Axsome Therapeutics, Inc. $AXSM Position Boosted by TD Asset Management Inc

TD Asset Management Inc grew its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 107.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 44,192 shares of the company’s stock after purchasing an additional 22,914 shares during the period. TD Asset Management Inc owned approximately 0.09% of Axsome Therapeutics worth $5,367,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of AXSM. Vanguard Group Inc. boosted its holdings in shares of Axsome Therapeutics by 6.0% in the third quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company’s stock valued at $507,739,000 after acquiring an additional 235,626 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Axsome Therapeutics by 5.8% in the 2nd quarter. Geode Capital Management LLC now owns 989,453 shares of the company’s stock worth $103,303,000 after buying an additional 54,600 shares in the last quarter. State Street Corp lifted its holdings in shares of Axsome Therapeutics by 5.8% in the second quarter. State Street Corp now owns 958,503 shares of the company’s stock valued at $100,058,000 after buying an additional 52,483 shares during the period. Bank of America Corp DE boosted its stake in Axsome Therapeutics by 41.1% during the second quarter. Bank of America Corp DE now owns 753,429 shares of the company’s stock valued at $78,650,000 after buying an additional 219,527 shares in the last quarter. Finally, Man Group plc grew its holdings in Axsome Therapeutics by 2.3% during the second quarter. Man Group plc now owns 525,069 shares of the company’s stock worth $54,812,000 after acquiring an additional 11,848 shares during the period. Institutional investors and hedge funds own 81.49% of the company’s stock.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $164.05 on Wednesday. The company has a market capitalization of $8.39 billion, a price-to-earnings ratio of -44.46 and a beta of 0.43. Axsome Therapeutics, Inc. has a 1-year low of $86.99 and a 1-year high of $191.50. The company has a current ratio of 1.55, a quick ratio of 1.48 and a debt-to-equity ratio of 1.38. The stock’s fifty day simple moving average is $176.21 and its 200-day simple moving average is $147.40.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, February 23rd. The company reported ($0.56) EPS for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.14. The firm had revenue of $196.00 million during the quarter, compared to analyst estimates of $191.33 million. Axsome Therapeutics had a negative return on equity of 232.61% and a negative net margin of 28.69%.The firm’s revenue was up 65.0% compared to the same quarter last year. On average, sell-side analysts predict that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AXSM. Weiss Ratings restated a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Wednesday, January 21st. Piper Sandler raised their target price on shares of Axsome Therapeutics from $148.00 to $223.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Morgan Stanley set a $207.00 price target on Axsome Therapeutics in a report on Tuesday, February 24th. Mizuho set a $230.00 price objective on Axsome Therapeutics in a research note on Thursday, February 19th. Finally, Truist Financial set a $200.00 target price on Axsome Therapeutics in a report on Monday, February 23rd. Seventeen research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $216.12.

Insider Transactions at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 12,000 shares of Axsome Therapeutics stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $187.92, for a total transaction of $2,255,040.00. Following the completion of the sale, the chief financial officer owned 42,588 shares of the company’s stock, valued at approximately $8,003,136.96. This trade represents a 21.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Coleman sold 25,000 shares of the company’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $161.11, for a total value of $4,027,750.00. Following the completion of the transaction, the director directly owned 47,140 shares in the company, valued at approximately $7,594,725.40. The trade was a 34.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 299,837 shares of company stock worth $51,061,447. 22.40% of the stock is owned by company insiders.

Axsome Therapeutics 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.