Cerity Partners LLC Increases Stock Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Cerity Partners LLC boosted its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 32.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,941 shares of the company’s stock after purchasing an additional 1,198 shares during the period. Cerity Partners LLC’s holdings in Axsome Therapeutics were worth $419,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Barclays PLC raised its position in shares of Axsome Therapeutics by 279.6% during the 3rd quarter. Barclays PLC now owns 61,785 shares of the company’s stock valued at $5,552,000 after buying an additional 45,509 shares during the period. Franklin Resources Inc. raised its position in Axsome Therapeutics by 47.5% in the third quarter. Franklin Resources Inc. now owns 160,534 shares of the company’s stock valued at $13,713,000 after purchasing an additional 51,696 shares during the period. JPMorgan Chase & Co. raised its position in Axsome Therapeutics by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock valued at $19,062,000 after purchasing an additional 27,534 shares during the period. Pallas Capital Advisors LLC acquired a new position in shares of Axsome Therapeutics in the 4th quarter valued at $2,237,000. Finally, Flower City Capital purchased a new position in shares of Axsome Therapeutics during the 4th quarter worth $254,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AXSM has been the topic of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $153.00 target price on shares of Axsome Therapeutics in a research report on Wednesday, February 19th. Truist Financial upped their price objective on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. William Blair reiterated an “outperform” rating on shares of Axsome Therapeutics in a report on Tuesday, February 18th. Jefferies Financial Group started coverage on Axsome Therapeutics in a research report on Monday, April 7th. They issued a “buy” rating and a $200.00 target price on the stock. Finally, Wells Fargo & Company raised their price target on Axsome Therapeutics from $140.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Axsome Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $169.80.

Insider Transactions at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the sale, the chief financial officer now owns 42,187 shares of the company’s stock, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 22.40% of the company’s stock.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $103.82 on Wednesday. Axsome Therapeutics, Inc. has a 1 year low of $64.11 and a 1 year high of $139.13. The stock has a market capitalization of $5.06 billion, a PE ratio of -17.33 and a beta of 0.88. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. The stock has a 50-day simple moving average of $117.03 and a 200-day simple moving average of $102.66.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The company had revenue of $118.77 million during the quarter, compared to the consensus estimate of $117.83 million. On average, analysts predict that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

About Axsome Therapeutics

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.