Goodwin Investment Advisory Makes New $1.04 Million Investment in Axsome Therapeutics, Inc. $AXSM

Goodwin Investment Advisory purchased a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,241 shares of the company’s stock, valued at approximately $1,038,000. Axsome Therapeutics makes up about 2.1% of Goodwin Investment Advisory’s investment portfolio, making the stock its 9th biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kemnay Advisory Services Inc. acquired a new position in Axsome Therapeutics in the fourth quarter valued at about $31,000. Hollencrest Capital Management raised its stake in shares of Axsome Therapeutics by 400.0% in the 1st quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock valued at $34,000 after purchasing an additional 160 shares during the period. Ameriflex Group Inc. acquired a new stake in Axsome Therapeutics in the 4th quarter valued at approximately $37,000. Advisory Services Network LLC bought a new stake in shares of Axsome Therapeutics in the third quarter worth $40,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of Axsome Therapeutics by 602.6% during the 4th quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock worth $50,000 after buying an additional 235 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Wall Street Analysts Forecast Growth

AXSM has been the subject of several analyst reports. Oppenheimer set a $280.00 price objective on Axsome Therapeutics in a report on Monday, May 4th. Robert W. Baird increased their price target on Axsome Therapeutics from $241.00 to $246.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Needham & Company LLC raised their price target on Axsome Therapeutics from $267.00 to $268.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Morgan Stanley boosted their price target on Axsome Therapeutics from $242.00 to $251.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company upped their price objective on Axsome Therapeutics from $255.00 to $256.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $267.60.

Insider Activity at Axsome Therapeutics

In related news, Director Roger Jeffs sold 286 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $246.18, for a total transaction of $70,407.48. Following the transaction, the director directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Nick Pizzie sold 33,000 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $240.09, for a total value of $7,922,970.00. Following the completion of the sale, the chief financial officer owned 42,867 shares in the company, valued at approximately $10,291,938.03. This trade represents a 43.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 194,766 shares of company stock worth $45,284,886 in the last three months. 20.60% of the stock is owned by company insiders.

Axsome Therapeutics Stock Down 3.5%

Shares of AXSM stock opened at $199.02 on Friday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.34 and a current ratio of 1.43. The firm’s 50-day moving average is $227.43 and its 200-day moving average is $206.72. The stock has a market cap of $10.42 billion, a price-to-earnings ratio of -53.07 and a beta of 0.65. Axsome Therapeutics, Inc. has a 52-week low of $112.90 and a 52-week high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). The business had revenue of $218.38 million for the quarter, compared to the consensus estimate of $221.11 million. Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%. Sell-side analysts predict that Axsome Therapeutics, Inc. will post -2.8 EPS for the current year.

Axsome Therapeutics Company 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.