Axsome Therapeutics, Inc. (NASDAQ:AXSM) Position Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 48.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,393 shares of the company’s stock after selling 3,161 shares during the quarter. Principal Financial Group Inc.’s holdings in Axsome Therapeutics were worth $305,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Axsome Therapeutics during the 2nd quarter valued at $27,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Axsome Therapeutics in the 2nd quarter worth approximately $47,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Axsome Therapeutics by 22.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after purchasing an additional 318 shares during the last quarter. Moors & Cabot Inc. bought a new position in Axsome Therapeutics during the third quarter valued at about $200,000. Finally, Whalen Wealth Management Inc. acquired a new position in shares of Axsome Therapeutics in the third quarter valued at $236,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $85.13 on Tuesday. Axsome Therapeutics, Inc. has a one year low of $64.11 and a one year high of $105.00. The company has a market cap of $4.13 billion, a PE ratio of -13.04 and a beta of 1.04. The firm has a 50-day moving average of $92.75 and a 200-day moving average of $89.03. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The business had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. During the same quarter in the prior year, the business earned ($1.32) EPS. As a group, equities analysts forecast that Axsome Therapeutics, Inc. will post -4.6 earnings per share for the current year.

Wall Street Analyst Weigh In

AXSM has been the topic of several analyst reports. StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Royal Bank of Canada upped their target price on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $121.00 price objective on shares of Axsome Therapeutics in a report on Thursday, December 12th. Needham & Company LLC reissued a “buy” rating and issued a $133.00 price target on shares of Axsome Therapeutics in a report on Monday. Finally, Mizuho cut their price target on shares of Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 31st. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Axsome Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $127.29.

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.