Hillsdale Investment Management Inc. Invests $9.02 Million in Axsome Therapeutics, Inc. $AXSM

Hillsdale Investment Management Inc. acquired a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 53,363 shares of the company’s stock, valued at approximately $9,019,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Kemnay Advisory Services Inc. bought a new stake in Axsome Therapeutics during the fourth quarter worth about $31,000. Ameriflex Group Inc. bought a new position in Axsome Therapeutics in the fourth quarter valued at approximately $37,000. GAMMA Investing LLC grew its stake in Axsome Therapeutics by 65.4% in the fourth quarter. GAMMA Investing LLC now owns 268 shares of the company’s stock valued at $49,000 after purchasing an additional 106 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Axsome Therapeutics by 602.6% in the fourth quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock valued at $50,000 after purchasing an additional 235 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Axsome Therapeutics during the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM opened at $228.28 on Tuesday. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27. The business’s 50 day moving average price is $237.21 and its two-hundred day moving average price is $196.26. The company has a market cap of $11.75 billion, a PE ratio of -61.20 and a beta of 0.60. Axsome Therapeutics, Inc. has a twelve month low of $96.09 and a twelve month high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The business had revenue of $191.20 million during the quarter, compared to analyst estimates of $191.10 million. The firm’s revenue for the quarter was up 57.4% compared to the same quarter last year. On average, analysts predict that Axsome Therapeutics, Inc. will post -2.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AXSM. Deutsche Bank Aktiengesellschaft set a $280.00 price objective on Axsome Therapeutics in a research note on Tuesday, May 5th. Robert W. Baird boosted their target price on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. UBS Group boosted their target price on shares of Axsome Therapeutics from $251.00 to $259.00 and gave the stock a “buy” rating in a report on Friday, April 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Monday, April 20th. Finally, Morgan Stanley upgraded shares of Axsome Therapeutics from a “reduce” rating to an “overweight” rating in a research note on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $259.05.

Insiders Place Their Bets

In other Axsome Therapeutics news, Director Mark Coleman sold 643 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $249.00, for a total value of $160,107.00. Following the transaction, the director directly owned 30,389 shares in the company, valued at $7,566,861. The trade was a 2.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Herriot Tabuteau sold 49,666 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $240.25, for a total transaction of $11,932,256.50. Following the completion of the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at $1,736,767.25. The trade was a 87.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 163,352 shares of company stock worth $38,598,262 in the last quarter. Company insiders own 20.60% 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.