LPL Financial LLC Lowers Holdings in Axsome Therapeutics, Inc. $AXSM

LPL Financial LLC trimmed its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 4.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,134 shares of the company’s stock after selling 1,075 shares during the period. LPL Financial LLC’s holdings in Axsome Therapeutics were worth $2,698,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. NBC Securities Inc. bought a new stake in shares of Axsome Therapeutics in the first quarter worth about $31,000. Neo Ivy Capital Management bought a new stake in shares of Axsome Therapeutics in the first quarter worth about $41,000. Raiffeisen Bank International AG bought a new stake in shares of Axsome Therapeutics in the fourth quarter worth about $51,000. Aquatic Capital Management LLC bought a new stake in shares of Axsome Therapeutics in the fourth quarter worth about $76,000. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Axsome Therapeutics in the fourth quarter worth about $86,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Axsome Therapeutics Stock Up 0.4%

Axsome Therapeutics stock opened at $109.21 on Monday. The business has a fifty day moving average of $105.62 and a two-hundred day moving average of $111.00. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 1.66. The firm has a market cap of $5.45 billion, a P/E ratio of -21.54 and a beta of 0.51. Axsome Therapeutics, Inc. has a twelve month low of $75.56 and a twelve month high of $139.13.

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

Insider Transactions at Axsome Therapeutics

In other news, Director Mark Coleman sold 3,750 shares of the company’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $105.47, for a total transaction of $395,512.50. Following the transaction, the director directly owned 50,387 shares of the company’s stock, valued at approximately $5,314,316.89. This represents a 6.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Hunter R. Murdock sold 7,500 shares of the company’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $100.26, for a total value of $751,950.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,437 shares of company stock valued at $9,834,215. Corporate insiders own 22.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Oppenheimer assumed coverage on Axsome Therapeutics in a report on Tuesday, June 3rd. They issued an “outperform” rating and a $185.00 target price on the stock. Cantor Fitzgerald raised Axsome Therapeutics to a “strong-buy” rating in a research note on Wednesday, May 14th. Morgan Stanley started coverage on Axsome Therapeutics in a research note on Thursday, July 3rd. They set an “overweight” rating and a $190.00 price objective on the stock. Robert W. Baird boosted their price objective on Axsome Therapeutics from $160.00 to $162.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 6th. Finally, Bank of America boosted their price objective on Axsome Therapeutics from $173.00 to $176.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $178.00.

Axsome Therapeutics 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.