TD Asset Management Inc Has $2.22 Million Stake in Axsome Therapeutics, Inc. $AXSM

TD Asset Management Inc raised its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 136.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,278 shares of the company’s stock after buying an additional 12,294 shares during the period. TD Asset Management Inc’s holdings in Axsome Therapeutics were worth $2,221,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Axsome Therapeutics during the first quarter worth approximately $25,000. Quantbot Technologies LP acquired a new stake in shares of Axsome Therapeutics in the first quarter valued at approximately $31,000. AlphaQuest LLC acquired a new stake in shares of Axsome Therapeutics in the first quarter valued at approximately $38,000. Neo Ivy Capital Management acquired a new stake in shares of Axsome Therapeutics in the first quarter valued at approximately $41,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Axsome Therapeutics in the first quarter valued at approximately $47,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

Analysts Set New Price Targets

AXSM has been the subject of a number of research reports. Bank of America raised their price target on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Wells Fargo & Company raised shares of Axsome Therapeutics to a “strong-buy” rating in a report on Wednesday, September 3rd. Morgan Stanley raised their price target on shares of Axsome Therapeutics from $191.00 to $194.00 and gave the company an “overweight” rating in a report on Monday. Needham & Company LLC reissued a “buy” rating and issued a $150.00 price target on shares of Axsome Therapeutics in a report on Monday, August 4th. Finally, B. Riley initiated coverage on shares of Axsome Therapeutics in a report on Wednesday, October 1st. They issued a “buy” rating and a $179.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $178.20.

Insider Buying and Selling at Axsome Therapeutics

In other news, Director Mark Coleman purchased 1,575 shares of Axsome Therapeutics stock in a transaction dated Monday, September 8th. The shares were bought at an average cost of $127.28 per share, with a total value of $200,466.00. Following the completion of the transaction, the director directly owned 48,212 shares in the company, valued at $6,136,423.36. This trade represents a 3.38% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Mark L. Jacobson sold 10,000 shares of Axsome Therapeutics stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $115.96, for a total transaction of $1,159,600.00. The disclosure for this sale can be found here. Insiders sold a total of 243,332 shares of company stock worth $28,824,746 over the last quarter. 22.40% of the stock is currently owned by insiders.

Axsome Therapeutics Price Performance

AXSM opened at $131.39 on Wednesday. The company has a fifty day moving average price of $120.01 and a two-hundred day moving average price of $110.66. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.51 and a current ratio of 1.57. Axsome Therapeutics, Inc. has a 52 week low of $75.56 and a 52 week high of $139.13. The firm has a market capitalization of $6.56 billion, a PE ratio of -25.92 and a beta of 0.52.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, August 4th. The company reported ($0.92) EPS for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.08. Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. The firm had revenue of $150.04 million during the quarter, compared to analyst estimates of $140.02 million. As a group, analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

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.