9,466 Shares in Axsome Therapeutics, Inc. (NASDAQ:AXSM) Acquired by Fred Alger Management LLC

Fred Alger Management LLC acquired a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 9,466 shares of the company’s stock, valued at approximately $851,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AXSM. Northwestern Mutual Wealth Management Co. bought a new stake in Axsome Therapeutics during the 2nd quarter valued at $27,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Axsome Therapeutics during the second quarter valued at about $47,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of 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 period. Moors & Cabot Inc. bought a new stake in shares of Axsome Therapeutics in the third quarter worth about $200,000. Finally, Whalen Wealth Management Inc. bought a new stake in shares of Axsome Therapeutics in the third quarter worth about $236,000. Institutional investors own 81.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on AXSM shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $107.00 price target on shares of Axsome Therapeutics in a research report on Monday, September 16th. UBS Group dropped their price target on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Robert W. Baird boosted their price objective 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. HC Wainwright reaffirmed a “buy” rating and issued a $180.00 target price on shares of Axsome Therapeutics in a research report on Monday, November 25th. Finally, Wells Fargo & Company started coverage on shares of Axsome Therapeutics in a research report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Axsome Therapeutics has an average rating of “Moderate Buy” and an average price target of $124.93.

Insiders Place Their Bets

In other news, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $913,282.62. This trade represents a 52.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 22.40% of the company’s stock.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock opened at $98.22 on Monday. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of -15.04 and a beta of 1.26. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. Axsome Therapeutics, Inc. has a 1 year low of $64.11 and a 1 year high of $105.00. The firm’s 50-day moving average is $91.53 and its 200 day moving average is $85.95.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) 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 firm had revenue of $104.76 million for the quarter, compared to analysts’ expectations of $98.71 million. During the same quarter in the prior year, the company posted ($1.32) earnings per share. Sell-side analysts anticipate that Axsome Therapeutics, Inc. will post -4.58 EPS for the current fiscal year.

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.