FMR LLC grew its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 20.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,088,087 shares of the company's stock after buying an additional 185,951 shares during the period. FMR LLC owned approximately 2.29% of Axsome Therapeutics worth $97,786,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in AXSM. Northwestern Mutual Wealth Management Co. bought a new stake in Axsome Therapeutics during the second quarter valued at about $27,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Axsome Therapeutics during the 2nd quarter valued at approximately $47,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Axsome Therapeutics by 22.4% in the 3rd 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. Moors & Cabot Inc. bought a new position in Axsome Therapeutics in the 3rd quarter worth approximately $200,000. Finally, Whalen Wealth Management Inc. acquired a new position in shares of Axsome Therapeutics during the third quarter worth approximately $236,000. Institutional investors own 81.49% of the company's stock.
Insider Buying and Selling
In related news, Director Mark E. Saad sold 11,016 shares of Axsome Therapeutics stock in a transaction dated 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 transaction, the director now directly owns 10,002 shares of the company's stock, valued at $913,282.62. The trade was a 52.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 22.40% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the stock. Royal Bank of Canada boosted their target price on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an "outperform" rating in a research report on Friday, October 4th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $107.00 price objective on shares of Axsome Therapeutics in a research report on Monday, September 16th. Needham & Company LLC reiterated a "buy" rating and issued a $130.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, November 12th. Robert W. Baird upped their price target on Axsome Therapeutics from $112.00 to $116.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Finally, StockNews.com upgraded Axsome Therapeutics from a "sell" rating to a "hold" rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $124.93.
View Our Latest Report on AXSM
Axsome Therapeutics Price Performance
Shares of NASDAQ:AXSM traded up $1.75 on Friday, hitting $100.10. The stock had a trading volume of 346,631 shares, compared to its average volume of 613,440. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of -15.06 and a beta of 1.18. 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 price is $92.23 and its 200-day moving average price is $86.45. Axsome Therapeutics, Inc. has a twelve month low of $64.11 and a twelve month high of $105.00.
Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, topping the consensus estimate of ($1.38) by $0.04. The firm had revenue of $104.76 million for the quarter, compared to analysts' expectations of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same period in the prior year, the firm earned ($1.32) earnings per share. On average, equities research analysts predict that Axsome Therapeutics, Inc. will post -4.58 earnings per share for the current year.
Axsome Therapeutics Company Profile
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Free Report)
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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