Eagle Asset Management Inc. Lowers Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Eagle Asset Management Inc. lessened its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 16.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,791 shares of the company's stock after selling 15,854 shares during the quarter. Eagle Asset Management Inc. owned about 0.17% of Axsome Therapeutics worth $7,457,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Axsome Therapeutics during the 2nd quarter valued at $27,000. EntryPoint Capital LLC acquired a new stake in Axsome Therapeutics in the first quarter worth about $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Axsome Therapeutics during the second quarter worth about $47,000. Russell Investments Group Ltd. raised its position in shares of Axsome Therapeutics by 5,550.0% in the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company's stock valued at $63,000 after purchasing an additional 777 shares during the last quarter. Finally, Natixis boosted its stake in Axsome Therapeutics by 13.6% in the 1st quarter. Natixis now owns 1,235 shares of the company's stock worth $99,000 after purchasing an additional 148 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company's stock.

Insider Activity at Axsome Therapeutics

In other news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total value of $1,005,870.96. Following the completion of the sale, the director now directly owns 10,002 shares of the company's stock, valued at approximately $913,282.62. This represents a 52.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Cantor Fitzgerald reissued an "overweight" rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a report on Monday, September 16th. UBS Group reduced their price target on shares of Axsome Therapeutics from $107.00 to $105.00 and set a "buy" rating for the company in a research report on Tuesday, August 6th. Bank of America raised shares of Axsome Therapeutics from a "neutral" rating to a "buy" rating and upped their price objective for the company from $95.00 to $106.00 in a report on Tuesday, August 6th. Royal Bank of Canada raised their target price on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an "outperform" rating in a report on Friday, October 4th. Finally, Robert W. Baird increased their price target on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $124.93.

Axsome Therapeutics Stock Down 1.4 %

Shares of NASDAQ:AXSM traded down $1.37 on Monday, hitting $97.31. 396,443 shares of the company's stock were exchanged, compared to its average volume of 618,961. Axsome Therapeutics, Inc. has a 1-year low of $61.14 and a 1-year high of $105.00. The company has a market capitalization of $4.72 billion, a PE ratio of -15.25 and a beta of 1.26. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. The firm's 50-day moving average is $90.99 and its 200 day moving average is $85.13.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) EPS 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 for the quarter, compared to analyst estimates of $98.71 million. During the same period in the prior year, the firm posted ($1.32) earnings per share. Sell-side analysts predict that Axsome Therapeutics, Inc. will post -4.75 EPS for the current year.

About Axsome Therapeutics

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.