Principal Financial Group Inc. Buys 203,672 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Principal Financial Group Inc. raised its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 6,002.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 207,065 shares of the company's stock after purchasing an additional 203,672 shares during the period. Principal Financial Group Inc. owned 0.43% of Axsome Therapeutics worth $17,520,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. FMR LLC grew its holdings in Axsome Therapeutics by 20.6% during the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company's stock worth $97,786,000 after acquiring an additional 185,951 shares during the period. Geode Capital Management LLC grew its holdings in Axsome Therapeutics by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 908,459 shares of the company's stock worth $81,659,000 after acquiring an additional 23,564 shares during the period. Wellington Management Group LLP grew its holdings in Axsome Therapeutics by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 742,745 shares of the company's stock worth $66,750,000 after acquiring an additional 8,125 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Axsome Therapeutics by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 322,596 shares of the company's stock worth $28,992,000 after acquiring an additional 12,778 shares during the period. Finally, Loomis Sayles & Co. L P grew its holdings in Axsome Therapeutics by 11.0% during the 3rd quarter. Loomis Sayles & Co. L P now owns 298,586 shares of the company's stock worth $26,834,000 after acquiring an additional 29,497 shares during the period. 81.49% of the stock is owned by institutional investors.

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Insider Buying and Selling 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. 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 the SEC website. Company insiders own 22.40% of the company's stock.

Axsome Therapeutics Stock Up 0.9 %

AXSM stock traded up $1.13 during mid-day trading on Friday, reaching $127.54. 851,283 shares of the company traded hands, compared to its average volume of 1,080,609. The stock has a market cap of $6.22 billion, a price-to-earnings ratio of -21.29 and a beta of 1.05. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. Axsome Therapeutics, Inc. has a fifty-two week low of $64.11 and a fifty-two week high of $139.13. The firm's 50 day moving average price is $105.00 and its 200 day moving average price is $96.36.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.97) by $0.01. The business had revenue of $118.77 million during the quarter, compared to the consensus estimate of $117.83 million. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. As a group, equities research analysts predict that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AXSM has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their price target on Axsome Therapeutics from $140.00 to $160.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Needham & Company LLC increased their price target on Axsome Therapeutics from $133.00 to $153.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Leerink Partners increased their price target on Axsome Therapeutics from $110.00 to $150.00 and gave the stock an "outperform" rating in a report on Monday, February 10th. Cantor Fitzgerald restated an "overweight" rating and issued a $153.00 target price on shares of Axsome Therapeutics in a research note on Wednesday, February 19th. Finally, William Blair restated an "outperform" rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Axsome Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $165.36.

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.