American Century Companies Inc. Purchases New Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

American Century Companies Inc. bought a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,731 shares of the company’s stock, valued at approximately $570,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AXSM. Principal Financial Group Inc. raised its position in shares of Axsome Therapeutics by 6,002.7% during the fourth quarter. Principal Financial Group Inc. now owns 207,065 shares of the company’s stock worth $17,520,000 after acquiring an additional 203,672 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Axsome Therapeutics during the fourth quarter worth approximately $14,771,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Axsome Therapeutics in the fourth quarter valued at approximately $6,219,000. abrdn plc boosted its stake in Axsome Therapeutics by 553.3% in the fourth quarter. abrdn plc now owns 72,179 shares of the company’s stock valued at $6,107,000 after acquiring an additional 61,131 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in Axsome Therapeutics by 47.5% during the 3rd quarter. Franklin Resources Inc. now owns 160,534 shares of the company’s stock worth $13,713,000 after acquiring an additional 51,696 shares during the period. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Axsome Therapeutics Trading Up 2.5 %

NASDAQ:AXSM opened at $98.06 on Friday. The company has a market cap of $4.78 billion, a P/E ratio of -16.37 and a beta of 0.88. Axsome Therapeutics, Inc. has a twelve month low of $64.11 and a twelve month high of $139.13. The business has a 50 day moving average price of $119.51 and a two-hundred day moving average price of $101.99. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22.

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

Analyst Ratings Changes

AXSM has been the topic of a number of analyst reports. Truist Financial increased their price target on Axsome Therapeutics from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft assumed coverage on Axsome Therapeutics in a research note on Tuesday, February 11th. They issued a “buy” rating and a $176.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $153.00 target price on shares of Axsome Therapeutics in a research report on Tuesday, April 1st. HC Wainwright reiterated a “buy” rating and issued a $200.00 price target on shares of Axsome Therapeutics in a research report on Thursday, April 3rd. 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 research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $169.80.

Insider Activity

In related news, CFO Nick Pizzie sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares in the company, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 22.40% of the stock is currently owned by insiders.

Axsome Therapeutics 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.