Erste Asset Management GmbH Invests $986,000 in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Erste Asset Management GmbH acquired a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,000 shares of the company's stock, valued at approximately $986,000.

Other large investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. acquired a new position in Axsome Therapeutics during the 2nd quarter valued at $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Axsome Therapeutics in the 2nd quarter valued at $47,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Axsome Therapeutics by 22.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company's stock worth $156,000 after purchasing an additional 318 shares in the last quarter. Moors & Cabot Inc. acquired a new stake in shares of Axsome Therapeutics during the 3rd quarter worth about $200,000. Finally, Whalen Wealth Management Inc. acquired a new stake in shares of Axsome Therapeutics during the 3rd quarter worth about $236,000. 81.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AXSM shares. StockNews.com upgraded shares of Axsome Therapeutics from a "sell" rating to a "hold" rating in a research report on Wednesday, November 20th. Royal Bank of Canada increased their price objective 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. Cantor Fitzgerald reissued an "overweight" rating and set a $107.00 price objective on shares of Axsome Therapeutics in a report on Monday, September 16th. Wells Fargo & Company initiated coverage on shares of Axsome Therapeutics in a report on Tuesday, September 3rd. They set an "overweight" rating and a $140.00 price objective on the stock. Finally, Bank of America raised shares of Axsome Therapeutics from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $95.00 to $106.00 in a report on Tuesday, August 6th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, Axsome Therapeutics has an average rating of "Moderate Buy" and an average price target of $124.93.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics 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 transaction of $1,005,870.96. Following the transaction, the director now directly owns 10,002 shares in the company, valued at approximately $913,282.62. This represents a 52.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 22.40% of the stock is currently owned by company insiders.

Axsome Therapeutics Price Performance

NASDAQ AXSM traded down $0.95 during trading on Wednesday, hitting $99.54. 418,931 shares of the company's stock were exchanged, compared to its average volume of 616,077. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. The company has a market cap of $4.82 billion, a PE ratio of -15.31 and a beta of 1.18. Axsome Therapeutics, Inc. has a fifty-two week low of $64.11 and a fifty-two week high of $105.00. The stock's 50 day moving average price is $91.86 and its two-hundred day moving average price is $86.28.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The company had revenue of $104.76 million during the quarter, compared to the consensus estimate of $98.71 million. During the same quarter in the prior year, the firm posted ($1.32) earnings per share. Research analysts expect that Axsome Therapeutics, Inc. will post -4.58 EPS for the current year.

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.