Royce & Associates LP Has $2.02 Million Stock Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Royce & Associates LP grew its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 73.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,500 shares of the company's stock after purchasing an additional 9,500 shares during the period. Royce & Associates LP's holdings in Axsome Therapeutics were worth $2,022,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. acquired a new stake in Axsome Therapeutics during the 2nd quarter worth $27,000. EntryPoint Capital LLC acquired a new stake in shares of Axsome Therapeutics during the first quarter worth about $35,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Axsome Therapeutics during the 2nd quarter valued at about $47,000. Russell Investments Group Ltd. grew its position in shares of Axsome Therapeutics by 5,550.0% in the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company's stock valued at $63,000 after purchasing an additional 777 shares during the period. Finally, Covestor Ltd increased its stake in Axsome Therapeutics by 54,750.0% during the 1st quarter. Covestor Ltd now owns 1,097 shares of the company's stock worth $88,000 after purchasing an additional 1,095 shares in the last quarter. 81.49% of the stock is owned by institutional investors.

Insider Transactions at Axsome Therapeutics

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 sale, the director now owns 10,002 shares in the company, valued at approximately $913,282.62. This represents a 52.41 % decrease in their position. The transaction 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 corporate insiders.

Analyst Upgrades and Downgrades

AXSM has been the topic of a number of research reports. Bank of America raised shares of Axsome Therapeutics from a "neutral" rating to a "buy" rating and lifted their price target for the company from $95.00 to $106.00 in a research note on Tuesday, August 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $130.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, November 12th. Wells Fargo & Company initiated 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. HC Wainwright restated a "buy" rating and issued a $180.00 price target on shares of Axsome Therapeutics in a report on Thursday, September 5th. Finally, Robert W. Baird upped their price objective on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, Axsome Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $124.93.

Axsome Therapeutics Stock Up 1.2 %

Shares of NASDAQ AXSM traded up $1.12 during trading hours on Wednesday, hitting $96.58. The company had a trading volume of 82,941 shares, compared to its average volume of 618,658. Axsome Therapeutics, Inc. has a 1-year low of $58.61 and a 1-year high of $105.00. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. The firm's 50 day moving average is $90.69 and its 200-day moving average is $84.69. The stock has a market capitalization of $4.68 billion, a P/E ratio of -14.79 and a beta of 1.26.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, beating analysts' consensus estimates of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The company had revenue of $104.76 million during the quarter, compared to the consensus estimate of $98.71 million. During the same quarter last year, the firm posted ($1.32) EPS. On average, analysts expect that Axsome Therapeutics, Inc. will post -4.75 earnings per share for the current fiscal year.

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.