Cynosure Group LLC Buys New Shares in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Cynosure Group LLC bought a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 7,930 shares of the company's stock, valued at approximately $713,000.

Several other large investors have also made changes to their positions in AXSM. Arizona State Retirement System raised its position in Axsome Therapeutics by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 8,630 shares of the company's stock valued at $695,000 after purchasing an additional 177 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings 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 valued at $156,000 after buying an additional 318 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in Axsome Therapeutics during the 2nd quarter worth about $27,000. WCM Investment Management LLC grew its holdings in Axsome Therapeutics by 0.3% during the 3rd quarter. WCM Investment Management LLC now owns 113,692 shares of the company's stock worth $10,191,000 after acquiring an additional 347 shares during the last quarter. Finally, US Bancorp DE increased its position in Axsome Therapeutics by 0.3% in the 3rd quarter. US Bancorp DE now owns 133,126 shares of the company's stock valued at $11,964,000 after acquiring an additional 421 shares in the last quarter. Institutional investors own 81.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AXSM. UBS Group reduced their target price on shares of Axsome Therapeutics from $107.00 to $105.00 and set a "buy" rating on the stock in a research report on Tuesday, August 6th. StockNews.com raised Axsome Therapeutics from a "sell" rating to a "hold" rating in a report on Wednesday, November 20th. Needham & Company LLC reissued a "buy" rating and issued a $130.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, November 12th. Wells Fargo & Company began coverage on Axsome Therapeutics in a research note on Tuesday, September 3rd. They set an "overweight" rating and a $140.00 price target on the stock. Finally, Royal Bank of Canada lifted their price objective on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an "outperform" rating in a research report on Friday, October 4th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $124.93.

Axsome Therapeutics Trading Up 2.7 %

Shares of Axsome Therapeutics stock traded up $2.62 during trading hours on Thursday, hitting $99.65. The company's stock had a trading volume of 487,421 shares, compared to its average volume of 619,294. The company has a market capitalization of $4.83 billion, a PE ratio of -15.26 and a beta of 1.26. 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 stock has a 50 day moving average of $91.37 and a 200 day moving average of $85.57. Axsome Therapeutics, Inc. has a 12 month low of $64.11 and a 12 month high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings results 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 analysts' expectations of $98.71 million. During the same quarter in the prior year, the company earned ($1.32) earnings per share. Analysts predict that Axsome Therapeutics, Inc. will post -4.75 earnings per share for the current year.

Insider Buying and Selling at Axsome Therapeutics

In other news, Director Mark E. Saad sold 11,016 shares of the company's stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the completion of the transaction, the director now directly owns 10,002 shares of the company's stock, valued at $913,282.62. This represents a 52.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 22.40% of the company's stock.

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.