LPL Financial LLC Raises Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

LPL Financial LLC increased its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 47.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,209 shares of the company's stock after purchasing an additional 7,837 shares during the period. LPL Financial LLC's holdings in Axsome Therapeutics were worth $2,048,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AXSM. Principal Financial Group Inc. grew its holdings in shares of Axsome Therapeutics by 6,002.7% during the fourth quarter. Principal Financial Group Inc. now owns 207,065 shares of the company's stock valued at $17,520,000 after buying an additional 203,672 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Axsome Therapeutics in the fourth quarter worth $14,771,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Axsome Therapeutics during the fourth quarter valued at $6,219,000. abrdn plc boosted its position in shares of Axsome Therapeutics by 553.3% during the fourth quarter. abrdn plc now owns 72,179 shares of the company's stock valued at $6,107,000 after buying an additional 61,131 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in Axsome Therapeutics by 47.5% in the 3rd quarter. Franklin Resources Inc. now owns 160,534 shares of the company's stock worth $13,713,000 after buying an additional 51,696 shares in the last quarter. 81.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Axsome Therapeutics in a report on Monday, April 7th. They set a "buy" rating and a $200.00 price target on the stock. Mizuho increased their price target on Axsome Therapeutics from $212.00 to $216.00 and gave the company an "outperform" rating in a report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft initiated coverage on Axsome Therapeutics in a research note on Tuesday, February 11th. They issued a "buy" rating and a $176.00 price target on the stock. Needham & Company LLC reissued a "buy" rating and issued a $153.00 target price on shares of Axsome Therapeutics in a report on Tuesday, April 1st. Finally, Leerink Partners upped their price target on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the company an "outperform" rating in a research report on Monday, February 10th. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, Axsome Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $169.80.

Axsome Therapeutics Price Performance

AXSM traded down $0.01 on Friday, hitting $104.46. 486,786 shares of the company's stock traded hands, compared to its average volume of 681,903. Axsome Therapeutics, Inc. has a one year low of $64.11 and a one year high of $139.13. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of -17.44 and a beta of 0.88. The company's 50 day simple moving average is $118.71 and its 200-day simple moving average is $102.30.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported ($0.96) 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 firm had revenue of $118.77 million for the quarter, compared to the consensus estimate of $117.83 million. As a group, research analysts anticipate 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 Axsome Therapeutics stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the sale, the chief financial officer now directly owns 42,187 shares of the company's stock, valued at approximately $5,529,450.09. The trade was a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 22.40% of the company's stock.

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.