Loomis Sayles & Co. L P grew its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 11.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 298,586 shares of the company's stock after buying an additional 29,497 shares during the period. Loomis Sayles & Co. L P owned 0.63% of Axsome Therapeutics worth $26,834,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of AXSM. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Axsome Therapeutics during the second quarter worth about $27,000. EntryPoint Capital LLC bought a new stake in Axsome Therapeutics in the 1st quarter valued at about $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Axsome Therapeutics in the 2nd quarter valued at approximately $47,000. Russell Investments Group Ltd. grew its position in Axsome Therapeutics by 5,550.0% in the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company's stock valued at $63,000 after buying an additional 777 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Axsome Therapeutics by 22.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company's stock valued at $156,000 after acquiring an additional 318 shares during the period. 81.49% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on AXSM. StockNews.com upgraded Axsome Therapeutics from a "sell" rating to a "hold" rating in a report on Wednesday, November 20th. Needham & Company LLC reissued a "buy" rating and issued a $130.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, November 12th. Bank of America raised Axsome Therapeutics from a "neutral" rating to a "buy" rating and raised their target price for the company from $95.00 to $106.00 in a report on Tuesday, August 6th. HC Wainwright reiterated a "buy" rating and issued a $180.00 target price on shares of Axsome Therapeutics in a research note on Monday. Finally, Robert W. Baird raised their price objective 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. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Axsome Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $124.93.
Read Our Latest Report on AXSM
Axsome Therapeutics Stock Down 0.5 %
Shares of Axsome Therapeutics stock traded down $0.47 on Tuesday, hitting $97.03. The company had a trading volume of 557,811 shares, compared to its average volume of 619,844. The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of -14.93 and a beta of 1.26. The stock has a 50 day moving average of $91.09 and a 200-day moving average of $85.30. Axsome Therapeutics, Inc. has a 1 year low of $61.14 and a 1 year high of $105.00. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44.
Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $104.76 million for the quarter, compared to analysts' expectations of $98.71 million. During the same quarter in the previous year, the firm posted ($1.32) EPS. As a group, sell-side analysts forecast that Axsome Therapeutics, Inc. will post -4.75 earnings per share for the current year.
Insider Activity at Axsome Therapeutics
In related news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction dated 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 completion of the sale, the director now directly owns 10,002 shares in the company, valued at $913,282.62. This represents a 52.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 22.40% of the stock is owned by corporate insiders.
About Axsome Therapeutics
(
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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