Eagle Asset Management Inc. Cuts Stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Eagle Asset Management Inc. reduced its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 16.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 82,791 shares of the company’s stock after selling 15,854 shares during the quarter. Eagle Asset Management Inc.’s holdings in Axsome Therapeutics were worth $7,457,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Axsome Therapeutics by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 322,596 shares of the company’s stock worth $28,992,000 after purchasing an additional 12,778 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new position in Axsome Therapeutics in the 3rd quarter worth about $585,000. Intech Investment Management LLC bought a new position in Axsome Therapeutics during the 3rd quarter valued at about $983,000. Moors & Cabot Inc. bought a new stake in shares of Axsome Therapeutics in the third quarter worth approximately $200,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Axsome Therapeutics during the third quarter valued at approximately $830,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AXSM has been the subject of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $107.00 target price on shares of Axsome Therapeutics in a research note on Monday, September 16th. Needham & Company LLC reissued a “buy” rating and issued a $130.00 target price on shares of Axsome Therapeutics in a report on Tuesday, November 12th. Robert W. Baird raised their target price on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. UBS Group decreased their price target on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Finally, HC Wainwright reissued a “buy” rating and set a $180.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, September 5th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $124.93.

Insider Activity

In related news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total value of $1,005,870.96. Following the completion of the transaction, the director now directly owns 10,002 shares of the company’s stock, valued at approximately $913,282.62. This represents a 52.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 22.40% of the company’s stock.

Axsome Therapeutics Trading Up 0.5 %

NASDAQ AXSM opened at $98.68 on Monday. The company has a fifty day moving average of $90.99 and a 200 day moving average of $85.06. The company has a market capitalization of $4.78 billion, a PE ratio of -15.11 and a beta of 1.26. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. Axsome Therapeutics, Inc. has a 1 year low of $60.28 and a 1 year high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.38) by $0.04. The firm had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same period in the previous year, the business posted ($1.32) EPS. Research analysts forecast that Axsome Therapeutics, Inc. will post -4.75 earnings per share for the current year.

Axsome Therapeutics Company 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.