Hennion & Walsh Asset Management Inc. Raises Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Hennion & Walsh Asset Management Inc. raised its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 14.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 69,483 shares of the company’s stock after acquiring an additional 8,867 shares during the period. Hennion & Walsh Asset Management Inc. owned approximately 0.15% of Axsome Therapeutics worth $5,545,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Perceptive Advisors LLC lifted its holdings in shares of Axsome Therapeutics by 115.5% during the 4th quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock valued at $82,616,000 after acquiring an additional 556,370 shares in the last quarter. Eventide Asset Management LLC purchased a new stake in shares of Axsome Therapeutics during the third quarter valued at approximately $24,232,000. Point72 Asset Management L.P. boosted its stake in shares of Axsome Therapeutics by 57.4% in the fourth quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock valued at $66,633,000 after purchasing an additional 305,264 shares during the period. First Turn Management LLC acquired a new stake in Axsome Therapeutics during the 4th quarter valued at $23,513,000. Finally, RTW Investments LP lifted its holdings in Axsome Therapeutics by 4.8% in the 3rd quarter. RTW Investments LP now owns 4,489,596 shares of the company’s stock worth $313,778,000 after buying an additional 205,319 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on AXSM shares. Truist Financial reiterated a “buy” rating and issued a $150.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, March 26th. Morgan Stanley upgraded Axsome Therapeutics from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $90.00 to $115.00 in a research note on Monday, April 29th. Royal Bank of Canada lifted their price target on shares of Axsome Therapeutics from $127.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 5th. Mizuho reiterated a “buy” rating and set a $106.00 price objective on shares of Axsome Therapeutics in a research note on Wednesday, June 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $190.00 target price on shares of Axsome Therapeutics in a research report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.08.

Insider Activity

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 24,662 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $77.24, for a total transaction of $1,904,892.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, COO Mark L. Jacobson sold 24,662 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $77.24, for a total value of $1,904,892.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Mark L. Jacobson sold 7,910 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $74.31, for a total transaction of $587,792.10. Following the completion of the sale, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at $429,734.73. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,821 shares of company stock valued at $2,887,462. Insiders own 22.40% of the company’s stock.

Axsome Therapeutics Trading Up 0.5 %

Shares of AXSM traded up $0.41 during midday trading on Friday, hitting $80.50. 1,432,706 shares of the stock traded hands, compared to its average volume of 845,745. The business’s 50 day moving average price is $74.98 and its two-hundred day moving average price is $78.68. The company has a debt-to-equity ratio of 1.25, a quick ratio of 3.09 and a current ratio of 3.20. Axsome Therapeutics, Inc. has a 1-year low of $55.02 and a 1-year high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Monday, May 6th. The company reported ($1.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.11. Axsome Therapeutics had a negative net margin of 118.07% and a negative return on equity of 87.17%. The firm had revenue of $75.00 million during the quarter, compared to analyst estimates of $69.91 million. Analysts forecast that Axsome Therapeutics, Inc. will post -4.7 earnings per share 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.