Strs Ohio grew its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM – Free Report) by 10.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,400 shares of the company’s stock after acquiring an additional 700 shares during the quarter. Strs Ohio’s holdings in Axsome Therapeutics were worth $531,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. boosted its holdings in Axsome Therapeutics by 33.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 589 shares of the company’s stock worth $36,000 after acquiring an additional 148 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Axsome Therapeutics by 1.7% during the first quarter. AQR Capital Management LLC now owns 8,825 shares of the company’s stock valued at $544,000 after purchasing an additional 148 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Axsome Therapeutics by 5.1% during the first quarter. Victory Capital Management Inc. now owns 3,844 shares of the company’s stock valued at $237,000 after purchasing an additional 185 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Axsome Therapeutics by 1.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 14,627 shares of the company’s stock valued at $560,000 after purchasing an additional 245 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its holdings in shares of Axsome Therapeutics by 0.3% during the second quarter. Lindbrook Capital LLC now owns 84,469 shares of the company’s stock valued at $6,070,000 after purchasing an additional 248 shares in the last quarter. 76.60% of the stock is owned by institutional investors.
Analysts Set New Price Targets
AXSM has been the topic of a number of research analyst reports. William Blair reaffirmed an “outperform” rating on shares of Axsome Therapeutics in a report on Monday, August 7th. HC Wainwright reduced their price objective on Axsome Therapeutics from $190.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, August 8th. Piper Sandler raised Axsome Therapeutics from a “neutral” rating to an “overweight” rating and increased their target price for the company from $70.00 to $90.00 in a report on Monday, August 7th. StockNews.com assumed coverage on Axsome Therapeutics in a report on Thursday, October 5th. They issued a “sell” rating on the stock. Finally, Mizuho reissued a “buy” rating and issued a $100.00 target price on shares of Axsome Therapeutics in a report on Monday, September 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.40.
Axsome Therapeutics Stock Down 3.1 %
Shares of AXSM opened at $62.08 on Friday. The business’s 50 day moving average is $72.31 and its 200 day moving average is $73.73. The company has a market capitalization of $2.93 billion, a PE ratio of -14.50 and a beta of 1.91. Axsome Therapeutics, Inc. has a 12-month low of $40.88 and a 12-month high of $91.29. The company has a current ratio of 4.52, a quick ratio of 4.44 and a debt-to-equity ratio of 0.63.
Axsome Therapeutics (NASDAQ:AXSM – Get Free Report) last released its quarterly earnings results on Monday, August 7th. The company reported ($1.00) earnings per share for the quarter, beating the consensus estimate of ($1.24) by $0.24. The business had revenue of $46.70 million during the quarter, compared to analysts’ expectations of $40.19 million. Axsome Therapeutics had a negative return on equity of 92.39% and a negative net margin of 101.07%. Research analysts expect that Axsome Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal year.
Insider Buying and Selling at Axsome Therapeutics
In other news, Director Mark Coleman sold 11,016 shares of Axsome Therapeutics stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $75.19, for a total value of $828,293.04. Following the completion of the transaction, the director now owns 25,097 shares in the company, valued at approximately $1,887,043.43. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 24.50% of the stock is currently owned by company insiders.
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.
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