Clearbridge Investments LLC Has $8.60 Million Stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Clearbridge Investments LLC lifted its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 19.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,767 shares of the company’s stock after purchasing an additional 17,397 shares during the quarter. Clearbridge Investments LLC owned 0.22% of Axsome Therapeutics worth $8,595,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. bought a new position in Axsome Therapeutics during the second quarter worth $27,000. EntryPoint Capital LLC bought a new stake in shares of Axsome Therapeutics in the first quarter valued at about $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Axsome Therapeutics in the second quarter valued at about $47,000. Russell Investments Group Ltd. raised its stake in Axsome Therapeutics by 5,550.0% in the 1st 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. Finally, Covestor Ltd grew its position in shares of Axsome Therapeutics by 54,750.0% during the 1st quarter. Covestor Ltd now owns 1,097 shares of the company’s stock worth $88,000 after purchasing an additional 1,095 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Insider Buying and Selling

In other news, Director Mark E. Saad sold 11,016 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the sale, the director now directly owns 10,002 shares in the company, valued at approximately $913,282.62. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 10,002 shares of the company’s stock, valued at approximately $913,282.62. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Mark L. Jacobson sold 47,739 shares of Axsome Therapeutics stock in a transaction 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 transaction, the chief operating officer now owns 5,783 shares in the company, valued at approximately $487,275.58. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 22.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AXSM. Mizuho reiterated a “buy” rating and issued a $106.00 price target on shares of Axsome Therapeutics in a research note on Wednesday, June 12th. Wells Fargo & Company started coverage on Axsome Therapeutics in a research report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 target price for the company. Bank of America raised Axsome Therapeutics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $95.00 to $106.00 in a research note on Tuesday, August 6th. UBS Group reduced their price objective on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Needham & Company LLC restated a “buy” rating and issued a $130.00 target price on shares of Axsome Therapeutics in a research report on Thursday, September 5th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $124.64.

Axsome Therapeutics Price Performance

AXSM stock opened at $86.59 on Friday. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of -13.57 and a beta of 1.26. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.48 and a quick ratio of 2.40. The company has a 50 day simple moving average of $89.04 and a 200 day simple moving average of $80.88. Axsome Therapeutics, Inc. has a 1 year low of $55.02 and a 1 year high of $98.40.

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