JPMorgan Chase & Co. Raises Stock Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

JPMorgan Chase & Co. lifted its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 14.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 212,110 shares of the company’s stock after acquiring an additional 27,534 shares during the period. JPMorgan Chase & Co.’s holdings in Axsome Therapeutics were worth $19,062,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Rhumbline Advisers increased its position in shares of Axsome Therapeutics by 5.1% during the second quarter. Rhumbline Advisers now owns 54,931 shares of the company’s stock worth $4,422,000 after purchasing an additional 2,674 shares in the last quarter. Arizona State Retirement System grew its stake in Axsome Therapeutics by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock worth $695,000 after buying an additional 177 shares during the last quarter. WINTON GROUP Ltd increased its position in Axsome Therapeutics by 156.6% during the second quarter. WINTON GROUP Ltd now owns 8,823 shares of the company’s stock worth $710,000 after buying an additional 5,385 shares during the period. Sofinnova Investments Inc. purchased a new stake in Axsome Therapeutics in the second quarter valued at approximately $24,971,000. Finally, XTX Topco Ltd boosted its holdings in shares of Axsome Therapeutics by 177.9% in the second quarter. XTX Topco Ltd now owns 11,205 shares of the company’s stock valued at $902,000 after acquiring an additional 7,173 shares during the period. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $82.57 on Friday. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. Axsome Therapeutics, Inc. has a 52-week low of $64.11 and a 52-week high of $105.00. The company has a 50-day simple moving average of $92.48 and a 200-day simple moving average of $89.04. The company has a market capitalization of $4.00 billion, a PE ratio of -12.64 and a beta of 1.04.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. The company had revenue of $104.76 million during the quarter, compared to analysts’ expectations 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 period last year, the company posted ($1.32) earnings per share. Equities research analysts predict that Axsome Therapeutics, Inc. will post -4.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AXSM shares. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Mizuho reduced their target price on shares of Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating for the company in a report on Tuesday, December 31st. Royal Bank of Canada boosted their price target on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Needham & Company LLC reissued a “buy” rating and issued a $133.00 target price on shares of Axsome Therapeutics in a report on Monday. Finally, Robert W. Baird increased their price target on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $127.29.

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.