Point72 Europe London LLP Takes Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Point72 Europe London LLP acquired a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 30,741 shares of the company's stock, valued at approximately $2,475,000. Point72 Europe London LLP owned 0.06% of Axsome Therapeutics at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. EntryPoint Capital LLC bought a new stake in shares of Axsome Therapeutics during the first quarter valued at approximately $35,000. Russell Investments Group Ltd. increased its holdings in Axsome Therapeutics by 5,550.0% during the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company's stock worth $63,000 after purchasing an additional 777 shares in the last quarter. Covestor Ltd raised its position in Axsome Therapeutics by 54,750.0% in the 1st quarter. Covestor Ltd now owns 1,097 shares of the company's stock valued at $88,000 after buying an additional 1,095 shares during the last quarter. Janiczek Wealth Management LLC acquired a new position in shares of Axsome Therapeutics during the 1st quarter worth about $97,000. Finally, Natixis boosted its holdings in shares of Axsome Therapeutics by 13.6% in the 1st quarter. Natixis now owns 1,235 shares of the company's stock valued at $99,000 after buying an additional 148 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. HC Wainwright restated a "buy" rating and set a $180.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, September 5th. Bank of America upgraded Axsome Therapeutics from a "neutral" rating to a "buy" rating and lifted their price target for the company from $95.00 to $106.00 in a research note on Tuesday, August 6th. UBS Group dropped their price objective on shares of Axsome Therapeutics from $107.00 to $105.00 and set a "buy" rating for the company in a research note on Tuesday, August 6th. Wells Fargo & Company initiated coverage on Axsome Therapeutics in a research note on Tuesday, September 3rd. They set an "overweight" rating and a $140.00 price target on the stock. Finally, StockNews.com cut shares of Axsome Therapeutics from a "hold" rating to a "sell" rating in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Axsome Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $124.57.

Axsome Therapeutics Stock Performance

Shares of NASDAQ:AXSM traded down $0.28 during mid-day trading on Thursday, reaching $89.64. 222,394 shares of the company traded hands, compared to its average volume of 647,926. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.48 and a quick ratio of 2.40. Axsome Therapeutics, Inc. has a 52 week low of $55.02 and a 52 week high of $98.40. The firm has a market cap of $4.26 billion, a PE ratio of -14.12 and a beta of 1.25. The company's 50 day moving average price is $88.35 and its 200-day moving average price is $80.00.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its earnings results on Monday, August 5th. The company reported ($1.24) EPS for the quarter, topping analysts' consensus estimates of ($1.30) by $0.06. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%. The company had revenue of $87.17 million for the quarter, compared to the consensus estimate of $84.53 million. On average, equities analysts expect that Axsome Therapeutics, Inc. will post -4.73 EPS for the current fiscal year.

Insider Activity

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the transaction, the director now directly owns 10,002 shares in the company, valued at approximately $913,282.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO Mark L. Jacobson sold 47,739 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the sale, the chief operating officer now directly owns 5,783 shares of the company's stock, valued at $487,275.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark E. Saad sold 11,016 shares of Axsome Therapeutics stock in a transaction on Wednesday, September 11th. The shares were 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 approximately $913,282.62. The disclosure for this sale can be found here. Insiders own 22.40% of the company's stock.

Axsome Therapeutics 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.