Norges Bank Purchases Shares of 403,026 Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Norges Bank acquired a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 403,026 shares of the company's stock, valued at approximately $34,100,000. Norges Bank owned about 0.83% of Axsome Therapeutics as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Meridian Wealth Management LLC lifted its stake in shares of Axsome Therapeutics by 0.7% in the fourth quarter. Meridian Wealth Management LLC now owns 21,171 shares of the company's stock valued at $1,791,000 after buying an additional 150 shares in the last quarter. Arizona State Retirement System increased its holdings in Axsome Therapeutics by 1.8% during the fourth quarter. Arizona State Retirement System now owns 9,054 shares of the company's stock worth $766,000 after buying an additional 164 shares during the last quarter. Xponance Inc. increased its holdings in Axsome Therapeutics by 11.6% during the fourth quarter. Xponance Inc. now owns 2,659 shares of the company's stock worth $225,000 after buying an additional 277 shares during the last quarter. KBC Group NV increased its holdings in Axsome Therapeutics by 40.5% during the fourth quarter. KBC Group NV now owns 1,336 shares of the company's stock worth $113,000 after buying an additional 385 shares during the last quarter. Finally, Assetmark Inc. purchased a new stake in Axsome Therapeutics during the fourth quarter worth about $52,000. 81.49% of the stock is owned by institutional investors.

Axsome Therapeutics Trading Down 4.9 %

Shares of NASDAQ:AXSM traded down $4.96 on Thursday, hitting $96.71. The company had a trading volume of 140,115 shares, compared to its average volume of 934,823. Axsome Therapeutics, Inc. has a 1 year low of $64.11 and a 1 year high of $139.13. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of -16.15 and a beta of 0.88. The firm's 50-day simple moving average is $120.05 and its two-hundred day simple moving average is $101.90. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22.

Remove Ads

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $117.83 million. Equities analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the transaction, the chief financial officer now owns 42,187 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available through the SEC website. 22.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Royal Bank of Canada lifted their target price on shares of Axsome Therapeutics from $143.00 to $192.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. William Blair reissued an "outperform" rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. Truist Financial lifted their price target on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company lifted their price target on shares of Axsome Therapeutics from $140.00 to $160.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $169.80.

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.