Strategic Financial Concepts LLC Takes Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Strategic Financial Concepts LLC bought a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 30,713 shares of the company’s stock, valued at approximately $2,599,000.

Other large investors have also modified their holdings of the company. Creative Planning raised its position in Axsome Therapeutics by 15.9% in the 2nd quarter. Creative Planning now owns 8,365 shares of the company’s stock valued at $673,000 after purchasing an additional 1,149 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Axsome Therapeutics in the second quarter valued at about $27,000. Values First Advisors Inc. purchased a new stake in Axsome Therapeutics in the 3rd quarter valued at approximately $568,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Axsome Therapeutics by 22.4% in the 3rd 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 during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Axsome Therapeutics by 4.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,808 shares of the company’s stock valued at $1,780,000 after buying an additional 754 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Mizuho increased their price objective on Axsome Therapeutics from $122.00 to $137.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Robert W. Baird boosted their price objective on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Royal Bank of Canada restated an “outperform” rating and set a $139.00 target price on shares of Axsome Therapeutics in a research report on Wednesday, January 29th. Finally, Truist Financial lifted their price target on shares of Axsome Therapeutics from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. One investment 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 target price of $134.00.

Axsome Therapeutics Stock Down 3.4 %

Shares of NASDAQ:AXSM opened at $105.76 on Monday. 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 $5.13 billion, a P/E ratio of -16.20 and a beta of 1.05. Axsome Therapeutics, Inc. has a 52-week low of $64.11 and a 52-week high of $114.06. The stock’s fifty day simple moving average is $94.72 and its 200-day simple moving average is $91.78.

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, 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 company had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. During the same period in the prior year, the firm earned ($1.32) EPS. As a group, equities research analysts forecast that Axsome Therapeutics, Inc. will post -4.7 earnings per share for the current fiscal year.

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.