DnB Asset Management AS Has $6.24 Million Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

DnB Asset Management AS grew its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 1,100.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,770 shares of the company’s stock after acquiring an additional 67,626 shares during the period. DnB Asset Management AS owned 0.15% of Axsome Therapeutics worth $6,242,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. 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 worth $28,992,000 after purchasing an additional 12,778 shares during the last quarter. FMR LLC increased its stake in shares of Axsome Therapeutics by 20.6% in the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company’s stock valued at $97,786,000 after buying an additional 185,951 shares during the period. BNP Paribas Financial Markets raised its position in shares of Axsome Therapeutics by 71.7% during the third quarter. BNP Paribas Financial Markets now owns 13,733 shares of the company’s stock worth $1,234,000 after acquiring an additional 5,737 shares during the last quarter. Captrust Financial Advisors acquired a new position in shares of Axsome Therapeutics during the third quarter valued at $514,000. Finally, Fred Alger Management LLC bought a new position in Axsome Therapeutics in the third quarter valued at about $851,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Axsome Therapeutics Trading Down 2.7 %

NASDAQ AXSM opened at $118.53 on Monday. 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 current ratio of 2.11 and a quick ratio of 2.04. The firm has a market cap of $5.78 billion, a P/E ratio of -19.79 and a beta of 1.00. The stock’s 50-day moving average is $119.67 and its 200-day moving average is $101.22.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.01. The firm had revenue of $118.77 million for the quarter, compared to the consensus estimate 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 anticipate that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wells Fargo & Company upped their target price on shares of Axsome Therapeutics from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Needham & Company LLC restated a “buy” rating and issued a $153.00 price objective on shares of Axsome Therapeutics in a report on Monday, March 3rd. HC Wainwright reaffirmed a “buy” rating and set a $200.00 target price on shares of Axsome Therapeutics in a report on Thursday, March 6th. William Blair reissued an “outperform” rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. Finally, Leerink Partners lifted their price objective on Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a research note 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $167.64.

Insider Activity at Axsome Therapeutics

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 sale, the chief financial officer now owns 42,187 shares of the company’s stock, valued at $5,529,450.09. This trade represents a 6.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 22.40% of the stock is currently owned by insiders.

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.