Nicholas Investment Partners LP Boosts Stock Position in Axsome Therapeutics, Inc. $AXSM

Nicholas Investment Partners LP lifted its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 88.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,564 shares of the company’s stock after purchasing an additional 42,907 shares during the quarter. Axsome Therapeutics accounts for about 1.2% of Nicholas Investment Partners LP’s holdings, making the stock its 13th largest holding. Nicholas Investment Partners LP’s holdings in Axsome Therapeutics were worth $16,723,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AXSM. Optiver Holding B.V. boosted its holdings in shares of Axsome Therapeutics by 82.3% in the 3rd quarter. Optiver Holding B.V. now owns 288 shares of the company’s stock worth $35,000 after purchasing an additional 130 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Axsome Therapeutics in the 3rd quarter worth about $40,000. GAMMA Investing LLC boosted its holdings in shares of Axsome Therapeutics by 65.4% in the 4th quarter. GAMMA Investing LLC now owns 268 shares of the company’s stock worth $49,000 after purchasing an additional 106 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Axsome Therapeutics by 602.6% in the 4th quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock worth $50,000 after purchasing an additional 235 shares in the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of Axsome Therapeutics in the 3rd quarter worth about $60,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AXSM. Wolfe Research began coverage on Axsome Therapeutics in a report on Monday, February 23rd. They issued an “outperform” rating and a $230.00 price objective for the company. Truist Financial upgraded Axsome Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. Robert W. Baird upped their price objective on Axsome Therapeutics from $241.00 to $246.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $272.00 price objective on shares of Axsome Therapeutics in a report on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft set a $280.00 target price on Axsome Therapeutics in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Axsome Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $256.79.

Axsome Therapeutics Trading Up 0.6%

Shares of AXSM stock opened at $255.17 on Friday. The stock has a market capitalization of $13.13 billion, a PE ratio of -68.41 and a beta of 0.61. Axsome Therapeutics, Inc. has a 1-year low of $96.09 and a 1-year high of $257.92. The business has a 50-day moving average of $210.94 and a 200 day moving average of $181.95. 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 issued its earnings results on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.41). The company had revenue of $191.20 million for the quarter, compared to analysts’ expectations of $191.10 million. Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The business’s revenue was up 57.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Axsome Therapeutics, Inc. will post -2.27 earnings per share for the current year.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, insider Ari Maizel sold 7,500 shares of the company’s stock in a transaction that occurred on 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 owned 7,500 shares of the company’s stock, valued at $1,368,150. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark Coleman sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $230.30, for a total value of $1,381,800.00. Following the transaction, the director directly owned 35,140 shares of the company’s stock, valued at $8,092,742. The trade was a 14.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 113,686 shares of company stock worth $26,666,006 over the last three months. 20.60% of the stock is owned by corporate insiders.

About Axsome Therapeutics

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.