Swiss National Bank Increases Stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Swiss National Bank grew its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,400 shares of the company’s stock after buying an additional 900 shares during the period. Swiss National Bank’s holdings in Axsome Therapeutics were worth $5,195,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of AXSM. JPMorgan Chase & Co. boosted its stake in Axsome Therapeutics by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock worth $19,062,000 after buying an additional 27,534 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Axsome Therapeutics during the 4th quarter valued at about $2,599,000. Raymond James Financial Inc. purchased a new stake in shares of Axsome Therapeutics in the fourth quarter valued at about $14,771,000. PDT Partners LLC acquired a new stake in Axsome Therapeutics during the third quarter worth about $1,052,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Axsome Therapeutics by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 328,034 shares of the company’s stock worth $27,755,000 after purchasing an additional 5,438 shares during the period. 81.49% of the stock is owned by hedge funds and other institutional investors.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM opened at $129.17 on Tuesday. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04. The company has a market cap of $6.30 billion, a price-to-earnings ratio of -21.56 and a beta of 1.00. The stock’s 50-day moving average is $117.35 and its two-hundred day moving average is $100.46. Axsome Therapeutics, Inc. has a 1-year low of $64.11 and a 1-year high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The firm had revenue of $118.77 million for the quarter, compared to analyst estimates of $117.83 million. Analysts forecast that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AXSM has been the subject of several analyst reports. HC Wainwright reissued a “buy” rating and issued a $200.00 price target on shares of Axsome Therapeutics in a research note on Thursday, March 6th. Truist Financial increased their price objective on Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Robert W. Baird upped their price target on Axsome Therapeutics from $132.00 to $160.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. Royal Bank of Canada increased their price target on Axsome Therapeutics from $143.00 to $192.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, Morgan Stanley boosted their price objective on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Axsome Therapeutics has an average rating of “Moderate Buy” and an average target price of $167.36.

Insider Transactions at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the transaction, the chief financial officer now directly owns 42,187 shares of the company’s stock, valued at $5,529,450.09. This represents a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 22.40% of the company’s stock.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company’s commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.