd quarter worth approximately $47,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Axsome Therapeutics by 22.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company's stock valued at $156,000 after purchasing an additional 318 shares during the last quarter. Moors & Cabot Inc. acquired a new position in shares of Axsome Therapeutics in the third quarter valued at approximately $200,000. Finally, Whalen Wealth Management Inc. purchased a new stake in shares of Axsome Therapeutics during the third quarter worth approximately $236,000. Institutional investors and hedge funds own 81.49% of the company's stock.

Axsome Therapeutics Price Performance

AXSM traded down $2.52 during midday trading on Friday, reaching $80.05. 1,207,912 shares of the company's stock were exchanged, compared to its average volume of 881,185. Axsome Therapeutics, Inc. has a 1-year low of $64.11 and a 1-year high of $105.00. The stock has a market capitalization of $3.88 billion, a PE ratio of -12.26 and a beta of 1.04. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. The business's 50-day moving average price is $92.35 and its 200 day moving average price is $88.99.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.38) by $0.04. The firm had revenue of $104.76 million during the quarter, compared to the consensus estimate of $98.71 million. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. During the same period in the previous year, the firm posted ($1.32) EPS. As a group, equities analysts anticipate that Axsome Therapeutics, Inc. will post -4.6 EPS for the current fiscal year.

Analysts Set New Price Targets

AXSM has been the topic of a number of analyst reports. Mizuho lowered their price objective on shares of Axsome Therapeutics from $124.00 to $122.00 and set an "outperform" rating on the stock in a research report on Tuesday, December 31st. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $121.00 target price on shares of Axsome Therapeutics in a report on Thursday, December 12th. StockNews.com upgraded shares of Axsome Therapeutics from a "sell" rating to a "hold" rating in a research note on Wednesday, November 20th. Robert W. Baird raised their price objective on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada lifted their price objective on Axsome Therapeutics from $130.00 to $131.00 and gave the company an "outperform" rating in a report on Friday, October 4th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $127.29.

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.