Axsome Therapeutics, Inc. $AXSM Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC lifted its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 26.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,298 shares of the company’s stock after purchasing an additional 4,270 shares during the period. Intech Investment Management LLC’s holdings in Axsome Therapeutics were worth $2,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AXSM. Mutual of America Capital Management LLC grew its holdings in shares of Axsome Therapeutics by 0.3% in the first quarter. Mutual of America Capital Management LLC now owns 39,623 shares of the company’s stock valued at $4,621,000 after purchasing an additional 136 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Axsome Therapeutics during the first quarter worth about $25,000. GF Fund Management CO. LTD. lifted its position in shares of Axsome Therapeutics by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 1,241 shares of the company’s stock worth $145,000 after purchasing an additional 223 shares in the last quarter. Xponance Inc. lifted its position in shares of Axsome Therapeutics by 8.7% during the first quarter. Xponance Inc. now owns 2,891 shares of the company’s stock worth $337,000 after purchasing an additional 232 shares in the last quarter. Finally, Tocqueville Asset Management L.P. lifted its position in shares of Axsome Therapeutics by 5.1% during the first quarter. Tocqueville Asset Management L.P. now owns 5,200 shares of the company’s stock worth $606,000 after purchasing an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Insider Transactions at Axsome Therapeutics

In other news, Director Mark Coleman purchased 1,575 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was acquired at an average price of $127.28 per share, with a total value of $200,466.00. Following the purchase, the director directly owned 48,212 shares of the company’s stock, valued at $6,136,423.36. This represents a 3.38% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark E. Saad sold 9,127 shares of Axsome Therapeutics stock in a transaction on Friday, September 5th. The stock was sold at an average price of $125.07, for a total value of $1,141,513.89. Following the transaction, the director directly owned 10,002 shares of the company’s stock, valued at $1,250,950.14. This trade represents a 47.71% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,799 shares of company stock worth $11,014,604. Corporate insiders own 22.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AXSM shares. Bank of America raised their target price on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Morgan Stanley assumed coverage on shares of Axsome Therapeutics in a report on Thursday, July 3rd. They issued an “overweight” rating and a $190.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 target price on shares of Axsome Therapeutics in a report on Monday, August 4th. Oppenheimer assumed coverage on shares of Axsome Therapeutics in a report on Tuesday, June 3rd. They issued an “outperform” rating and a $185.00 target price on the stock. Finally, Wells Fargo & Company upgraded shares of Axsome Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $177.86.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM opened at $116.78 on Tuesday. The firm has a market capitalization of $5.83 billion, a P/E ratio of -23.03 and a beta of 0.54. Axsome Therapeutics, Inc. has a one year low of $75.56 and a one year high of $139.13. The company’s fifty day moving average is $112.38 and its two-hundred day moving average is $110.50. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.51 and a current ratio of 1.57.

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