Axsome Therapeutics, Inc. (NASDAQ:AXSM) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 4.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,901 shares of the company’s stock after purchasing an additional 999 shares during the period. The Manufacturers Life Insurance Company’s holdings in Axsome Therapeutics were worth $1,844,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AXSM. Perceptive Advisors LLC raised its position in shares of Axsome Therapeutics by 115.5% in the 4th quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock worth $82,616,000 after buying an additional 556,370 shares during the period. Sofinnova Investments Inc. purchased a new position in shares of Axsome Therapeutics in the 2nd quarter worth about $24,971,000. Point72 Asset Management L.P. raised its holdings in shares of Axsome Therapeutics by 57.4% in the 4th quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock worth $66,633,000 after purchasing an additional 305,264 shares during the period. Tri Locum Partners LP grew its holdings in shares of Axsome Therapeutics by 198.4% during the 2nd quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock worth $24,674,000 after purchasing an additional 203,802 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Axsome Therapeutics during the 1st quarter worth about $11,036,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $83.54 on Thursday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.40 and a current ratio of 2.48. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of -13.09 and a beta of 1.26. Axsome Therapeutics, Inc. has a one year low of $55.02 and a one year high of $98.40. The company’s 50-day simple moving average is $88.96 and its 200-day simple moving average is $80.97.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Monday, August 5th. The company reported ($1.24) EPS for the quarter, topping the consensus estimate of ($1.30) by $0.06. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%. The company had revenue of $87.17 million during the quarter, compared to analyst estimates of $84.53 million. Equities analysts anticipate that Axsome Therapeutics, Inc. will post -4.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AXSM. Bank of America raised shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and lifted their price target for the company from $95.00 to $106.00 in a research report on Tuesday, August 6th. UBS Group reduced their price objective on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, October 1st. Mizuho reissued a “buy” rating and set a $106.00 price target on shares of Axsome Therapeutics in a research report on Wednesday, June 12th. Finally, Wells Fargo & Company started coverage on shares of Axsome Therapeutics in a research report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.64.

Insiders Place Their Bets

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the sale, the director now directly owns 10,002 shares of the company’s stock, valued at approximately $913,282.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the completion of the transaction, the director now directly owns 10,002 shares of the company’s stock, valued at approximately $913,282.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mark L. Jacobson sold 47,739 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $84.26, for a total value of $4,022,488.14. Following the sale, the chief operating officer now owns 5,783 shares in the company, valued at $487,275.58. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.40% of the stock is currently owned by corporate 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.