NewEdge Wealth LLC Invests $851,000 in Axsome Therapeutics, Inc. $AXSM

NewEdge Wealth LLC acquired a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,476 shares of the company’s stock, valued at approximately $851,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kemnay Advisory Services Inc. purchased a new position in Axsome Therapeutics in the fourth quarter worth $31,000. Ameriflex Group Inc. purchased a new stake in shares of Axsome Therapeutics during the 4th quarter valued at $37,000. Hollencrest Capital Management boosted its position in shares of Axsome Therapeutics by 400.0% in the 1st quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock worth $34,000 after purchasing an additional 160 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Axsome Therapeutics by 602.6% in the 4th quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock worth $50,000 after purchasing an additional 235 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new position in Axsome Therapeutics during the 3rd quarter worth $40,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft set a $280.00 price target on Axsome Therapeutics in a research note on Tuesday, May 5th. HC Wainwright restated a “buy” rating and set a $290.00 price target on shares of Axsome Therapeutics in a research note on Wednesday, July 15th. Zacks Research upgraded shares of Axsome Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday. Robert W. Baird increased their price objective on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Finally, Mizuho lifted their target price on shares of Axsome Therapeutics from $306.00 to $316.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.60.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark Coleman sold 643 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $249.00, for a total transaction of $160,107.00. Following the completion of the sale, the director directly owned 30,389 shares in the company, valued at approximately $7,566,861. The trade was a 2.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Nick Pizzie sold 33,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the completion of the sale, the chief financial officer directly owned 42,867 shares in the company, valued at $10,291,938.03. This trade represents a 43.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 200,766 shares of company stock valued at $46,685,646 over the last quarter. Company insiders own 20.60% of the company’s stock.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $207.77 on Friday. The stock has a 50-day moving average of $232.13 and a two-hundred day moving average of $206.02. Axsome Therapeutics, Inc. has a one year low of $112.90 and a one year high of $260.19. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.34 and a current ratio of 1.43. The stock has a market cap of $10.88 billion, a P/E ratio of -55.41 and a beta of 0.65.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. The firm had revenue of $218.38 million during the quarter, compared to analyst estimates of $221.11 million. As a group, research analysts predict that Axsome Therapeutics, Inc. will post -2.78 EPS for the current year.

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.