Eagle Health Investments LP Acquires New Stake in Axsome Therapeutics, Inc. $AXSM

Eagle Health Investments LP acquired a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 65,051 shares of the company’s stock, valued at approximately $15,923,000. Axsome Therapeutics accounts for approximately 2.6% of Eagle Health Investments LP’s holdings, making the stock its 15th biggest holding.

A number of other large investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Axsome Therapeutics in the 2nd quarter worth $759,695,000. Price T Rowe Associates Inc. MD increased its stake in shares of Axsome Therapeutics by 45.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock worth $275,763,000 after acquiring an additional 472,422 shares during the period. Wellington Management Group LLP increased its stake in shares of Axsome Therapeutics by 84.1% during the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock worth $162,082,000 after acquiring an additional 609,516 shares during the period. Invesco Ltd. raised its holdings in Axsome Therapeutics by 28.6% during the fourth quarter. Invesco Ltd. now owns 1,273,494 shares of the company’s stock worth $232,591,000 after purchasing an additional 282,937 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Axsome Therapeutics by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 1,010,249 shares of the company’s stock valued at $184,544,000 after purchasing an additional 12,549 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Trading Up 1.2%

Shares of AXSM opened at $218.20 on Thursday. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 1.52. The firm’s 50-day moving average is $233.99 and its two-hundred day moving average is $205.84. Axsome Therapeutics, Inc. has a twelve month low of $111.54 and a twelve month high of $260.19. The firm has a market capitalization of $11.43 billion, a P/E ratio of -58.19 and a beta of 0.65.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). The company had revenue of $218.38 million for the quarter, compared to analyst estimates of $221.11 million. Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. On average, research analysts predict that Axsome Therapeutics, Inc. will post -2.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AXSM. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Axsome Therapeutics in a report on Friday, July 17th. Truist Financial raised Axsome Therapeutics to a “strong-buy” rating in a research note on Monday, June 15th. Deutsche Bank Aktiengesellschaft set a $280.00 price target on Axsome Therapeutics in a report on Tuesday, May 5th. Piper Sandler reaffirmed an “overweight” rating and set a $258.00 price objective on shares of Axsome Therapeutics in a report on Monday, May 4th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, June 11th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.60.

Insider Buying and Selling at Axsome Therapeutics

In related news, Director Susan Mahony sold 300 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total transaction of $71,163.00. Following the sale, the director owned 1,129 shares of the company’s stock, valued at $267,810.09. This trade represents a 20.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Nick Pizzie sold 33,000 shares of Axsome Therapeutics stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $240.09, for a total value of $7,922,970.00. Following the sale, the chief financial officer owned 42,867 shares of the company’s stock, valued at approximately $10,291,938.03. This represents a 43.50% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 200,766 shares of company stock worth $46,685,646. 20.60% of the stock is currently owned by insiders.

Axsome Therapeutics Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.