Pictet Asset Management Holding SA Has $70.31 Million Stock Holdings in Axsome Therapeutics, Inc. $AXSM

Pictet Asset Management Holding SA trimmed its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 4.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 415,983 shares of the company’s stock after selling 20,080 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Axsome Therapeutics were worth $70,306,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP lifted its stake in shares of Axsome Therapeutics by 84.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock worth $162,082,000 after buying an additional 609,516 shares during the last quarter. Norges Bank bought a new position in Axsome Therapeutics in the 4th quarter valued at about $90,490,000. Price T Rowe Associates Inc. MD raised its holdings in Axsome Therapeutics by 45.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock valued at $275,763,000 after acquiring an additional 472,422 shares during the period. Invesco Ltd. lifted its position in Axsome Therapeutics by 73.3% during the third quarter. Invesco Ltd. now owns 990,557 shares of the company’s stock worth $120,303,000 after acquiring an additional 419,008 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its position in Axsome Therapeutics by 831.2% during the second quarter. Adage Capital Partners GP L.L.C. now owns 447,000 shares of the company’s stock worth $46,662,000 after acquiring an additional 399,000 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft set a $280.00 target price on Axsome Therapeutics in a research report on Tuesday, May 5th. Needham & Company LLC boosted their price target on Axsome Therapeutics from $225.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Guggenheim upped their price objective on Axsome Therapeutics from $245.00 to $260.00 and gave the company a “buy” rating in a report on Monday, May 4th. UBS Group increased their price objective on Axsome Therapeutics from $251.00 to $259.00 and gave the stock a “buy” rating in a research report on Friday, April 10th. Finally, Robert W. Baird boosted their target price on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $258.95.

Axsome Therapeutics Stock Down 0.2%

NASDAQ AXSM opened at $241.12 on Tuesday. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 2.27. The company has a market cap of $12.41 billion, a price-to-earnings ratio of -64.64 and a beta of 0.61. The company has a 50 day moving average of $226.34 and a 200-day moving average of $189.73. Axsome Therapeutics, Inc. has a 1-year low of $96.09 and a 1-year high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, May 4th. The company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). The company had revenue of $191.20 million for the quarter, compared to the consensus estimate of $191.10 million. Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The business’s revenue was up 57.4% on a year-over-year basis. On average, equities research analysts expect that Axsome Therapeutics, Inc. will post -2.31 earnings per share for the current fiscal year.

Insider Activity at Axsome Therapeutics

In related news, CEO Herriot Tabuteau sold 49,670 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $241.01, for a total value of $11,970,966.70. Following the completion of the transaction, the chief executive officer owned 7,229 shares of the company’s stock, valued at $1,742,261.29. The trade was a 87.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Roger Jeffs sold 286 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $246.18, for a total transaction of $70,407.48. Following the sale, the director directly owned 58,653 shares of the company’s stock, valued at $14,439,195.54. This represents a 0.49% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 113,686 shares of company stock worth $26,666,006 in the last quarter. 20.60% of the stock is currently owned by corporate insiders.

Axsome Therapeutics Company 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.