Axsome Therapeutics, Inc. (NASDAQ:AXSM) Holdings Lowered by State Street Corp

State Street Corp reduced its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 916,808 shares of the company's stock after selling 21,695 shares during the period. State Street Corp owned approximately 1.89% of Axsome Therapeutics worth $82,394,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. PDT Partners LLC acquired a new position in shares of Axsome Therapeutics in the third quarter worth about $1,052,000. BNP Paribas Financial Markets raised its position in shares of Axsome Therapeutics by 71.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,733 shares of the company's stock valued at $1,234,000 after purchasing an additional 5,737 shares in the last quarter. XTX Topco Ltd raised its position in shares of Axsome Therapeutics by 177.9% in the 2nd quarter. XTX Topco Ltd now owns 11,205 shares of the company's stock valued at $902,000 after purchasing an additional 7,173 shares in the last quarter. Erste Asset Management GmbH purchased a new position in shares of Axsome Therapeutics during the 3rd quarter valued at approximately $986,000. Finally, Captrust Financial Advisors acquired a new stake in shares of Axsome Therapeutics during the third quarter worth approximately $514,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Royal Bank of Canada increased their price objective on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an "outperform" rating in a research note on Friday, October 4th. Robert W. Baird increased their price target on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Wells Fargo & Company began coverage on Axsome Therapeutics in a report on Tuesday, September 3rd. They issued an "overweight" rating and a $140.00 price objective for the company. Needham & Company LLC restated a "buy" rating and set a $130.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, November 12th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $121.00 target price on shares of Axsome Therapeutics in a research report on Thursday, December 12th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Axsome Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $125.93.

Axsome Therapeutics Price Performance

AXSM stock traded up $3.83 during trading hours on Tuesday, hitting $93.51. 513,375 shares of the stock traded hands, compared to its average volume of 610,272. The stock has a 50-day simple moving average of $93.14 and a 200 day simple moving average of $87.58. The company has a market cap of $4.53 billion, a P/E ratio of -14.21 and a beta of 1.18. Axsome Therapeutics, Inc. has a one year low of $64.11 and a one year high of $105.00. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97.

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