Raymond James Financial Inc. Makes New Investment in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Raymond James Financial Inc. bought a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in Axsome Therapeutics by 14.9% in 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 in the last quarter. Strategic Financial Concepts LLC bought a new position in Axsome Therapeutics in the 4th quarter worth about $2,599,000. Intech Investment Management LLC raised its stake in shares of Axsome Therapeutics by 46.5% during the fourth quarter. Intech Investment Management LLC now owns 16,028 shares of the company's stock valued at $1,356,000 after purchasing an additional 5,087 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Axsome Therapeutics by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 328,034 shares of the company's stock valued at $27,755,000 after acquiring an additional 5,438 shares in the last quarter. Finally, Pallas Capital Advisors LLC acquired a new stake in shares of Axsome Therapeutics in the fourth quarter valued at $2,237,000. Hedge funds and other institutional investors own 81.49% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AXSM shares. Bank of America increased their target price on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Leerink Partners boosted their price target on Axsome Therapeutics from $110.00 to $150.00 and gave the company an "outperform" rating in a research note on Monday, February 10th. Mizuho increased their price objective on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the company an "outperform" rating in a research note on Thursday, March 27th. Morgan Stanley upped their price target on Axsome Therapeutics from $125.00 to $190.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $153.00 target price on shares of Axsome Therapeutics in a report on Tuesday, April 1st. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $169.80.

Axsome Therapeutics Stock Performance

Shares of AXSM stock traded up $0.43 during trading on Wednesday, hitting $104.25. The company's stock had a trading volume of 665,527 shares, compared to its average volume of 681,187. The business has a fifty day moving average of $117.03 and a 200-day moving average of $102.66. The company has a market cap of $5.08 billion, a PE ratio of -17.40 and a beta of 0.88. Axsome Therapeutics, Inc. has a 52 week low of $64.11 and a 52 week high of $139.13. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, topping analysts' consensus estimates of ($0.97) by $0.01. The company had revenue of $118.77 million for the quarter, compared to the consensus estimate 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, research analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Nick Pizzie sold 3,000 shares of the company's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the transaction, the chief financial officer now directly owns 42,187 shares in the company, valued at approximately $5,529,450.09. The trade was a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 22.40% of the stock is currently owned by insiders.

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.