Russell Investments Group Ltd. Raises Stock Holdings in Axsome Therapeutics, Inc. $AXSM

Russell Investments Group Ltd. grew its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 574.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,804 shares of the company’s stock after acquiring an additional 15,166 shares during the quarter. Russell Investments Group Ltd.’s holdings in Axsome Therapeutics were worth $1,859,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in Axsome Therapeutics during the 1st quarter worth $48,185,000. 1832 Asset Management L.P. acquired a new stake in shares of Axsome Therapeutics during the first quarter worth about $42,360,000. BVF Inc. IL grew its holdings in shares of Axsome Therapeutics by 21.8% during the first quarter. BVF Inc. IL now owns 1,690,221 shares of the company’s stock worth $197,130,000 after buying an additional 302,157 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in shares of Axsome Therapeutics during the first quarter worth about $31,140,000. Finally, Driehaus Capital Management LLC acquired a new position in Axsome Therapeutics in the 1st quarter valued at about $24,975,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AXSM. Morgan Stanley increased their price objective on Axsome Therapeutics from $194.00 to $196.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. HC Wainwright lifted their price objective on shares of Axsome Therapeutics from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Royal Bank Of Canada boosted their price objective on shares of Axsome Therapeutics from $189.00 to $198.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Guggenheim raised their target price on shares of Axsome Therapeutics from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Axsome Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $179.88.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM opened at $149.26 on Thursday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.50 and a current ratio of 1.57. Axsome Therapeutics, Inc. has a one year low of $75.56 and a one year high of $152.94. The firm has a market capitalization of $7.52 billion, a P/E ratio of -31.96 and a beta of 0.48. The company’s fifty day moving average is $136.66 and its two-hundred day moving average is $119.76.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, November 3rd. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.12). The company 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% compared to the same quarter last year. Analysts forecast that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Mark L. Jacobson sold 10,000 shares of Axsome Therapeutics stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $115.96, for a total transaction of $1,159,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Herriot Tabuteau sold 10,558 shares of the business’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $148.18, for a total value of $1,564,484.44. Following the sale, the chief executive officer owned 7,229 shares in the company, valued at approximately $1,071,193.22. The trade was a 59.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 407,959 shares of company stock valued at $52,645,040. Insiders own 22.30% of the company’s stock.

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.