Burney Co. Acquires Shares of 9,636 Axsome Therapeutics, Inc. $AXSM

Burney Co. bought a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,636 shares of the company’s stock, valued at approximately $1,629,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Kemnay Advisory Services Inc. acquired a new stake in Axsome Therapeutics during the 4th quarter valued at $31,000. Ameriflex Group Inc. acquired a new position in Axsome Therapeutics in the 4th quarter worth $37,000. Advisory Services Network LLC acquired a new position in Axsome Therapeutics in the 3rd quarter worth $40,000. GAMMA Investing LLC boosted its position in Axsome Therapeutics by 65.4% in the 4th quarter. GAMMA Investing LLC now owns 268 shares of the company’s stock valued at $49,000 after buying an additional 106 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Axsome Therapeutics by 602.6% in the 4th quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock valued at $50,000 after buying an additional 235 shares during the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on AXSM shares. UBS Group lifted their target price on Axsome Therapeutics from $251.00 to $259.00 and gave the stock a “buy” rating in a research report on Friday, April 10th. Mizuho increased their price target on Axsome Therapeutics from $228.00 to $310.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Piper Sandler restated an “overweight” rating and set a $258.00 price objective on shares of Axsome Therapeutics in a report on Monday, May 4th. TD Cowen upped their target price on Axsome Therapeutics from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $272.00 target price on shares of Axsome Therapeutics in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Axsome Therapeutics has an average rating of “Moderate Buy” and an average price target of $259.05.

Axsome Therapeutics Price Performance

Shares of NASDAQ:AXSM opened at $245.57 on Thursday. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27. Axsome Therapeutics, Inc. has a fifty-two week low of $96.09 and a fifty-two week high of $260.19. The firm has a 50-day simple moving average of $234.52 and a 200 day simple moving average of $194.50. The company has a market cap of $12.64 billion, a PE ratio of -65.84 and a beta of 0.60.

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

Insider Buying and Selling at Axsome Therapeutics

In related news, Director Mark Coleman sold 643 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $249.00, for a total transaction of $160,107.00. Following the completion of the transaction, the director directly owned 30,389 shares in the company, valued at $7,566,861. This represents a 2.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Roger Jeffs sold 286 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $246.18, for a total value of $70,407.48. Following the transaction, the director owned 58,653 shares of the company’s stock, valued at approximately $14,439,195.54. The trade was a 0.49% decrease in their ownership of the stock. 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. In the last three months, insiders sold 163,352 shares of company stock worth $38,598,262. Corporate insiders own 20.60% of the company’s stock.

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.