Legal & General Group Plc Makes New $8.10 Million Investment in Axsome Therapeutics, Inc. $AXSM

Legal & General Group Plc bought a new stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 33,072 shares of the company’s stock, valued at approximately $8,095,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of AXSM. Kemnay Advisory Services Inc. bought a new position in shares of Axsome Therapeutics in the fourth quarter valued at approximately $31,000. Hollencrest Capital Management increased its holdings in Axsome Therapeutics by 400.0% during the 1st quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock worth $34,000 after acquiring an additional 160 shares during the period. Ameriflex Group Inc. bought a new stake in Axsome Therapeutics during the 4th quarter worth approximately $37,000. Advisory Services Network LLC purchased a new stake in Axsome Therapeutics in the 3rd quarter worth approximately $40,000. Finally, Farther Finance Advisors LLC lifted its stake in 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. 81.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price target on shares of Axsome Therapeutics in a report on Thursday, June 11th. BMO Capital Markets started coverage on Axsome Therapeutics in a research report on Monday, July 20th. They issued an “outperform” rating and a $310.00 price objective on the stock. Robert W. Baird lifted their price objective on Axsome Therapeutics from $241.00 to $246.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Friday, July 17th. Finally, UBS Group restated a “buy” rating on shares of Axsome Therapeutics in a research report on Monday, August 24th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Axsome Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $267.60.

Insiders Place Their Bets

In other Axsome Therapeutics news, CFO Nick Pizzie sold 33,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the sale, the chief financial officer owned 42,867 shares in the company, valued at $10,291,938.03. This trade represents a 43.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Herriot Tabuteau sold 49,670 shares of Axsome Therapeutics stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $241.01, for a total value of $11,970,966.70. Following the sale, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at approximately $1,742,261.29. This trade represents a 87.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 183,229 shares of company stock valued at $42,666,176 over the last quarter. Insiders own 20.60% of the company’s stock.

Axsome Therapeutics Trading Up 2.2%

Shares of Axsome Therapeutics stock opened at $202.83 on Wednesday. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.43 and a quick ratio of 1.34. Axsome Therapeutics, Inc. has a 1 year low of $112.90 and a 1 year high of $260.19. The firm has a market cap of $10.62 billion, a PE ratio of -54.09 and a beta of 0.65. The company has a 50 day simple moving average of $225.66 and a two-hundred day simple moving average of $207.10.

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

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.