Bellevue Group AG Reduces Stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Bellevue Group AG lessened its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 28.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 367,181 shares of the company’s stock after selling 149,352 shares during the quarter. Bellevue Group AG’s holdings in Axsome Therapeutics were worth $32,999,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Axsome Therapeutics in the 2nd quarter valued at $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Axsome Therapeutics during the second quarter valued at $47,000. Russell Investments Group Ltd. boosted its holdings in Axsome Therapeutics by 5,550.0% in the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock valued at $63,000 after purchasing an additional 777 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position 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 worth $156,000 after purchasing an additional 318 shares during the period. Finally, Moors & Cabot Inc. acquired a new stake in Axsome Therapeutics during the 3rd quarter worth about $200,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Axsome Therapeutics

In other news, Director Mark E. Saad sold 11,016 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the transaction, the director now directly owns 10,002 shares in the company, valued at $913,282.62. The trade was a 52.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 22.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. HC Wainwright restated a “buy” rating and issued a $180.00 target price on shares of Axsome Therapeutics in a research note on Monday, November 25th. Wells Fargo & Company began coverage on Axsome Therapeutics in a research report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price objective on the stock. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Bank of America upgraded shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the company from $95.00 to $106.00 in a research note on Tuesday, August 6th. Finally, UBS Group dropped their price target on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $124.93.

Axsome Therapeutics Price Performance

NASDAQ:AXSM opened at $98.22 on Friday. The stock has a 50 day moving average of $91.53 and a two-hundred day moving average of $85.88. Axsome Therapeutics, Inc. has a 12 month low of $64.11 and a 12 month high of $105.00. The firm has a market cap of $4.76 billion, a P/E ratio of -15.04 and a beta of 1.26. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) EPS 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 previous year, the business earned ($1.32) earnings per share. On average, analysts expect that Axsome Therapeutics, Inc. will post -4.66 earnings per share for the current fiscal 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.