Envestnet Asset Management Inc. Increases Stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Envestnet Asset Management Inc. raised its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 74.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,129 shares of the company's stock after purchasing an additional 15,047 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.07% of Axsome Therapeutics worth $2,972,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of AXSM. Assetmark Inc. purchased a new stake in shares of Axsome Therapeutics during the fourth quarter worth $52,000. R Squared Ltd purchased a new stake in Axsome Therapeutics during the 4th quarter worth about $64,000. KBC Group NV lifted its holdings in Axsome Therapeutics by 40.5% during the 4th quarter. KBC Group NV now owns 1,336 shares of the company's stock worth $113,000 after purchasing an additional 385 shares in the last quarter. Xponance Inc. boosted its stake in Axsome Therapeutics by 11.6% in the 4th quarter. Xponance Inc. now owns 2,659 shares of the company's stock worth $225,000 after purchasing an additional 277 shares during the period. Finally, Intrust Bank NA grew its holdings in Axsome Therapeutics by 6.9% during the 4th quarter. Intrust Bank NA now owns 2,823 shares of the company's stock valued at $239,000 after buying an additional 183 shares in the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Analyst Ratings Changes

A number of equities analysts have recently commented on AXSM shares. HC Wainwright restated a "buy" rating and issued a $200.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, April 3rd. Bank of America increased their price objective on Axsome Therapeutics from $143.00 to $167.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Wells Fargo & Company boosted their target price on Axsome Therapeutics from $140.00 to $160.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $153.00 price target on shares of Axsome Therapeutics in a report on Wednesday, February 19th. Finally, Robert W. Baird boosted their price objective on Axsome Therapeutics from $132.00 to $160.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $169.80.

Axsome Therapeutics Stock Performance

Axsome Therapeutics stock opened at $106.27 on Friday. The firm has a fifty day simple moving average of $115.54 and a two-hundred day simple moving average of $102.96. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. Axsome Therapeutics, Inc. has a twelve month low of $64.11 and a twelve month high of $139.13. The company has a market capitalization of $5.18 billion, a PE ratio of -17.74 and a beta of 0.88.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released 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 return on equity of 223.51% and a negative net margin of 74.47%. The company had revenue of $118.77 million during the quarter, compared to analyst estimates of $117.83 million. Research analysts expect that Axsome Therapeutics, Inc. will post -2.79 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.

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