Mirae Asset Global Investments Co. Ltd. Raises Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 22.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,736 shares of the company’s stock after buying an additional 318 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Axsome Therapeutics were worth $156,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Natixis raised its position in shares of Axsome Therapeutics by 13.6% in the 1st quarter. Natixis now owns 1,235 shares of the company’s stock worth $99,000 after acquiring an additional 148 shares in the last quarter. Arizona State Retirement System grew its stake in Axsome Therapeutics by 2.1% in the second quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock valued at $695,000 after purchasing an additional 177 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in Axsome Therapeutics in the second quarter worth about $27,000. EntryPoint Capital LLC purchased a new stake in shares of Axsome Therapeutics during the first quarter valued at about $35,000. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Axsome Therapeutics by 9.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 5,780 shares of the company’s stock valued at $461,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AXSM shares. UBS Group reduced their price objective on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. HC Wainwright reiterated a “buy” rating and set a $180.00 price objective on shares of Axsome Therapeutics in a report on Thursday, September 5th. Needham & Company LLC restated a “buy” rating and set a $130.00 target price on shares of Axsome Therapeutics in a research note on Thursday, September 5th. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, October 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $107.00 price target on shares of Axsome Therapeutics in a report on Monday, September 16th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $124.64.

Insider Activity at Axsome Therapeutics

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

Axsome Therapeutics Trading Down 1.8 %

Shares of Axsome Therapeutics stock opened at $87.25 on Tuesday. The stock has a market cap of $4.14 billion, a PE ratio of -13.40 and a beta of 1.26. The firm has a fifty day moving average price of $90.19 and a 200 day moving average price of $83.07. Axsome Therapeutics, Inc. has a 1 year low of $55.02 and a 1 year high of $98.40. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.48 and a quick ratio of 2.40.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Monday, August 5th. The company reported ($1.24) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $87.17 million during the quarter, compared to analyst estimates of $84.53 million. Equities research analysts predict that Axsome Therapeutics, Inc. will post -5.12 earnings per share for the current year.

About Axsome Therapeutics

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.