Royce & Associates LP Boosts Stock Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Royce & Associates LP lifted its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 64.4% during the fourth quarter, Holdings Channel reports. The fund owned 37,000 shares of the company’s stock after acquiring an additional 14,500 shares during the period. Royce & Associates LP’s holdings in Axsome Therapeutics were worth $3,131,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Assetmark Inc. purchased a new stake in shares of Axsome Therapeutics during the fourth quarter worth $52,000. R Squared Ltd acquired a new position in shares of Axsome Therapeutics during the fourth quarter worth $64,000. KBC Group NV grew its stake in shares of Axsome Therapeutics by 40.5% during the fourth 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. Moors & Cabot Inc. acquired a new position in shares of Axsome Therapeutics during the third quarter worth $200,000. Finally, Flower City Capital acquired a new position in shares of Axsome Therapeutics during the fourth quarter worth $254,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Price Performance

Shares of NASDAQ:AXSM opened at $125.90 on Thursday. The company has a 50-day simple moving average of $114.75 and a 200-day simple moving average of $99.65. Axsome Therapeutics, Inc. has a one year low of $64.11 and a one year 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. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of -21.02 and a beta of 0.99.

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

Analyst Ratings Changes

A number of equities analysts recently commented on AXSM shares. Mizuho boosted their target price on shares of Axsome Therapeutics from $195.00 to $212.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Wells Fargo & Company boosted their target price on shares of Axsome Therapeutics from $140.00 to $160.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Royal Bank of Canada boosted their target price on shares of Axsome Therapeutics from $143.00 to $192.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Truist Financial boosted their target price on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, Needham & Company LLC restated a “buy” rating and issued a $153.00 price objective on shares of Axsome Therapeutics in a research note on Monday, March 3rd. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Axsome Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $167.36.

Insider Activity at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 22.40% of the stock is owned by insiders.

About Axsome Therapeutics

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.