Hennion & Walsh Asset Management Inc. Has $5.23 Million Stock Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Hennion & Walsh Asset Management Inc. reduced its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 10.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 58,148 shares of the company's stock after selling 6,537 shares during the period. Hennion & Walsh Asset Management Inc. owned about 0.12% of Axsome Therapeutics worth $5,226,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sofinnova Investments Inc. bought a new position in shares of Axsome Therapeutics in the second quarter valued at about $24,971,000. Tri Locum Partners LP raised its holdings in Axsome Therapeutics by 198.4% in the 2nd quarter. Tri Locum Partners LP now owns 306,513 shares of the company's stock valued at $24,674,000 after acquiring an additional 203,802 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Axsome Therapeutics in the 1st quarter valued at about $11,036,000. Hood River Capital Management LLC lifted its position in Axsome Therapeutics by 32.6% during the first quarter. Hood River Capital Management LLC now owns 520,750 shares of the company's stock worth $41,556,000 after acquiring an additional 127,997 shares during the last quarter. Finally, Affinity Asset Advisors LLC boosted its holdings in shares of Axsome Therapeutics by 179.5% during the first quarter. Affinity Asset Advisors LLC now owns 139,758 shares of the company's stock worth $11,153,000 after acquiring an additional 89,758 shares during the period. Institutional investors own 81.49% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AXSM shares. Cantor Fitzgerald reiterated an "overweight" rating and set a $107.00 target price on shares of Axsome Therapeutics in a research note on Monday, September 16th. Wells Fargo & Company assumed coverage on Axsome Therapeutics in a report on Tuesday, September 3rd. They set an "overweight" rating and a $140.00 target price for the company. Royal Bank of Canada raised their price target 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. StockNews.com raised shares of Axsome Therapeutics from a "sell" rating to a "hold" rating in a report on Tuesday, October 1st. Finally, UBS Group lowered their target price on shares of Axsome Therapeutics from $107.00 to $105.00 and set a "buy" rating on the stock in a report on Tuesday, August 6th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $124.64.

Axsome Therapeutics Price Performance

NASDAQ:AXSM traded down $3.49 on Thursday, hitting $88.83. The company had a trading volume of 437,134 shares, compared to its average volume of 626,970. Axsome Therapeutics, Inc. has a 52 week low of $55.02 and a 52 week high of $98.40. The company has a current ratio of 2.48, a quick ratio of 2.40 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of -14.00 and a beta of 1.26. The firm has a 50 day moving average of $89.95 and a two-hundred day moving average of $81.90.

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

Insider Activity

In related news, Director Mark E. Saad sold 11,016 shares of the firm's stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total value of $1,005,870.96. Following the completion of the transaction, the director now owns 10,002 shares in the company, valued at $913,282.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total value 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Mark L. Jacobson sold 47,739 shares of the firm's stock in a transaction on Friday, August 9th. The stock was sold at an average price of $84.26, for a total value of $4,022,488.14. Following the transaction, the chief operating officer now directly owns 5,783 shares of the company's stock, valued at approximately $487,275.58. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.