Canada Pension Plan Investment Board Invests $55.17 Million in Axsome Therapeutics, Inc. $AXSM

Canada Pension Plan Investment Board acquired a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 225,400 shares of the company’s stock, valued at approximately $55,171,000. Canada Pension Plan Investment Board owned about 0.43% of Axsome Therapeutics at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new stake in Axsome Therapeutics in the 4th quarter worth approximately $31,000. Hollencrest Capital Management lifted its stake in shares of Axsome Therapeutics by 400.0% during the 1st quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock worth $34,000 after purchasing an additional 160 shares during the period. Ameriflex Group Inc. acquired a new stake in shares of Axsome Therapeutics during the fourth quarter worth $37,000. Silvant Capital Management LLC acquired a new stake in shares of Axsome Therapeutics during the second quarter worth $66,000. Finally, Farther Finance Advisors LLC grew its position in shares of 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 during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AXSM shares. Oppenheimer set a $280.00 target price on Axsome Therapeutics in a research note on Monday, May 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $272.00 price target on shares of Axsome Therapeutics in a research note on Monday, May 4th. UBS Group restated a “buy” rating on shares of Axsome Therapeutics in a report on Monday. BMO Capital Markets assumed coverage on shares of Axsome Therapeutics in a research note on Monday, July 20th. They set an “outperform” rating and a $310.00 price objective for the company. Finally, Royal Bank Of Canada cut their price objective on shares of Axsome Therapeutics from $304.00 to $297.00 and set an “outperform” rating on the stock in a report on Tuesday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $267.60.

Axsome Therapeutics Trading Down 0.4%

AXSM stock opened at $206.27 on Friday. The company has a market cap of $10.80 billion, a price-to-earnings ratio of -55.01 and a beta of 0.65. The company has a quick ratio of 1.34, a current ratio of 1.43 and a debt-to-equity ratio of 1.52. The business has a fifty day simple moving average of $228.46 and a 200-day simple moving average of $206.78. Axsome Therapeutics, Inc. has a 52 week low of $112.90 and a 52 week high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results 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. On average, equities research analysts expect that Axsome Therapeutics, Inc. will post -2.8 EPS for the current year.

Insider Buying and Selling

In other news, Director Roger Jeffs sold 286 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $246.18, for a total transaction of $70,407.48. Following the completion of the sale, the director owned 58,653 shares in the company, valued at approximately $14,439,195.54. The trade was a 0.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Susan Mahony sold 300 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total transaction of $71,163.00. Following the sale, the director directly owned 1,129 shares of the company’s stock, valued at approximately $267,810.09. This trade represents a 20.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 194,766 shares of company stock worth $45,284,886. Corporate insiders own 20.60% of the company’s stock.

Axsome Therapeutics Company 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.