Clearbridge Investments LLC Sells 1,159 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Clearbridge Investments LLC trimmed its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 113,077 shares of the company’s stock after selling 1,159 shares during the period. Clearbridge Investments LLC’s holdings in Axsome Therapeutics were worth $9,567,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in Axsome Therapeutics by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 322,596 shares of the company’s stock valued at $28,992,000 after buying an additional 12,778 shares during the last quarter. FMR LLC grew its stake in shares of Axsome Therapeutics by 20.6% during the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company’s stock worth $97,786,000 after acquiring an additional 185,951 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Axsome Therapeutics by 71.7% in the third quarter. BNP Paribas Financial Markets now owns 13,733 shares of the company’s stock valued at $1,234,000 after purchasing an additional 5,737 shares during the last quarter. Captrust Financial Advisors bought a new stake in shares of Axsome Therapeutics in the third quarter worth $514,000. Finally, Erste Asset Management GmbH acquired a new position in Axsome Therapeutics during the third quarter worth $986,000. 81.49% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $131.07, for a total value 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. The trade was a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 22.40% of the company’s stock.

Axsome Therapeutics Stock Down 1.7 %

Shares of NASDAQ AXSM opened at $109.75 on Thursday. The stock has a market capitalization of $5.35 billion, a P/E ratio of -18.32 and a beta of 0.88. The stock’s fifty day moving average is $120.62 and its 200 day moving average is $101.58. Axsome Therapeutics, Inc. has a 52 week low of $64.11 and a 52 week high of $139.13. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11.

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

Analysts Set New Price Targets

Several brokerages have issued reports on AXSM. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Axsome Therapeutics in a research report on Tuesday, February 11th. They set a “buy” rating and a $176.00 price target on the stock. Robert W. Baird upped their target price on Axsome Therapeutics from $132.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Mizuho raised their price target on Axsome Therapeutics from $212.00 to $216.00 and gave the company an “outperform” rating in a research note on Thursday, March 27th. Morgan Stanley upped their price objective on Axsome Therapeutics from $125.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Finally, 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. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Axsome Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $167.64.

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.