DnB Asset Management AS Acquires 67,626 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

DnB Asset Management AS raised its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 1,100.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 73,770 shares of the company’s stock after acquiring an additional 67,626 shares during the quarter. DnB Asset Management AS’s holdings in Axsome Therapeutics were worth $6,242,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AXSM. Assetmark Inc. acquired a new stake in shares of Axsome Therapeutics in the fourth quarter valued at about $52,000. R Squared Ltd bought a new position in Axsome Therapeutics in the fourth quarter valued at approximately $64,000. KBC Group NV raised its stake in shares of Axsome Therapeutics by 40.5% during the 4th quarter. KBC Group NV now owns 1,336 shares of the company’s stock worth $113,000 after purchasing an additional 385 shares in the last quarter. Xponance Inc. raised its stake in shares of Axsome Therapeutics by 11.6% during the 4th quarter. Xponance Inc. now owns 2,659 shares of the company’s stock worth $225,000 after purchasing an additional 277 shares in the last quarter. Finally, Corient Private Wealth LLC acquired a new stake in shares of Axsome Therapeutics in the 4th quarter valued at approximately $239,000. 81.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Bank of America upped their price target on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $153.00 target price on shares of Axsome Therapeutics in a report on Monday, March 3rd. Leerink Partners raised their target price on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday, February 10th. Truist Financial boosted their price target on Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Morgan Stanley raised their price objective on Axsome Therapeutics from $125.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $167.64.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the transaction, the chief financial officer now owns 42,187 shares in the company, valued at $5,529,450.09. This trade represents a 6.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 22.40% of the company’s stock.

Axsome Therapeutics Stock Performance

AXSM opened at $118.53 on Monday. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04. The business has a fifty day simple moving average of $119.67 and a 200 day simple moving average of $101.22. Axsome Therapeutics, Inc. has a 1 year low of $64.11 and a 1 year high of $139.13. The company has a market capitalization of $5.78 billion, a PE ratio of -19.79 and a beta of 1.00.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. The company had revenue of $118.77 million during the quarter, compared to the consensus estimate of $117.83 million. Research analysts expect that Axsome Therapeutics, Inc. will post -2.79 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.