Axsome Therapeutics, Inc. (NASDAQ:AXSM) Shares Bought by Meridian Wealth Management LLC

Meridian Wealth Management LLC boosted its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 0.7% in the fourth quarter, HoldingsChannel reports. The firm owned 21,171 shares of the company’s stock after buying an additional 150 shares during the period. Meridian Wealth Management LLC’s holdings in Axsome Therapeutics were worth $1,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AXSM. Iron Triangle Partners LP acquired a new position in Axsome Therapeutics during the third quarter valued at $22,671,000. Principal Financial Group Inc. lifted its position in Axsome Therapeutics by 6,002.7% during the fourth quarter. Principal Financial Group Inc. now owns 207,065 shares of the company’s stock valued at $17,520,000 after purchasing an additional 203,672 shares during the period. FMR LLC lifted its position in Axsome Therapeutics by 20.6% during the third quarter. FMR LLC now owns 1,088,087 shares of the company’s stock valued at $97,786,000 after purchasing an additional 185,951 shares during the period. abrdn plc raised its position in shares of Axsome Therapeutics by 553.3% in the fourth quarter. abrdn plc now owns 72,179 shares of the company’s stock worth $6,107,000 after acquiring an additional 61,131 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of Axsome Therapeutics by 47.5% in the third quarter. Franklin Resources Inc. now owns 160,534 shares of the company’s stock worth $13,713,000 after acquiring an additional 51,696 shares during the period. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the sale, the chief financial officer now owns 42,187 shares of the company’s stock, valued at approximately $5,529,450.09. This represents a 6.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 22.40% of the stock is owned by corporate insiders.

Axsome Therapeutics Stock Down 0.3 %

Shares of NASDAQ AXSM opened at $127.15 on Tuesday. Axsome Therapeutics, Inc. has a 12-month low of $64.11 and a 12-month high of $139.13. The stock has a market cap of $6.20 billion, a PE ratio of -21.23 and a beta of 1.05. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. The company has a 50-day moving average of $105.81 and a 200 day moving average of $96.81.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The company had revenue of $118.77 million during the quarter, compared to analysts’ expectations of $117.83 million. As a group, sell-side analysts predict that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on AXSM shares. Bank of America upped their price objective on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. William Blair reiterated an “outperform” rating on shares of Axsome Therapeutics in a research report on Tuesday, February 18th. HC Wainwright upped their price objective on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Leerink Partners upped their price objective on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. Finally, StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $167.36.

About Axsome Therapeutics

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.