Avantax Advisory Services Inc. Makes New Investment in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Avantax Advisory Services Inc. bought a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,106 shares of the company’s stock, valued at approximately $246,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Mutual of America Capital Management LLC boosted its holdings in Axsome Therapeutics by 0.3% in the first quarter. Mutual of America Capital Management LLC now owns 39,623 shares of the company’s stock worth $4,621,000 after acquiring an additional 136 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in Axsome Therapeutics by 4.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,852 shares of the company’s stock worth $326,000 after acquiring an additional 162 shares in the last quarter. GF Fund Management CO. LTD. boosted its holdings in Axsome Therapeutics by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 1,241 shares of the company’s stock worth $145,000 after acquiring an additional 223 shares in the last quarter. Xponance Inc. boosted its holdings in Axsome Therapeutics by 8.7% in the first quarter. Xponance Inc. now owns 2,891 shares of the company’s stock worth $337,000 after acquiring an additional 232 shares in the last quarter. Finally, NBC Securities Inc. bought a new stake in Axsome Therapeutics in the first quarter worth $31,000. 81.49% of the stock is owned by institutional investors.

Axsome Therapeutics Stock Up 0.5%

Axsome Therapeutics stock opened at $104.80 on Friday. The stock has a market cap of $5.23 billion, a PE ratio of -20.67 and a beta of 0.51. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.96 and a current ratio of 1.57. Axsome Therapeutics, Inc. has a one year low of $75.56 and a one year high of $139.13. The stock has a fifty day moving average of $105.86 and a 200 day moving average of $110.79.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, August 4th. The company reported ($0.92) EPS for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.08. The company had revenue of $150.04 million during the quarter, compared to analysts’ expectations of $140.02 million. Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%. As a group, sell-side analysts predict that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. HC Wainwright reissued a “buy” rating and issued a $180.00 target price on shares of Axsome Therapeutics in a report on Tuesday, June 10th. Robert W. Baird upped their price target on Axsome Therapeutics from $160.00 to $162.00 and gave the company an “outperform” rating in a report on Tuesday, May 6th. Morgan Stanley assumed coverage on Axsome Therapeutics in a report on Thursday, July 3rd. They set an “overweight” rating and a $190.00 price target on the stock. Cantor Fitzgerald raised Axsome Therapeutics to a “strong-buy” rating in a report on Wednesday, May 14th. Finally, Royal Bank Of Canada upped their price target on Axsome Therapeutics from $184.00 to $189.00 and gave the company an “outperform” rating in a report on Tuesday. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $178.00.

Insiders Place Their Bets

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 25,000 shares of the company’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $110.44, for a total value of $2,761,000.00. Following the completion of the sale, the chief operating officer owned 5,783 shares in the company, valued at $638,674.52. This represents a 81.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mark Coleman sold 3,750 shares of the company’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $105.47, for a total value of $395,512.50. Following the completion of the sale, the director owned 50,387 shares of the company’s stock, valued at approximately $5,314,316.89. The trade was a 6.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,437 shares of company stock worth $9,834,215 over the last quarter. 22.30% of the stock is currently owned by corporate insiders.

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.