DnB Asset Management AS Acquires 67,626 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

DnB Asset Management AS raised its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 1,100.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 73,770 shares of the company's stock after purchasing an additional 67,626 shares during the period. DnB Asset Management AS owned approximately 0.15% of Axsome Therapeutics worth $6,242,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Axsome Therapeutics by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 322,596 shares of the company's stock worth $28,992,000 after purchasing an additional 12,778 shares during the period. FMR LLC increased its holdings in Axsome Therapeutics by 20.6% during the third quarter. FMR LLC now owns 1,088,087 shares of the company's stock worth $97,786,000 after buying an additional 185,951 shares during the last quarter. BNP Paribas Financial Markets raised its position in Axsome Therapeutics by 71.7% in the third quarter. BNP Paribas Financial Markets now owns 13,733 shares of the company's stock worth $1,234,000 after acquiring an additional 5,737 shares during the period. Captrust Financial Advisors purchased a new position in Axsome Therapeutics in the third quarter valued at about $514,000. Finally, Fred Alger Management LLC bought a new position in shares of Axsome Therapeutics during the 3rd quarter valued at approximately $851,000. Institutional investors and hedge funds own 81.49% of the company's stock.

Insider Activity

In related news, CFO Nick Pizzie sold 3,000 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the transaction, the chief financial officer now owns 42,187 shares of the company's stock, valued at $5,529,450.09. This represents a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 22.40% of the company's stock.

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Axsome Therapeutics Price Performance

Shares of NASDAQ:AXSM traded down $9.03 on Friday, hitting $98.86. The company's stock had a trading volume of 990,570 shares, compared to its average volume of 663,752. The company has a market capitalization of $4.82 billion, a PE ratio of -16.50 and a beta of 0.88. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04. The company has a 50-day simple moving average of $120.62 and a 200 day simple moving average of $101.67. Axsome Therapeutics, Inc. has a 1 year low of $64.11 and a 1 year high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, beating analysts' consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The business had revenue of $118.77 million for the quarter, compared to the consensus estimate of $117.83 million. Sell-side analysts forecast that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. HC Wainwright restated a "buy" rating and issued a $200.00 target price on shares of Axsome Therapeutics in a research note on Thursday. William Blair restated an "outperform" rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. Royal Bank of Canada lifted their target price on shares of Axsome Therapeutics from $143.00 to $192.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Wells Fargo & Company raised their price objective on shares of Axsome Therapeutics from $140.00 to $160.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Axsome Therapeutics in a research note on Tuesday, February 11th. They issued a "buy" rating and a $176.00 price objective for the company. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $167.64.

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.