Hood River Capital Management LLC Boosts Stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Hood River Capital Management LLC raised its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 5.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 549,066 shares of the company’s stock after purchasing an additional 28,316 shares during the quarter. Hood River Capital Management LLC owned 1.16% of Axsome Therapeutics worth $44,200,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in AXSM. EntryPoint Capital LLC acquired a new position in Axsome Therapeutics during the 1st quarter worth about $35,000. Russell Investments Group Ltd. lifted its position in shares of Axsome Therapeutics by 5,550.0% during the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after purchasing an additional 777 shares in the last quarter. Covestor Ltd boosted its stake in shares of Axsome Therapeutics by 54,750.0% in the first quarter. Covestor Ltd now owns 1,097 shares of the company’s stock valued at $88,000 after purchasing an additional 1,095 shares during the period. Janiczek Wealth Management LLC acquired a new position in shares of Axsome Therapeutics in the first quarter valued at approximately $97,000. Finally, Natixis increased its stake in Axsome Therapeutics by 13.6% during the 1st quarter. Natixis now owns 1,235 shares of the company’s stock worth $99,000 after buying an additional 148 shares during the period. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Axsome Therapeutics Price Performance

Shares of AXSM opened at $95.84 on Monday. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.48 and a quick ratio of 2.40. Axsome Therapeutics, Inc. has a 1-year low of $55.02 and a 1-year high of $98.40. The stock has a market cap of $4.55 billion, a PE ratio of -15.02 and a beta of 1.25. The firm has a fifty day moving average price of $87.93 and a 200 day moving average price of $79.67.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Monday, August 5th. The company reported ($1.24) earnings per share for the quarter, beating the consensus estimate of ($1.30) by $0.06. The business had revenue of $87.17 million during the quarter, compared to the consensus estimate of $84.53 million. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%. As a group, sell-side analysts anticipate that Axsome Therapeutics, Inc. will post -4.73 EPS for the current year.

Analyst Upgrades and Downgrades

AXSM has been the subject of several research reports. Needham & Company LLC restated a “buy” rating and issued a $130.00 price target on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Wells Fargo & Company assumed coverage on Axsome Therapeutics in a research note on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 target price for the company. Bank of America upgraded Axsome Therapeutics from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $95.00 to $106.00 in a research note on Tuesday, August 6th. Cantor Fitzgerald restated an “overweight” rating and set a $107.00 target price on shares of Axsome Therapeutics in a research note on Monday, September 16th. Finally, HC Wainwright reiterated a “buy” rating and issued a $180.00 price target on shares of Axsome Therapeutics in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $124.57.

Insider Buying and Selling at Axsome Therapeutics

In other news, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the transaction, the director now directly owns 10,002 shares in the company, valued at $913,282.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Axsome Therapeutics news, COO Mark L. Jacobson sold 47,739 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the completion of the sale, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at approximately $487,275.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark E. Saad sold 11,016 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total value of $1,005,870.96. Following the completion of the transaction, the director now directly owns 10,002 shares in the company, valued at approximately $913,282.62. The disclosure for this sale can be found here. 22.40% of the stock is owned by company 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.