Axsome Therapeutics, Inc. $AXSM Position Boosted by Eventide Asset Management LLC

Eventide Asset Management LLC lifted its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 2.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 746,398 shares of the company’s stock after purchasing an additional 20,726 shares during the period. Axsome Therapeutics comprises 1.5% of Eventide Asset Management LLC’s holdings, making the stock its 14th biggest holding. Eventide Asset Management LLC’s holdings in Axsome Therapeutics were worth $90,638,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Axsome Therapeutics by 6.0% during the third quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company’s stock valued at $507,739,000 after purchasing an additional 235,626 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Axsome Therapeutics by 84.1% during the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock worth $162,082,000 after buying an additional 609,516 shares in the last quarter. Invesco Ltd. grew its position in Axsome Therapeutics by 73.3% in the third quarter. Invesco Ltd. now owns 990,557 shares of the company’s stock worth $120,303,000 after buying an additional 419,008 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Axsome Therapeutics by 5.8% in the second quarter. Geode Capital Management LLC now owns 989,453 shares of the company’s stock valued at $103,303,000 after buying an additional 54,600 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Axsome Therapeutics by 5.8% in the second quarter. State Street Corp now owns 958,503 shares of the company’s stock valued at $100,058,000 after buying an additional 52,483 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Truist Financial set a $200.00 price objective on Axsome Therapeutics in a research report on Monday, February 23rd. UBS Group boosted their target price on Axsome Therapeutics from $248.00 to $251.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Wells Fargo & Company upped their target price on Axsome Therapeutics from $193.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, February 24th. Mizuho set a $230.00 price target on Axsome Therapeutics in a research report on Thursday, February 19th. Finally, TD Cowen reiterated a “buy” rating on shares of Axsome Therapeutics in a research report on Monday, February 23rd. Seventeen research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $216.12.

Insiders Place Their Bets

In other news, CFO Nick Pizzie sold 12,000 shares of the firm’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $187.92, for a total value of $2,255,040.00. Following the completion of the sale, the chief financial officer owned 42,588 shares of the company’s stock, valued at $8,003,136.96. This trade represents a 21.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Herriot Tabuteau sold 32,410 shares of Axsome Therapeutics stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $185.60, for a total value of $6,015,296.00. Following the transaction, the chief executive officer owned 7,229 shares in the company, valued at $1,341,702.40. This represents a 81.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 289,279 shares of company stock valued at $49,496,963 over the last quarter. 22.30% of the stock is owned by insiders.

Axsome Therapeutics Trading Up 1.3%

Axsome Therapeutics stock opened at $156.08 on Friday. Axsome Therapeutics, Inc. has a 52 week low of $86.99 and a 52 week high of $191.50. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.48 and a current ratio of 1.55. The firm has a market capitalization of $7.98 billion, a price-to-earnings ratio of -42.30 and a beta of 0.43. The company has a 50 day moving average price of $175.92 and a 200 day moving average price of $149.70.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, February 23rd. The company reported ($0.56) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.70) by $0.14. The company had revenue of $196.00 million for the quarter, compared to the consensus estimate of $191.33 million. Axsome Therapeutics had a negative net margin of 28.69% and a negative return on equity of 232.61%. Axsome Therapeutics’s revenue for the quarter was up 65.0% on a year-over-year basis. Research analysts forecast that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Axsome Therapeutics 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.