Wellington Management Group LLP Buys 8,125 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Wellington Management Group LLP boosted its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 1.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 742,745 shares of the company’s stock after purchasing an additional 8,125 shares during the quarter. Wellington Management Group LLP owned about 1.53% of Axsome Therapeutics worth $66,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Axsome Therapeutics during the 2nd quarter valued at $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Axsome Therapeutics during the second quarter valued at about $47,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Axsome Therapeutics by 22.4% during the third 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 last quarter. Moors & Cabot Inc. purchased a new position in shares of Axsome Therapeutics in the 3rd quarter worth about $200,000. Finally, Whalen Wealth Management Inc. bought a new position in shares of Axsome Therapeutics during the 3rd quarter valued at about $236,000. 81.49% of the stock is currently owned by institutional investors.

Axsome Therapeutics Trading Down 0.9 %

NASDAQ AXSM opened at $98.82 on Wednesday. The stock has a market cap of $4.79 billion, a P/E ratio of -15.13 and a beta of 1.18. Axsome Therapeutics, Inc. has a fifty-two week low of $64.11 and a fifty-two week high of $105.00. The stock has a 50 day simple moving average of $92.80 and a two-hundred day simple moving average of $87.08. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating the consensus estimate of ($1.38) by $0.04. The business had revenue of $104.76 million for the quarter, compared to analysts’ expectations of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same quarter in the previous year, the business posted ($1.32) earnings per share. On average, analysts forecast that Axsome Therapeutics, Inc. will post -4.6 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on AXSM. Needham & Company LLC restated a “buy” rating and issued a $130.00 target price on shares of Axsome Therapeutics in a research report on Tuesday, November 12th. Robert W. Baird increased their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Royal Bank of Canada lifted their target price on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Cantor Fitzgerald restated an “overweight” rating and set a $107.00 price target on shares of Axsome Therapeutics in a research report on Monday, September 16th. Finally, HC Wainwright reiterated a “buy” rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a report on Monday, November 25th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $124.93.

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.