Avantax Advisory Services Inc. Buys New Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Avantax Advisory Services Inc. purchased a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,106 shares of the company’s stock, valued at approximately $246,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. NBC Securities Inc. acquired a new position in shares of Axsome Therapeutics during the first quarter worth approximately $31,000. Raiffeisen Bank International AG bought a new position in Axsome Therapeutics in the 4th quarter valued at $51,000. Aquatic Capital Management LLC bought a new position in Axsome Therapeutics in the 4th quarter valued at $76,000. GF Fund Management CO. LTD. bought a new position in Axsome Therapeutics in the 4th quarter valued at $86,000. Finally, Bank Hapoalim BM bought a new position in Axsome Therapeutics in the 1st quarter valued at $204,000. 81.49% of the stock is currently owned by institutional investors.

Axsome Therapeutics Price Performance

AXSM opened at $104.80 on Friday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.96 and a current ratio of 1.57. Axsome Therapeutics, Inc. has a 52-week low of $75.56 and a 52-week high of $139.13. The stock has a market capitalization of $5.23 billion, a PE ratio of -20.67 and a beta of 0.51. The stock’s 50 day moving average price is $105.86 and its 200-day moving average price is $110.79.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Monday, August 4th. The company reported ($0.92) earnings per share for the quarter, beating the consensus estimate of ($1.00) by $0.08. Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%. The company had revenue of $150.04 million for the quarter, compared to analyst estimates of $140.02 million. On average, equities research analysts predict that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Insider Activity at Axsome Therapeutics

In related news, COO Mark L. Jacobson sold 25,000 shares of Axsome Therapeutics stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $110.44, for a total transaction of $2,761,000.00. Following the sale, the chief operating officer directly owned 5,783 shares in the company, valued at $638,674.52. The trade was a 81.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Hunter R. Murdock sold 6,014 shares of Axsome Therapeutics stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $100.12, for a total value of $602,121.68. The disclosure for this sale can be found here. Insiders have sold 93,437 shares of company stock worth $9,834,215 over the last ninety days. 22.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on AXSM. Cantor Fitzgerald raised Axsome Therapeutics to a “strong-buy” rating in a report on Wednesday, May 14th. Oppenheimer began coverage on Axsome Therapeutics in a research report on Tuesday, June 3rd. They set an “outperform” rating and a $185.00 price target for the company. Wells Fargo & Company reiterated an “overweight” rating and set a $165.00 price target (up previously from $160.00) on shares of Axsome Therapeutics in a research report on Tuesday, May 6th. Robert W. Baird raised their price objective on Axsome Therapeutics from $160.00 to $162.00 and gave the company an “outperform” rating in a report on Tuesday, May 6th. Finally, Morgan Stanley started coverage on Axsome Therapeutics in a report on Thursday, July 3rd. They set an “overweight” rating and a $190.00 price objective on the stock. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $178.00.

Axsome Therapeutics Company 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.