Axsome Therapeutics, Inc. (NASDAQ:AXSM) Shares Acquired by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P boosted its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 11.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 298,586 shares of the company’s stock after acquiring an additional 29,497 shares during the period. Loomis Sayles & Co. L P’s holdings in Axsome Therapeutics were worth $26,834,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in AXSM. Northwestern Mutual Wealth Management Co. bought a new stake in Axsome Therapeutics in the second quarter valued at about $27,000. EntryPoint Capital LLC bought a new stake in shares of Axsome Therapeutics in the 1st quarter valued at approximately $35,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Axsome Therapeutics in the 2nd quarter valued at approximately $47,000. Russell Investments Group Ltd. raised its position in shares of Axsome Therapeutics by 5,550.0% during the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock valued at $63,000 after acquiring an additional 777 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Axsome Therapeutics by 22.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock worth $156,000 after purchasing an additional 318 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on AXSM. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. UBS Group lowered their price objective on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $107.00 target price on shares of Axsome Therapeutics in a report on Monday, September 16th. Royal Bank of Canada upped their target price on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $130.00 price target on shares of Axsome Therapeutics in a report on Tuesday, November 12th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $124.93.

Insider Buying and Selling

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of Axsome Therapeutics stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the sale, the director now owns 10,002 shares in the company, valued at $913,282.62. The trade was a 52.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 22.40% of the stock is owned by company insiders.

Axsome Therapeutics Price Performance

Shares of Axsome Therapeutics stock opened at $97.50 on Tuesday. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of -14.93 and a beta of 1.26. Axsome Therapeutics, Inc. has a 1-year low of $61.14 and a 1-year high of $105.00. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. The firm has a fifty day simple moving average of $90.99 and a 200-day simple moving average of $85.13.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.04. The company had revenue of $104.76 million during the quarter, compared to analyst estimates of $98.71 million. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. During the same period in the previous year, the company earned ($1.32) earnings per share. On average, sell-side analysts expect that Axsome Therapeutics, Inc. will post -4.75 earnings per share for the current 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.