Checkpoint Capital L.P. Lowers Stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Checkpoint Capital L.P. decreased its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 27.9% in the third quarter, Holdings Channel reports. The firm owned 209,632 shares of the company’s stock after selling 81,140 shares during the quarter. Axsome Therapeutics comprises about 9.3% of Checkpoint Capital L.P.’s portfolio, making the stock its 5th biggest holding. Checkpoint Capital L.P.’s holdings in Axsome Therapeutics were worth $18,840,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Axsome Therapeutics in the 2nd quarter valued at $27,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Axsome Therapeutics during the 2nd quarter valued at about $47,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Axsome Therapeutics by 22.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after buying an additional 318 shares in the last quarter. Moors & Cabot Inc. bought a new stake in Axsome Therapeutics during the third quarter worth about $200,000. Finally, Whalen Wealth Management Inc. bought a new stake in Axsome Therapeutics during the third quarter worth about $236,000. 81.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the firm’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 transaction, the director now owns 10,002 shares in the company, valued at approximately $913,282.62. This trade represents a 52.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 22.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AXSM shares. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Needham & Company LLC restated a “buy” rating and set a $130.00 target price on shares of Axsome Therapeutics in a report on Tuesday, November 12th. Robert W. Baird raised their target price on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and set a $180.00 price target on shares of Axsome Therapeutics in a research report on Monday, November 25th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a research report on Monday, September 16th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Axsome Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $124.93.

Axsome Therapeutics Trading Down 1.4 %

AXSM opened at $98.22 on Monday. The firm has a 50 day simple moving average of $91.53 and a 200 day simple moving average of $85.95. Axsome Therapeutics, Inc. has a fifty-two week low of $64.11 and a fifty-two week high of $105.00. The company has a market cap of $4.76 billion, a price-to-earnings ratio of -15.04 and a beta of 1.26. 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 issued its earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, beating the consensus estimate 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 company had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. During the same quarter in the previous year, the company posted ($1.32) EPS. On average, sell-side analysts anticipate that Axsome Therapeutics, Inc. will post -4.58 earnings per share for the current year.

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.