Stanley Laman Group Ltd. Makes New $2.13 Million Investment in Axsome Therapeutics, Inc. $AXSM

Stanley Laman Group Ltd. acquired a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the third quarter, according to its most recent 13F filing with the SEC. The firm acquired 17,501 shares of the company’s stock, valued at approximately $2,125,000.

Other institutional investors have also modified their holdings of the company. Ameritas Advisory Services LLC purchased a new position in Axsome Therapeutics in the second quarter valued at approximately $77,000. Assetmark Inc. raised its stake in shares of Axsome Therapeutics by 13.9% in the 2nd quarter. Assetmark Inc. now owns 1,124 shares of the company’s stock valued at $117,000 after acquiring an additional 137 shares during the period. Allworth Financial LP lifted its holdings in shares of Axsome Therapeutics by 361.8% during the 2nd quarter. Allworth Financial LP now owns 1,353 shares of the company’s stock valued at $141,000 after acquiring an additional 1,060 shares in the last quarter. Financial Consulate Inc. acquired a new position in shares of Axsome Therapeutics during the 3rd quarter valued at $148,000. Finally, AlphaQuest LLC boosted its position in Axsome Therapeutics by 390.2% during the 2nd quarter. AlphaQuest LLC now owns 1,608 shares of the company’s stock worth $168,000 after purchasing an additional 1,280 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Insider Buying and Selling at Axsome Therapeutics

In other news, Director Mark E. Saad sold 37,577 shares of the business’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $165.18, for a total value of $6,206,968.86. Following the completion of the sale, the director owned 10,002 shares of the company’s stock, valued at approximately $1,652,130.36. The trade was a 78.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Herriot Tabuteau sold 91,705 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $132.34, for a total transaction of $12,136,239.70. Following the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at $956,685.86. The trade was a 92.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 307,653 shares of company stock valued at $42,779,613. 22.40% of the stock is owned by company insiders.

Axsome Therapeutics Price Performance

AXSM stock opened at $178.69 on Monday. The stock’s 50 day moving average is $147.29 and its two-hundred day moving average is $125.78. Axsome Therapeutics, Inc. has a 52-week low of $79.19 and a 52-week high of $184.40. The company has a market capitalization of $9.01 billion, a PE ratio of -38.26, a P/E/G ratio of 12.83 and a beta of 0.44. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 1.66.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Monday, November 3rd. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.12). The company had revenue of $170.99 million for the quarter, compared to analyst estimates of $162.96 million. Axsome Therapeutics had a negative return on equity of 277.31% and a negative net margin of 40.90%.Axsome Therapeutics’s quarterly revenue was up 63.2% compared to the same quarter last year. Analysts predict that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AXSM shares. Needham & Company LLC raised their price objective on Axsome Therapeutics from $154.00 to $169.00 and gave the company a “buy” rating in a research report on Wednesday, December 31st. Wells Fargo & Company dropped their target price on Axsome Therapeutics from $163.00 to $157.00 and set an “overweight” rating on the stock in a report on Tuesday, November 4th. Royal Bank Of Canada boosted their price target on Axsome Therapeutics from $189.00 to $198.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Guggenheim reaffirmed a “buy” rating and issued a $205.00 price objective on shares of Axsome Therapeutics in a research report on Friday. Finally, B. Riley began coverage on shares of Axsome Therapeutics in a research report on Wednesday, October 1st. They set a “buy” rating and a $179.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $183.94.

Axsome Therapeutics Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.