J. Goldman & Co LP Buys New Position in Axsome Therapeutics, Inc. $AXSM

J. Goldman & Co LP bought a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 23,014 shares of the company’s stock, valued at approximately $5,633,000.

A number of other hedge funds have also recently bought and sold shares of the stock. ABS Investment Management LLC bought a new position in shares of Axsome Therapeutics in the second quarter valued at $171,339,000. Hsbc Holdings PLC acquired a new position in shares of Axsome Therapeutics in the second quarter valued at $13,667,000. PDT Partners LLC bought a new position in shares of Axsome Therapeutics in the second quarter valued at about $514,000. Palisade Capital Management LP acquired a new stake in shares of Axsome Therapeutics during the 2nd quarter worth about $6,153,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Axsome Therapeutics during the 2nd quarter worth about $55,171,000. 81.49% of the stock is currently owned by institutional investors.

Axsome Therapeutics Trading Up 0.0%

Shares of AXSM stock opened at $205.48 on Wednesday. The stock has a 50 day simple moving average of $230.24 and a 200 day simple moving average of $206.43. Axsome Therapeutics, Inc. has a 1 year low of $112.90 and a 1 year high of $260.19. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 1.52. The stock has a market cap of $10.76 billion, a P/E ratio of -54.79 and a beta of 0.65.

Axsome Therapeutics (NASDAQ:AXSM) last released 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 company had revenue of $218.38 million for the quarter, compared to the consensus estimate of $221.11 million. On average, research analysts predict that Axsome Therapeutics, Inc. will post -2.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

AXSM has been the subject of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Friday, July 17th. Jefferies Financial Group reiterated a “buy” rating and set a $380.00 target price on shares of Axsome Therapeutics in a research note on Thursday, June 11th. Deutsche Bank Aktiengesellschaft set a $280.00 price target on Axsome Therapeutics in a report on Tuesday, May 5th. BMO Capital Markets began coverage on Axsome Therapeutics in a report on Monday, July 20th. They issued an “outperform” rating and a $310.00 price objective on the stock. Finally, Royal Bank Of Canada dropped their target price on Axsome Therapeutics from $304.00 to $297.00 and set an “outperform” rating for the company in a report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $267.60.

Insider Activity

In related news, CEO Herriot Tabuteau sold 49,670 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $241.01, for a total transaction of $11,970,966.70. Following the sale, the chief executive officer owned 7,229 shares in the company, valued at approximately $1,742,261.29. This trade represents a 87.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Nick Pizzie sold 33,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $240.09, for a total value of $7,922,970.00. Following the sale, the chief financial officer owned 42,867 shares of the company’s stock, valued at $10,291,938.03. The trade was a 43.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 200,766 shares of company stock valued at $46,685,646 in the last 90 days. 20.60% of the stock is owned by corporate insiders.

About Axsome Therapeutics

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.