Axsome Therapeutics, Inc. $AXSM Shares Purchased by DNB Asset Management AS

DNB Asset Management AS increased its stake in Axsome Therapeutics, Inc. by 24.6% in Q2, owning 76,642 shares valued at $8,001,000. Several other investors also acquired new positions in the company. Insiders sold significant shares recently. Analysts have mixed ratings, with a general 'Moderate Buy' consensus. Axsome's stock opened at $149.44, with a market cap of $7.53 billion. The company reported a Q3 revenue increase of 63.2% year-over-year, despite missing EPS estimates.

DNB Asset Management AS lifted its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 24.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 76,642 shares of the company's stock after purchasing an additional 15,114 shares during the quarter. DNB Asset Management AS owned about 0.15% of Axsome Therapeutics worth $8,001,000 as of its most recent SEC filing.

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Several other large investors also recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd acquired a new position in Axsome Therapeutics during the 1st quarter valued at approximately $25,000. Quantbot Technologies LP acquired a new position in shares of Axsome Therapeutics in the 1st quarter valued at $31,000. AlphaQuest LLC acquired a new position in shares of Axsome Therapeutics in the 1st quarter valued at $38,000. Neo Ivy Capital Management purchased a new position in Axsome Therapeutics in the 1st quarter worth $41,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Axsome Therapeutics during the 1st quarter worth about $47,000. Hedge funds and other institutional investors own 81.49% of the company's stock.

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Insider Activity

In other news, COO Mark L. Jacobson sold 10,000 shares of the firm's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $115.96, for a total transaction of $1,159,600.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Herriot Tabuteau sold 21,775 shares of Axsome Therapeutics stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $134.49, for a total value of $2,928,519.75. Following the completion of the transaction, the chief executive officer owned 7,229 shares of the company's stock, valued at approximately $972,228.21. This represents a 75.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 390,577 shares of company stock worth $48,635,799. Corporate insiders own 22.30% of the company's stock.

Wall Street Analyst Weigh In

Struggling Axsome Stock Could Bounce Back on Drug Trial Success

A number of research analysts have recently weighed in on AXSM shares. Mizuho increased their price objective on Axsome Therapeutics from $200.00 to $202.00 and gave the company an "outperform" rating in a report on Thursday, November 6th. Royal Bank Of Canada upped their target price on Axsome Therapeutics from $189.00 to $198.00 and gave the company an "outperform" rating in a research report on Tuesday, November 4th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Axsome Therapeutics in a report on Wednesday, October 8th. HC Wainwright raised their price target on shares of Axsome Therapeutics from $180.00 to $185.00 and gave the stock a "buy" rating in a research report on Tuesday, November 4th. Finally, B. Riley began coverage on shares of Axsome Therapeutics in a report on Wednesday, October 1st. They issued a "buy" rating and a $179.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Axsome Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $179.88.

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Axsome Therapeutics Trading Up 4.3%

Why this is an Awesome Time to Buy Axsome Therapeutics

Shares of NASDAQ:AXSM opened at $149.44 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.51 and a debt-to-equity ratio of 1.66. Axsome Therapeutics, Inc. has a 12-month low of $75.56 and a 12-month high of $149.77. The business has a 50 day moving average of $128.53 and a two-hundred day moving average of $115.98. The company has a market capitalization of $7.53 billion, a PE ratio of -29.48 and a beta of 0.50.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its earnings results on Monday, November 3rd. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.12). Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. The firm had revenue of $170.99 million during the quarter, compared to analyst estimates of $162.96 million. The company's quarterly revenue was up 63.2% on a year-over-year basis. As a group, analysts forecast that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Axsome Therapeutics Company Profile

(Free Report)

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.

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