Hsbc Holdings PLC Purchases Shares of 55,800 Axsome Therapeutics, Inc. $AXSM

Hsbc Holdings PLC purchased a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 55,800 shares of the company’s stock, valued at approximately $13,667,000.

A number of other institutional investors have also modified their holdings of AXSM. Kemnay Advisory Services Inc. acquired a new position in shares of Axsome Therapeutics in the 4th quarter valued at about $31,000. Hollencrest Capital Management grew its holdings in Axsome Therapeutics by 400.0% during the first quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock worth $34,000 after acquiring an additional 160 shares during the period. Ameriflex Group Inc. purchased a new position in Axsome Therapeutics during the fourth quarter valued at approximately $37,000. Advisory Services Network LLC purchased a new position in Axsome Therapeutics during the third quarter valued at approximately $40,000. Finally, Farther Finance Advisors LLC lifted its holdings in 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 acquiring an additional 235 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Insiders Place Their Bets

In related news, Director Susan Mahony sold 300 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $237.21, for a total transaction of $71,163.00. Following the completion of the transaction, the director owned 1,129 shares in the company, valued at $267,810.09. This represents a 20.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mark Coleman sold 643 shares of the firm’s stock in a transaction dated 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 transaction, the director directly owned 30,389 shares in the company, valued at $7,566,861. This represents a 2.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 194,766 shares of company stock valued at $45,284,886. 20.60% of the stock is owned by company insiders.

Axsome Therapeutics Trading Down 0.4%

Shares of AXSM stock opened at $206.27 on Friday. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.43 and a quick ratio of 1.34. 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 stock has a 50 day simple moving average of $228.46 and a 200-day simple moving average of $206.78. Axsome Therapeutics, Inc. has a 1-year low of $112.90 and a 1-year high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) 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 business had revenue of $218.38 million for the quarter, compared to analysts’ expectations of $221.11 million. On average, equities research analysts expect that Axsome Therapeutics, Inc. will post -2.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AXSM has been the topic of several recent research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $272.00 price objective on shares of Axsome Therapeutics in a research report on Monday, May 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Axsome Therapeutics in a report on Friday, July 17th. Guggenheim boosted their target price on shares of Axsome Therapeutics from $260.00 to $275.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Royal Bank Of Canada dropped their price target on shares of Axsome Therapeutics from $304.00 to $297.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company lifted their price objective on shares of Axsome Therapeutics from $255.00 to $256.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $267.60.

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.