Loomis Sayles & Co. L P decreased its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 290,111 shares of the company's stock after selling 8,475 shares during the period. Loomis Sayles & Co. L P owned approximately 0.60% of Axsome Therapeutics worth $24,547,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Iron Triangle Partners LP purchased a new position in Axsome Therapeutics during the 3rd quarter valued at about $22,671,000. Principal Financial Group Inc. boosted its stake in shares of Axsome Therapeutics by 6,002.7% in the fourth quarter. Principal Financial Group Inc. now owns 207,065 shares of the company's stock worth $17,520,000 after buying an additional 203,672 shares during the last quarter. FMR LLC raised its position in Axsome Therapeutics by 20.6% during the third quarter. FMR LLC now owns 1,088,087 shares of the company's stock valued at $97,786,000 after acquiring an additional 185,951 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Axsome Therapeutics in the 4th quarter worth approximately $14,771,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Axsome Therapeutics during the 4th quarter valued at approximately $6,219,000. Hedge funds and other institutional investors own 81.49% of the company's stock.
Analysts Set New Price Targets
AXSM has been the subject of a number of analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $153.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday. Truist Financial increased their target price on Axsome Therapeutics from $190.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Morgan Stanley upped their price objective on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Bank of America boosted their target price on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Finally, Robert W. Baird lifted their price objective on Axsome Therapeutics from $132.00 to $160.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $167.64.
Get Our Latest Report on AXSM
Axsome Therapeutics Stock Down 1.7 %
Shares of NASDAQ:AXSM traded down $1.88 on Wednesday, hitting $109.79. 289,384 shares of the company's stock were exchanged, compared to its average volume of 658,823. Axsome Therapeutics, Inc. has a 1-year low of $64.11 and a 1-year high of $139.13. The company has a market capitalization of $5.35 billion, a PE ratio of -18.34 and a beta of 1.00. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. The firm's 50-day moving average is $120.47 and its 200 day moving average is $101.53.
Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, topping analysts' consensus estimates of ($0.97) by $0.01. The firm had revenue of $118.77 million during the quarter, compared to analysts' expectations of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. Sell-side analysts predict that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.
Insiders Place Their Bets
In other news, CFO Nick Pizzie sold 3,000 shares of the firm'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 value of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares of the company's stock, valued at $5,529,450.09. This trade represents a 6.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 22.40% of the stock is owned by insiders.
Axsome Therapeutics Profile
(
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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