Franklin Resources Inc. Acquires 51,696 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Franklin Resources Inc. raised its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 47.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 160,534 shares of the company’s stock after buying an additional 51,696 shares during the period. Franklin Resources Inc.’s holdings in Axsome Therapeutics were worth $13,713,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of AXSM. FMR LLC boosted its holdings in Axsome Therapeutics by 20.6% during the 3rd 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 during the period. Geode Capital Management LLC lifted its position in Axsome Therapeutics by 2.7% in the third quarter. Geode Capital Management LLC now owns 908,459 shares of the company’s stock valued at $81,659,000 after purchasing an additional 23,564 shares during the last quarter. Wellington Management Group LLP boosted 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 valued at $66,750,000 after purchasing an additional 8,125 shares during the period. Millennium Management LLC grew its holdings in shares of Axsome Therapeutics by 1.4% in the second quarter. Millennium Management LLC now owns 739,819 shares of the company’s stock worth $59,555,000 after purchasing an additional 10,401 shares during the last quarter. Finally, Hood River Capital Management LLC increased its stake in shares of Axsome Therapeutics by 5.4% in the second quarter. Hood River Capital Management LLC now owns 549,066 shares of the company’s stock worth $44,200,000 after buying an additional 28,316 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $90.73 on Friday. The company’s fifty day moving average price is $93.65 and its 200-day moving average price is $87.87. The stock has a market cap of $4.40 billion, a PE ratio of -13.89 and a beta of 1.18. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. Axsome Therapeutics, Inc. has a 12 month low of $64.11 and a 12 month high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping 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 business had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. During the same quarter in the previous year, the firm posted ($1.32) earnings per share. On average, equities analysts expect that Axsome Therapeutics, Inc. will post -4.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on AXSM. Robert W. Baird increased their price target on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $121.00 target price on shares of Axsome Therapeutics in a report on Thursday, December 12th. Wells Fargo & Company started coverage on Axsome Therapeutics in a report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price objective on shares of Axsome Therapeutics in a report on Tuesday, November 12th. Finally, HC Wainwright reissued a “buy” rating and set a $180.00 target price on shares of Axsome Therapeutics in a research note on Monday, November 25th. One 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, Axsome Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $125.93.

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.