Cynosure Group LLC Reduces Stock Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Cynosure Group LLC cut its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 17.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,547 shares of the company’s stock after selling 1,383 shares during the quarter. Cynosure Group LLC’s holdings in Axsome Therapeutics were worth $554,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Axsome Therapeutics by 20.6% during the third quarter. FMR LLC now owns 1,088,087 shares of the company’s stock valued at $97,786,000 after acquiring an additional 185,951 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Axsome Therapeutics by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 912,538 shares of the company’s stock worth $77,228,000 after buying an additional 4,079 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Axsome Therapeutics by 1.1% during the third quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock worth $66,750,000 after buying an additional 8,125 shares during the period. Norges Bank purchased a new stake in shares of Axsome Therapeutics during the fourth quarter valued at $34,100,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Axsome Therapeutics by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 328,034 shares of the company’s stock valued at $27,755,000 after acquiring an additional 5,438 shares during the period. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AXSM. Morgan Stanley boosted their price target on Axsome Therapeutics from $125.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Robert W. Baird upped their target price on Axsome Therapeutics from $132.00 to $160.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Bank of America lifted their price objective on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Needham & Company LLC reiterated a “buy” rating and issued a $153.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday. Finally, Leerink Partners boosted their target price on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. One research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.64.

Axsome Therapeutics Trading Down 1.7 %

Shares of NASDAQ:AXSM opened at $109.75 on Thursday. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04. The business’s 50 day moving average price is $120.62 and its 200-day moving average price is $101.58. The firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of -18.32 and a beta of 0.88. Axsome Therapeutics, Inc. has a 1 year low of $64.11 and a 1 year high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The business had revenue of $118.77 million during the quarter, compared to analysts’ expectations of $117.83 million. On average, equities research analysts forecast that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the transaction, the chief financial officer now owns 42,187 shares in the company, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 22.40% of the stock is owned by company insiders.

Axsome Therapeutics 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.