Franklin Resources Inc. Increases Stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Franklin Resources Inc. raised its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 47.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 160,534 shares of the company's stock after purchasing an additional 51,696 shares during the quarter. Franklin Resources Inc. owned 0.33% of Axsome Therapeutics worth $13,713,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC boosted its stake in Axsome Therapeutics by 20.6% during the third quarter. FMR LLC now owns 1,088,087 shares of the company's stock worth $97,786,000 after buying an additional 185,951 shares during the period. Geode Capital Management LLC grew its holdings in Axsome Therapeutics by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 908,459 shares of the company's stock valued at $81,659,000 after purchasing an additional 23,564 shares during the last quarter. Wellington Management Group LLP raised its position in Axsome Therapeutics by 1.1% in the 3rd quarter. Wellington Management Group LLP now owns 742,745 shares of the company's stock worth $66,750,000 after purchasing an additional 8,125 shares during the period. Millennium Management LLC lifted its stake in Axsome Therapeutics by 1.4% in the second quarter. Millennium Management LLC now owns 739,819 shares of the company's stock worth $59,555,000 after purchasing an additional 10,401 shares during the last quarter. Finally, Hood River Capital Management LLC boosted its position in shares of Axsome Therapeutics by 5.4% during the second quarter. Hood River Capital Management LLC now owns 549,066 shares of the company's stock valued at $44,200,000 after buying an additional 28,316 shares during the period. 81.49% of the stock is owned by hedge funds and other institutional investors.

Axsome Therapeutics Stock Up 1.1 %

Axsome Therapeutics stock traded up $0.99 during midday trading on Friday, reaching $90.73. The company's stock had a trading volume of 956,380 shares, compared to its average volume of 610,942. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. The stock has a market capitalization of $4.40 billion, a P/E ratio of -13.89 and a beta of 1.18. The stock's 50-day simple moving average is $93.65 and its 200-day simple moving average is $87.87. Axsome Therapeutics, Inc. has a 52-week low of $64.11 and a 52-week high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $104.76 million during the quarter, compared to analyst estimates of $98.71 million. During the same period last year, the firm posted ($1.32) EPS. On average, sell-side analysts expect that Axsome Therapeutics, Inc. will post -4.6 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AXSM shares. HC Wainwright reiterated a "buy" rating and issued a $180.00 price target on shares of Axsome Therapeutics in a report on Monday, November 25th. Needham & Company LLC reiterated a "buy" rating and set a $130.00 target price on shares of Axsome Therapeutics in a research report on Tuesday, November 12th. Robert W. Baird upped their price target on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Cantor Fitzgerald reiterated an "overweight" rating and set a $121.00 price objective on shares of Axsome Therapeutics in a report on Thursday, December 12th. Finally, 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 research report on Friday, October 4th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $125.93.

Axsome Therapeutics Company 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.