TD Asset Management Inc Has $5.37 Million Holdings in Axsome Therapeutics, Inc. $AXSM

TD Asset Management Inc increased its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 107.7% in the third quarter, HoldingsChannel reports. The firm owned 44,192 shares of the company’s stock after purchasing an additional 22,914 shares during the period. TD Asset Management Inc’s holdings in Axsome Therapeutics were worth $5,367,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AXSM. Vanguard Group Inc. increased its holdings in shares of Axsome Therapeutics by 6.0% during the 3rd quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company’s stock valued at $507,739,000 after acquiring an additional 235,626 shares during the last quarter. Geode Capital Management LLC boosted its position in Axsome Therapeutics by 5.8% during the second quarter. Geode Capital Management LLC now owns 989,453 shares of the company’s stock worth $103,303,000 after purchasing an additional 54,600 shares during the period. State Street Corp grew its holdings in Axsome Therapeutics by 5.8% during the second quarter. State Street Corp now owns 958,503 shares of the company’s stock valued at $100,058,000 after purchasing an additional 52,483 shares during the last quarter. Bank of America Corp DE grew its holdings in Axsome Therapeutics by 41.1% during the second quarter. Bank of America Corp DE now owns 753,429 shares of the company’s stock valued at $78,650,000 after purchasing an additional 219,527 shares during the last quarter. Finally, Man Group plc raised its position in shares of Axsome Therapeutics by 2.3% in the second quarter. Man Group plc now owns 525,069 shares of the company’s stock valued at $54,812,000 after purchasing an additional 11,848 shares during the period. Institutional investors and hedge funds own 81.49% of the company’s stock.

Insider Activity at Axsome Therapeutics

In other news, Director Mark Coleman sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $161.11, for a total value of $4,027,750.00. Following the sale, the director directly owned 47,140 shares in the company, valued at approximately $7,594,725.40. This represents a 34.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Herriot Tabuteau sold 32,410 shares of the company’s 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 completion of the sale, the chief executive officer owned 7,229 shares in the company, valued at $1,341,702.40. This trade represents a 81.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 299,837 shares of company stock valued at $51,061,447. Corporate insiders own 22.40% of the company’s stock.

Wall Street Analysts Forecast Growth

AXSM has been the topic of a number of research analyst reports. Wells Fargo & Company raised their target price on shares of Axsome Therapeutics from $193.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, February 24th. Guggenheim raised their price target on Axsome Therapeutics from $205.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. HC Wainwright boosted their price objective on Axsome Therapeutics from $200.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Truist Financial set a $200.00 target price on Axsome Therapeutics in a research note on Monday, February 23rd. Finally, Robert W. Baird set a $209.00 price target on Axsome Therapeutics in a research report on Tuesday, January 13th. Seventeen analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Axsome Therapeutics has an average rating of “Moderate Buy” and an average price target of $216.12.

Axsome Therapeutics Price Performance

Shares of NASDAQ:AXSM opened at $164.05 on Wednesday. The firm has a market capitalization of $8.39 billion, a PE ratio of -44.46 and a beta of 0.43. The company has a current ratio of 1.55, a quick ratio of 1.48 and a debt-to-equity ratio of 1.38. Axsome Therapeutics, Inc. has a 1-year low of $86.99 and a 1-year high of $191.50. The business’s 50 day moving average is $176.21 and its 200-day moving average is $147.40.

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