Axsome Therapeutics, Inc. $AXSM Shares Purchased by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. boosted its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 10.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 4,132 shares of the company’s stock after acquiring an additional 383 shares during the period. Ameritas Investment Partners Inc.’s holdings in Axsome Therapeutics were worth $431,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Axsome Therapeutics during the first quarter worth about $25,000. Quantbot Technologies LP acquired a new stake in Axsome Therapeutics in the 1st quarter worth about $31,000. AlphaQuest LLC acquired a new position in shares of Axsome Therapeutics during the first quarter valued at approximately $38,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Axsome Therapeutics in the first quarter valued at approximately $47,000. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Axsome Therapeutics in the second quarter valued at approximately $77,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $151.56 on Friday. Axsome Therapeutics, Inc. has a one year low of $75.56 and a one year high of $152.94. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.51 and a current ratio of 1.57. The firm’s 50 day moving average price is $131.99 and its 200-day moving average price is $117.46. The firm has a market cap of $7.64 billion, a P/E ratio of -29.89 and a beta of 0.50.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, November 3rd. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.12). Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. The firm had revenue of $170.99 million during the quarter, compared to analysts’ expectations of $162.96 million. Axsome Therapeutics’s revenue for the quarter was up 63.2% compared to the same quarter last year. As a group, equities research analysts predict that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on AXSM shares. Guggenheim boosted their price target on Axsome Therapeutics from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Royal Bank Of Canada lifted their target price on shares of Axsome Therapeutics from $189.00 to $198.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. HC Wainwright upped their target price on shares of Axsome Therapeutics from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Morgan Stanley increased their target price on shares of Axsome Therapeutics from $194.00 to $196.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Finally, Needham & Company LLC restated a “buy” rating and set a $154.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Axsome Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $179.88.

Insider Buying and Selling at Axsome Therapeutics

In related news, COO Mark L. Jacobson sold 10,000 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $115.96, for a total transaction of $1,159,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Herriot Tabuteau sold 21,775 shares of Axsome Therapeutics stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $134.49, for a total value of $2,928,519.75. Following the completion of the transaction, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at approximately $972,228.21. This represents a 75.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 350,577 shares of company stock worth $43,803,199 in the last quarter. Company insiders own 22.30% of the company’s stock.

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.