IFP Advisors Inc Purchases 18,038 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

IFP Advisors Inc lifted its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 36.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 67,839 shares of the company’s stock after acquiring an additional 18,038 shares during the period. IFP Advisors Inc owned approximately 0.14% of Axsome Therapeutics worth $5,740,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AXSM. Iron Triangle Partners LP bought a new stake in shares of Axsome Therapeutics during the 3rd quarter worth $22,671,000. Principal Financial Group Inc. lifted its holdings in shares of Axsome Therapeutics by 6,002.7% during the 4th quarter. Principal Financial Group Inc. now owns 207,065 shares of the company’s stock worth $17,520,000 after acquiring an additional 203,672 shares during the last quarter. FMR LLC lifted its holdings in shares of Axsome Therapeutics by 20.6% during the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company’s stock worth $97,786,000 after acquiring an additional 185,951 shares during the last quarter. abrdn plc lifted its holdings in shares of Axsome Therapeutics by 553.3% during the 4th quarter. abrdn plc now owns 72,179 shares of the company’s stock worth $6,107,000 after acquiring an additional 61,131 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Axsome Therapeutics by 47.5% during the 3rd quarter. Franklin Resources Inc. now owns 160,534 shares of the company’s stock worth $13,713,000 after acquiring an additional 51,696 shares during the last quarter. 81.49% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Nick Pizzie sold 3,000 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the sale, the chief financial officer now owns 42,187 shares of the company’s stock, valued at $5,529,450.09. The trade was a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 22.40% of the stock is currently owned by insiders.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM opened at $137.75 on Monday. Axsome Therapeutics, Inc. has a 1 year low of $64.11 and a 1 year high of $139.13. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.37. The company’s 50-day moving average is $101.29 and its 200 day moving average is $94.99. The stock has a market capitalization of $6.72 billion, a P/E ratio of -23.00 and a beta of 1.05.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $118.77 million for the quarter, compared to analysts’ expectations of $117.83 million. On average, sell-side analysts expect that Axsome Therapeutics, Inc. will post -2.74 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $153.00 price objective on shares of Axsome Therapeutics in a report on Wednesday, February 19th. Royal Bank of Canada lifted their target price on shares of Axsome Therapeutics from $143.00 to $192.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. William Blair reiterated an “outperform” rating on shares of Axsome Therapeutics in a research report on Tuesday, February 18th. Mizuho lifted their target price on shares of Axsome Therapeutics from $137.00 to $195.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Finally, Needham & Company LLC lifted their target price on shares of Axsome Therapeutics from $133.00 to $153.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $158.79.

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.