Axsome Therapeutics, Inc. $AXSM Stake Decreased by Alethea Capital Management LLC

Alethea Capital Management LLC lowered its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 9.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 667,368 shares of the company’s stock after selling 66,949 shares during the quarter. Axsome Therapeutics comprises about 58.1% of Alethea Capital Management LLC’s portfolio, making the stock its largest position. Alethea Capital Management LLC’s holdings in Axsome Therapeutics were worth $77,835,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in AXSM. Assenagon Asset Management S.A. increased its stake in Axsome Therapeutics by 16,852.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 627,418 shares of the company’s stock worth $73,176,000 after buying an additional 623,717 shares during the period. Boxer Capital Management LLC purchased a new position in Axsome Therapeutics in the 4th quarter worth about $39,767,000. Lazard Asset Management LLC increased its stake in Axsome Therapeutics by 525.7% in the 4th quarter. Lazard Asset Management LLC now owns 537,669 shares of the company’s stock worth $45,492,000 after buying an additional 451,737 shares during the period. Nuveen LLC purchased a new position in Axsome Therapeutics in the 1st quarter worth about $48,185,000. Finally, BVF Inc. IL increased its stake in Axsome Therapeutics by 32.7% in the 4th quarter. BVF Inc. IL now owns 1,388,064 shares of the company’s stock worth $117,444,000 after buying an additional 342,064 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AXSM. Morgan Stanley began coverage on shares of Axsome Therapeutics in a research note on Thursday, July 3rd. They issued an “overweight” rating and a $190.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $180.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, June 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 price target on shares of Axsome Therapeutics in a research note on Monday, August 4th. Cantor Fitzgerald raised shares of Axsome Therapeutics to a “strong-buy” rating in a research report on Wednesday, May 14th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $165.00 target price (up previously from $160.00) on shares of Axsome Therapeutics in a research report on Tuesday, May 6th. One analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $178.00.

Insider Transactions at Axsome Therapeutics

In other news, General Counsel Hunter R. Murdock sold 7,500 shares of Axsome Therapeutics stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $100.26, for a total value of $751,950.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mark Coleman sold 3,750 shares of Axsome Therapeutics stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $105.47, for a total transaction of $395,512.50. Following the completion of the transaction, the director directly owned 50,387 shares in the company, valued at approximately $5,314,316.89. The trade was a 6.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,437 shares of company stock valued at $9,511,745 in the last 90 days. Insiders own 22.30% of the company’s stock.

Axsome Therapeutics Trading Up 5.1%

NASDAQ AXSM opened at $116.99 on Thursday. The company’s 50-day simple moving average is $105.85 and its two-hundred day simple moving average is $111.08. 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 one year low of $75.56 and a one year high of $139.13. The company has a market capitalization of $5.84 billion, a price-to-earnings ratio of -23.07 and a beta of 0.51.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Monday, August 4th. The company reported ($0.92) earnings per share (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 for the quarter, compared to the consensus estimate of $140.02 million. 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.