Axsome Therapeutics, Inc. $AXSM Shares Purchased by Pitcairn Co.

Pitcairn Co. boosted its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 99.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 8,513 shares of the company’s stock after acquiring an additional 4,242 shares during the period. Pitcairn Co.’s holdings in Axsome Therapeutics were worth $889,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Axsome Therapeutics in the second quarter worth about $48,889,000. Adage Capital Partners GP L.L.C. increased its stake in shares of Axsome Therapeutics by 831.3% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 447,000 shares of the company’s stock valued at $46,662,000 after purchasing an additional 399,000 shares in the last quarter. Hood River Capital Management LLC acquired a new position in Axsome Therapeutics in the 2nd quarter worth about $38,740,000. 1832 Asset Management L.P. purchased a new position in Axsome Therapeutics during the first quarter worth approximately $42,360,000. Finally, BVF Inc. IL grew its holdings in Axsome Therapeutics by 21.8% in the first quarter. BVF Inc. IL now owns 1,690,221 shares of the company’s stock valued at $197,130,000 after purchasing an additional 302,157 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Stock Down 1.3%

AXSM stock opened at $146.24 on Tuesday. Axsome Therapeutics, Inc. has a fifty-two week low of $75.56 and a fifty-two week high of $152.94. The company’s 50 day moving average price is $138.32 and its 200 day moving average price is $120.79. The firm has a market capitalization of $7.37 billion, a price-to-earnings ratio of -31.31 and a beta of 0.47. 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 (NASDAQ:AXSM) last released its quarterly earnings data on Monday, November 3rd. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.12). Axsome Therapeutics had a negative return on equity of 277.31% and a negative net margin of 40.90%.The firm had revenue of $170.99 million for the quarter, compared to analysts’ expectations of $162.96 million. The firm’s quarterly revenue was up 63.2% on a year-over-year basis. On average, equities research analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AXSM. Morgan Stanley increased their target price on Axsome Therapeutics from $194.00 to $196.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Royal Bank Of Canada boosted their price target on shares of Axsome Therapeutics from $189.00 to $198.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Needham & Company LLC restated a “buy” rating and issued a $154.00 target price on shares of Axsome Therapeutics in a report on Tuesday, November 4th. Guggenheim increased their price target on shares of Axsome Therapeutics from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Finally, HC Wainwright boosted their price objective on shares of Axsome Therapeutics from $180.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $179.88.

Insider Activity at Axsome Therapeutics

In related news, CEO Herriot Tabuteau sold 10,558 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $148.18, for a total transaction of $1,564,484.44. Following the transaction, the chief executive officer owned 7,229 shares in the company, valued at $1,071,193.22. This trade represents a 59.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Mark L. Jacobson sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $115.96, for a total transaction of $1,159,600.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 299,296 shares of company stock valued at $40,041,911 in the last 90 days. Insiders own 22.40% of the company’s stock.

Axsome Therapeutics 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.