Raymond James Financial Inc. Purchases Shares of 174,586 Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Raymond James Financial Inc. bought a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 174,586 shares of the company's stock, valued at approximately $14,771,000. Raymond James Financial Inc. owned 0.36% of Axsome Therapeutics at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in AXSM. JPMorgan Chase & Co. raised its stake in shares of Axsome Therapeutics by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company's stock valued at $19,062,000 after purchasing an additional 27,534 shares during the period. Strategic Financial Concepts LLC purchased a new position in Axsome Therapeutics during the fourth quarter worth about $2,599,000. PDT Partners LLC purchased a new position in shares of Axsome Therapeutics in the 3rd quarter worth about $1,052,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Axsome Therapeutics by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 328,034 shares of the company's stock worth $27,755,000 after purchasing an additional 5,438 shares in the last quarter. Finally, Pallas Capital Advisors LLC purchased a new position in shares of Axsome Therapeutics in the 4th quarter worth about $2,237,000. 81.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on AXSM. Wells Fargo & Company increased their target price on Axsome Therapeutics from $140.00 to $160.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Mizuho increased their target price on Axsome Therapeutics from $195.00 to $212.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Royal Bank of Canada raised their price objective on Axsome Therapeutics from $143.00 to $192.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Cantor Fitzgerald reiterated an "overweight" rating and set a $153.00 target price on shares of Axsome Therapeutics in a research note on Wednesday, February 19th. Finally, Truist Financial increased their target price on Axsome Therapeutics from $190.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $167.36.

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Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the firm's stock in a transaction 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 completion of the transaction, the chief financial officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 22.40% of the company's stock.

Axsome Therapeutics Stock Performance

NASDAQ AXSM traded up $0.52 during trading hours on Friday, hitting $126.79. 789,781 shares of the stock were exchanged, compared to its average volume of 640,384. The company has a market cap of $6.18 billion, a price-to-earnings ratio of -21.17 and a beta of 0.99. Axsome Therapeutics, Inc. has a 12-month low of $64.11 and a 12-month high of $139.13. The stock has a 50-day moving average of $116.56 and a 200 day moving average of $100.10. 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 (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, beating the consensus estimate of ($0.97) by $0.01. The business had revenue of $118.77 million for the quarter, compared to analyst estimates of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. As a group, equities research analysts forecast that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

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.