Axsome Therapeutics, Inc. (NASDAQ:AXSM) Stake Lifted by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC increased its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 90.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,745 shares of the company’s stock after purchasing an additional 6,546 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Axsome Therapeutics were worth $1,163,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Axsome Therapeutics during the second quarter worth approximately $27,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Axsome Therapeutics by 22.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after purchasing an additional 318 shares during the last quarter. Moors & Cabot Inc. acquired a new position in Axsome Therapeutics in the 3rd quarter valued at approximately $200,000. Whalen Wealth Management Inc. acquired a new position in shares of Axsome Therapeutics in the 3rd quarter valued at $236,000. Finally, Flower City Capital bought a new stake in shares of Axsome Therapeutics in the 4th quarter valued at approximately $254,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Mizuho upped their target price on shares of Axsome Therapeutics from $122.00 to $137.00 and gave the company an “outperform” rating in a research note on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $121.00 price target on shares of Axsome Therapeutics in a research note on Thursday, December 12th. Robert W. Baird lifted their price objective on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Truist Financial lifted their price objective on shares of Axsome Therapeutics from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Monday. One investment 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.00.

Axsome Therapeutics Stock Up 5.1 %

Shares of AXSM opened at $112.92 on Wednesday. The stock has a market capitalization of $5.47 billion, a PE ratio of -17.29 and a beta of 1.05. Axsome Therapeutics, Inc. has a 12 month low of $64.11 and a 12 month high of $113.33. 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 firm’s 50 day moving average is $94.09 and its 200-day moving average is $91.27.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, topping the consensus estimate of ($1.38) by $0.04. The firm had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. During the same period in the prior year, the company earned ($1.32) earnings per share. Equities research analysts forecast that Axsome Therapeutics, Inc. will post -4.72 EPS for the current year.

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.