Great Lakes Advisors LLC Reduces Stock Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Great Lakes Advisors LLC cut its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 19.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,508 shares of the company’s stock after selling 3,220 shares during the quarter. Great Lakes Advisors LLC’s holdings in Axsome Therapeutics were worth $1,143,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AXSM. Assetmark Inc. purchased a new stake in Axsome Therapeutics during the 4th quarter worth approximately $52,000. R Squared Ltd purchased a new stake in Axsome Therapeutics during the 4th quarter worth approximately $64,000. KBC Group NV increased its holdings in 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 during the last quarter. Moors & Cabot Inc. purchased a new stake in Axsome Therapeutics during the 3rd quarter worth approximately $200,000. Finally, Whalen Wealth Management Inc. purchased a new stake in Axsome Therapeutics during the 3rd quarter worth approximately $236,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Nick Pizzie sold 3,000 shares of the company’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 completion of the sale, the chief financial officer now directly owns 42,187 shares of the company’s stock, valued at $5,529,450.09. This represents a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 22.40% of the company’s stock.

Analyst Upgrades and Downgrades

AXSM has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Axsome Therapeutics in a report on Tuesday, February 11th. They issued a “buy” rating and a $176.00 price target for the company. Mizuho boosted their price target on Axsome Therapeutics from $195.00 to $212.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. William Blair reiterated an “outperform” rating on shares of Axsome Therapeutics in a report on Tuesday, February 18th. Robert W. Baird boosted their price target on Axsome Therapeutics from $132.00 to $160.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Finally, Leerink Partners boosted their price target on Axsome Therapeutics from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, February 10th. One research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $167.36.

Axsome Therapeutics Trading Up 0.2 %

Shares of Axsome Therapeutics stock opened at $121.91 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of -20.35 and a beta of 1.00. The business has a fifty day simple moving average of $112.25 and a 200-day simple moving average of $98.88. Axsome Therapeutics, Inc. has a fifty-two week low of $64.11 and a fifty-two week high of $139.13.

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