Axsome Therapeutics, Inc. (NASDAQ:AXSM) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. raised its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 13.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 182,290 shares of the company's stock after buying an additional 21,756 shares during the period. Franklin Resources Inc. owned about 0.38% of Axsome Therapeutics worth $15,424,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Intrust Bank NA boosted 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 acquiring an additional 183 shares during the period. DnB Asset Management AS lifted its position in shares of Axsome Therapeutics by 1,100.7% during the fourth quarter. DnB Asset Management AS now owns 73,770 shares of the company's stock worth $6,242,000 after purchasing an additional 67,626 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of Axsome Therapeutics by 19.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 4,678 shares of the company's stock valued at $396,000 after purchasing an additional 761 shares during the period. Norges Bank acquired a new position in shares of Axsome Therapeutics in the fourth quarter valued at approximately $34,100,000. Finally, LPL Financial LLC increased its stake in Axsome Therapeutics by 47.9% during the 4th quarter. LPL Financial LLC now owns 24,209 shares of the company's stock worth $2,048,000 after buying an additional 7,837 shares during the period. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

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Axsome Therapeutics Stock Performance

Shares of AXSM traded up $2.41 during mid-day trading on Friday, reaching $98.06. 867,734 shares of the company's stock were exchanged, compared to its average volume of 678,891. The business's fifty day simple moving average is $119.51 and its 200-day simple moving average is $101.99. Axsome Therapeutics, Inc. has a 52-week low of $64.11 and a 52-week high of $139.13. The stock has a market capitalization of $4.78 billion, a PE ratio of -16.37 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.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $118.77 million for the quarter, compared to the consensus estimate of $117.83 million. On average, equities research analysts expect that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AXSM shares. Robert W. Baird boosted their price target on shares of Axsome Therapeutics from $132.00 to $160.00 and gave the stock an "outperform" rating in a research note on Monday, March 3rd. Mizuho boosted their target price on Axsome Therapeutics from $212.00 to $216.00 and gave the stock an "outperform" rating in a research note on Thursday, March 27th. Truist Financial increased their price target on Axsome Therapeutics from $190.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Axsome Therapeutics in a research note on Tuesday, February 11th. They set a "buy" rating and a $176.00 target price on the stock. Finally, Needham & Company LLC restated a "buy" rating and issued a $153.00 price objective on shares of Axsome Therapeutics in a report on Tuesday, April 1st. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $169.80.

Insider Buying and Selling

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

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.