Franklin Street Advisors Inc. NC Makes New Investment in Axsome Therapeutics, Inc. $AXSM

Franklin Street Advisors Inc. NC acquired a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $1,826,000.

A number of other institutional investors have also added to or reduced their stakes in AXSM. Wellington Management Group LLP grew its position in Axsome Therapeutics by 84.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock worth $162,082,000 after purchasing an additional 609,516 shares in the last quarter. Invesco Ltd. grew its position in Axsome Therapeutics by 73.3% in the 3rd quarter. Invesco Ltd. now owns 990,557 shares of the company’s stock worth $120,303,000 after purchasing an additional 419,008 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in Axsome Therapeutics by 831.3% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 447,000 shares of the company’s stock worth $46,662,000 after purchasing an additional 399,000 shares in the last quarter. Marshall Wace LLP boosted its stake in Axsome Therapeutics by 566.5% in the third quarter. Marshall Wace LLP now owns 378,024 shares of the company’s stock valued at $45,911,000 after acquiring an additional 321,308 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Axsome Therapeutics by 6.0% in the third quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company’s stock valued at $507,739,000 after acquiring an additional 235,626 shares during the last quarter. 81.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Truist Financial upgraded shares of Axsome Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Royal Bank Of Canada boosted their target price on shares of Axsome Therapeutics from $219.00 to $222.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. Robert W. Baird set a $209.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, January 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Wednesday, January 21st. Finally, Wells Fargo & Company boosted their target price on shares of Axsome Therapeutics from $193.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $217.59.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $173.19 on Thursday. The stock has a market capitalization of $8.86 billion, a P/E ratio of -46.93 and a beta of 0.48. The company has a current ratio of 1.55, a quick ratio of 1.48 and a debt-to-equity ratio of 1.38. The firm’s 50 day moving average is $170.50 and its 200 day moving average is $155.00. Axsome Therapeutics, Inc. has a 12 month low of $86.99 and a 12 month high of $191.50.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Monday, February 23rd. The company reported ($0.56) EPS for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.14. The company had revenue of $196.00 million for the quarter, compared to analysts’ expectations of $191.33 million. Axsome Therapeutics had a negative net margin of 28.69% and a negative return on equity of 232.61%. The firm’s revenue was up 65.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Insider Activity at Axsome Therapeutics

In related news, Director Mark Coleman sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $161.11, for a total transaction of $4,027,750.00. Following the sale, the director directly owned 47,140 shares in the company, valued at approximately $7,594,725.40. This represents a 34.65% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Nick Pizzie sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $187.92, for a total transaction of $2,255,040.00. Following the sale, the chief financial officer owned 42,588 shares in the company, valued at $8,003,136.96. The trade was a 21.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 112,288 shares of company stock worth $19,408,377 in the last ninety days. Insiders own 22.30% of the company’s stock.

About Axsome Therapeutics

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.