Principal Financial Group Inc. Sells 3,161 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Principal Financial Group Inc. decreased its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 48.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,393 shares of the company’s stock after selling 3,161 shares during the period. Principal Financial Group Inc.’s holdings in Axsome Therapeutics were worth $305,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AXSM. Northwestern Mutual Wealth Management Co. acquired a new position in Axsome Therapeutics in the 2nd quarter valued at approximately $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Axsome Therapeutics during the 2nd quarter valued at $47,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Axsome Therapeutics by 22.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after buying an additional 318 shares during the period. Moors & Cabot Inc. bought a new stake in shares of Axsome Therapeutics during the third quarter valued at approximately $200,000. Finally, Whalen Wealth Management Inc. acquired a new position in Axsome Therapeutics during the third quarter worth $236,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AXSM. Royal Bank of Canada increased their target price on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Robert W. Baird raised their price objective on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Cantor Fitzgerald reissued an “overweight” rating and set a $121.00 price objective on shares of Axsome Therapeutics in a report on Thursday, December 12th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Axsome Therapeutics in a research note on Tuesday, December 31st. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.29.

Axsome Therapeutics Trading Down 1.5 %

NASDAQ:AXSM opened at $85.13 on Tuesday. The company has a 50-day moving average price of $92.75 and a 200-day moving average price of $89.03. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of -13.04 and a beta of 1.04. Axsome Therapeutics, Inc. has a 12 month low of $64.11 and a 12 month high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping the consensus estimate of ($1.38) by $0.04. The business had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same quarter in the previous year, the firm posted ($1.32) earnings per share. Equities analysts predict that Axsome Therapeutics, Inc. will post -4.6 EPS for the current year.

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.