Iridian Asset Management LLC CT Has $10.15 Million Holdings in Axsome Therapeutics, Inc. $AXSM

Iridian Asset Management LLC CT reduced its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 8.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,553 shares of the company’s stock after selling 8,208 shares during the period. Axsome Therapeutics makes up about 4.0% of Iridian Asset Management LLC CT’s investment portfolio, making the stock its 10th largest position. Iridian Asset Management LLC CT’s holdings in Axsome Therapeutics were worth $10,148,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Ameritas Advisory Services LLC bought a new position in shares of Axsome Therapeutics during the 2nd quarter valued at about $77,000. Assetmark Inc. raised its holdings in shares of Axsome Therapeutics by 13.9% in the 2nd quarter. Assetmark Inc. now owns 1,124 shares of the company’s stock worth $117,000 after purchasing an additional 137 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in Axsome Therapeutics during the third quarter valued at approximately $129,000. Allworth Financial LP boosted its holdings in Axsome Therapeutics by 361.8% during the second quarter. Allworth Financial LP now owns 1,353 shares of the company’s stock worth $141,000 after buying an additional 1,060 shares in the last quarter. Finally, Financial Consulate Inc. acquired a new position in Axsome Therapeutics in the third quarter worth approximately $148,000. 81.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AXSM shares. Royal Bank Of Canada increased their price objective on Axsome Therapeutics from $189.00 to $198.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. HC Wainwright boosted their target price on Axsome Therapeutics from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. Needham & Company LLC reiterated a “buy” rating and issued a $225.00 price target on shares of Axsome Therapeutics in a research report on Monday, January 5th. Mizuho set a $217.00 price target on Axsome Therapeutics in a research note on Wednesday, December 31st. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $220.00 price objective on shares of Axsome Therapeutics in a research note on Wednesday, December 31st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $192.35.

Axsome Therapeutics Stock Up 1.1%

NASDAQ:AXSM opened at $169.38 on Monday. Axsome Therapeutics, Inc. has a 1-year low of $79.19 and a 1-year high of $184.40. The firm has a market capitalization of $8.54 billion, a price-to-earnings ratio of -36.27, a PEG ratio of 8.97 and a beta of 0.44. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 1.66. The business’s fifty day moving average price is $150.91 and its 200 day moving average price is $128.16.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Monday, November 3rd. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.12). The business had revenue of $170.99 million during the quarter, compared to analyst estimates of $162.96 million. Axsome Therapeutics had a negative net margin of 40.90% and a negative return on equity of 277.31%. The company’s revenue for the quarter was up 63.2% on a year-over-year basis. On average, sell-side analysts forecast that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Axsome Therapeutics news, Director Mark E. Saad sold 37,577 shares of the company’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $165.18, for a total value of $6,206,968.86. Following the transaction, the director directly owned 10,002 shares of the company’s stock, valued at $1,652,130.36. This represents a 78.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Herriot Tabuteau sold 31,261 shares of Axsome Therapeutics stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $170.38, for a total value of $5,326,249.18. Following the sale, the chief executive officer owned 7,229 shares of the company’s stock, valued at approximately $1,231,677.02. This represents a 81.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 420,903 shares of company stock valued at $63,552,838. Insiders own 22.30% of the company’s stock.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.