Royce & Associates LP Raises Holdings in Axsome Therapeutics, Inc. $AXSM

Royce & Associates LP raised its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 67.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 94,017 shares of the company’s stock after buying an additional 37,981 shares during the quarter. Royce & Associates LP’s holdings in Axsome Therapeutics were worth $17,171,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Sectoral Asset Management Inc. increased its stake in shares of Axsome Therapeutics by 70.6% in the 4th quarter. Sectoral Asset Management Inc. now owns 1,740 shares of the company’s stock worth $318,000 after acquiring an additional 720 shares during the last quarter. Legato Capital Management LLC increased its stake in shares of Axsome Therapeutics by 90.6% in the 4th quarter. Legato Capital Management LLC now owns 9,627 shares of the company’s stock worth $1,758,000 after acquiring an additional 4,576 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new stake in shares of Axsome Therapeutics in the 4th quarter worth $91,000. Global Retirement Partners LLC increased its stake in shares of Axsome Therapeutics by 405.9% in the 4th quarter. Global Retirement Partners LLC now owns 430 shares of the company’s stock worth $79,000 after acquiring an additional 345 shares during the last quarter. Finally, Fortis Group Advisors LLC acquired a new stake in shares of Axsome Therapeutics in the 4th quarter worth $203,000. 81.49% of the stock is owned by institutional investors and hedge funds.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock opened at $234.20 on Wednesday. The business has a 50-day moving average of $191.04 and a 200 day moving average of $173.49. Axsome Therapeutics, Inc. has a 12 month low of $96.09 and a 12 month high of $238.56. The stock has a market capitalization of $12.05 billion, a price-to-earnings ratio of -62.79 and a beta of 0.59. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, May 4th. The company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The firm had revenue of $191.20 million for the quarter, compared to analysts’ expectations of $191.10 million. The business’s revenue for the quarter was up 57.4% on a year-over-year basis. As a group, sell-side analysts forecast that Axsome Therapeutics, Inc. will post -2.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AXSM has been the subject of a number of recent research reports. Oppenheimer set a $280.00 target price on Axsome Therapeutics in a research note on Monday, May 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Monday, April 20th. Morgan Stanley raised their target price on Axsome Therapeutics from $217.00 to $242.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 5th. Wolfe Research initiated coverage on Axsome Therapeutics in a research note on Monday, February 23rd. They issued an “outperform” rating and a $230.00 target price for the company. Finally, Needham & Company LLC raised their target price on Axsome Therapeutics from $225.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $251.26.

Insider Activity at Axsome Therapeutics

In related news, insider Ari Maizel sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $182.42, for a total transaction of $1,368,150.00. Following the completion of the transaction, the insider directly owned 7,500 shares in the company, valued at $1,368,150. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Mark L. Jacobson sold 35,378 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $161.88, for a total value of $5,726,990.64. The SEC filing for this sale provides additional information. Insiders sold 72,628 shares of company stock worth $12,205,662 in the last three months. 20.60% of the stock is owned by company insiders.

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.