Corient Private Wealth LP Buys New Position in Axsome Therapeutics, Inc. $AXSM

Corient Private Wealth LP purchased a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the second quarter, HoldingsChannel reports. The institutional investor purchased 5,156 shares of the company’s stock, valued at approximately $1,262,000.

A number of other institutional investors have also recently made changes to their positions in AXSM. Norges Bank bought a new stake in Axsome Therapeutics during the fourth quarter worth about $90,490,000. Axiom Investors LLC DE raised its holdings in shares of Axsome Therapeutics by 28.7% during the 4th quarter. Axiom Investors LLC DE now owns 63,390 shares of the company’s stock valued at $11,578,000 after buying an additional 14,137 shares in the last quarter. Legato Capital Management LLC lifted its position in Axsome Therapeutics by 90.6% in the 4th quarter. Legato Capital Management LLC now owns 9,627 shares of the company’s stock worth $1,758,000 after buying an additional 4,576 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Axsome Therapeutics by 60.1% in the 4th quarter. BNP Paribas Financial Markets now owns 304,388 shares of the company’s stock worth $55,593,000 after buying an additional 114,282 shares during the last quarter. Finally, BlackRock Inc. purchased a new stake in shares of Axsome Therapeutics in the 2nd quarter valued at $759,695,000. Institutional investors own 81.49% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AXSM shares. Guggenheim increased their price objective on Axsome Therapeutics from $260.00 to $275.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Truist Financial raised Axsome Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. Zacks Research upgraded Axsome Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. TD Cowen raised their price objective on Axsome Therapeutics from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Finally, BMO Capital Markets began coverage on shares of Axsome Therapeutics in a report on Monday, July 20th. They set an “outperform” rating and a $310.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $267.60.

Insider Activity

In other Axsome Therapeutics news, Director Susan Mahony sold 300 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $237.21, for a total transaction of $71,163.00. Following the completion of the sale, the director directly owned 1,129 shares of the company’s stock, valued at approximately $267,810.09. This represents a 20.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mark Coleman sold 643 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $249.00, for a total transaction of $160,107.00. Following the completion of the transaction, the director owned 30,389 shares in the company, valued at $7,566,861. The trade was a 2.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 193,229 shares of company stock worth $44,752,676. 20.60% of the stock is owned by corporate insiders.

Axsome Therapeutics Stock Performance

Shares of NASDAQ:AXSM opened at $206.68 on Friday. The company has a 50-day moving average price of $223.81 and a 200-day moving average price of $207.48. The company has a market cap of $10.83 billion, a price-to-earnings ratio of -55.11 and a beta of 0.71. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 1.52. Axsome Therapeutics, Inc. has a 12 month low of $112.90 and a 12 month high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.10). Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. The firm had revenue of $218.38 million for the quarter, compared to the consensus estimate of $221.11 million. As a group, equities analysts anticipate that Axsome Therapeutics, Inc. will post -2.8 EPS for the current year.

Axsome Therapeutics Company 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.