Creative Planning Has $975,000 Stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Creative Planning boosted its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 29.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 10,854 shares of the company’s stock after buying an additional 2,489 shares during the period. Creative Planning’s holdings in Axsome Therapeutics were worth $975,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AXSM. Vanguard Group Inc. grew its position in shares of Axsome Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock valued at $298,474,000 after purchasing an additional 43,512 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Axsome Therapeutics by 1.4% in the second quarter. Millennium Management LLC now owns 739,819 shares of the company’s stock valued at $59,555,000 after buying an additional 10,401 shares during the period. Bellevue Group AG lifted its stake in shares of Axsome Therapeutics by 7.9% in the first quarter. Bellevue Group AG now owns 685,476 shares of the company’s stock valued at $54,701,000 after buying an additional 50,104 shares during the period. Hood River Capital Management LLC lifted its stake in shares of Axsome Therapeutics by 5.4% in the second quarter. Hood River Capital Management LLC now owns 549,066 shares of the company’s stock valued at $44,200,000 after buying an additional 28,316 shares during the period. Finally, Sofinnova Investments Inc. bought a new stake in shares of Axsome Therapeutics in the second quarter valued at about $24,971,000. 81.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on AXSM. UBS Group reduced their target price 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $107.00 target price on shares of Axsome Therapeutics in a research note on Monday, September 16th. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, October 1st. HC Wainwright restated a “buy” rating and set a $180.00 price target on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Finally, Royal Bank of Canada raised their price target on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $124.64.

Insider Activity at Axsome Therapeutics

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

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock opened at $88.84 on Friday. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.48 and a quick ratio of 2.40. The firm has a market cap of $4.22 billion, a P/E ratio of -13.62 and a beta of 1.26. The firm has a 50 day simple moving average of $90.20 and a 200 day simple moving average of $82.58. Axsome Therapeutics, Inc. has a fifty-two week low of $55.02 and a fifty-two week high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results 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. The business had revenue of $87.17 million during the quarter, compared to analyst estimates of $84.53 million. Axsome Therapeutics had a negative net margin of 105.85% and a negative return on equity of 117.46%. Sell-side analysts predict that Axsome Therapeutics, Inc. will post -5.12 earnings per share for the current fiscal 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.