Loomis Sayles & Co. L P Acquires 29,497 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Loomis Sayles & Co. L P grew its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 11.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 298,586 shares of the company’s stock after purchasing an additional 29,497 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.63% of Axsome Therapeutics worth $26,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Sofinnova Investments Inc. purchased a new stake in Axsome Therapeutics in the 2nd quarter worth $24,971,000. Tri Locum Partners LP lifted its position in shares of Axsome Therapeutics by 198.4% in the second quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock worth $24,674,000 after buying an additional 203,802 shares in the last quarter. Artal Group S.A. bought a new position in Axsome Therapeutics during the first quarter valued at approximately $6,132,000. Vanguard Group Inc. grew its holdings in shares of Axsome Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock valued at $298,474,000 after purchasing an additional 43,512 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Axsome Therapeutics in the 2nd quarter worth $2,735,000. 81.49% of the stock is currently owned by institutional investors.

Axsome Therapeutics Stock Down 1.2 %

Shares of NASDAQ:AXSM opened at $97.50 on Tuesday. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $4.72 billion, a P/E ratio of -14.93 and a beta of 1.26. Axsome Therapeutics, Inc. has a 52-week low of $61.14 and a 52-week high of $105.00. The stock’s fifty day simple moving average is $90.99 and its 200-day simple moving average is $85.13.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.38) by $0.04. The business had revenue of $104.76 million for the quarter, compared to analysts’ expectations of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same period last year, the company earned ($1.32) earnings per share. As a group, equities research analysts forecast that Axsome Therapeutics, Inc. will post -4.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the business’s stock in a transaction 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 transaction, the director now owns 10,002 shares in the company, valued at $913,282.62. The trade was a 52.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 22.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AXSM shares. UBS Group cut their target price on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Royal Bank of Canada increased their price objective on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $107.00 target price on shares of Axsome Therapeutics in a research note on Monday, September 16th. HC Wainwright restated a “buy” rating and set a $180.00 target price on shares of Axsome Therapeutics in a research note on Monday. Finally, Robert W. Baird boosted their price target on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $124.93.

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.