Meridian Wealth Management LLC Boosts Stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Meridian Wealth Management LLC raised its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,171 shares of the company’s stock after purchasing an additional 150 shares during the quarter. Meridian Wealth Management LLC’s holdings in Axsome Therapeutics were worth $1,791,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AXSM. R Squared Ltd purchased a new stake in Axsome Therapeutics in the 4th quarter worth about $64,000. KBC Group NV raised its position in Axsome Therapeutics by 40.5% in the 4th quarter. KBC Group NV now owns 1,336 shares of the company’s stock worth $113,000 after purchasing an additional 385 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Axsome Therapeutics by 22.4% in the 3rd 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. purchased a new stake in Axsome Therapeutics in the 3rd quarter worth about $200,000. Finally, Whalen Wealth Management Inc. purchased a new stake in Axsome Therapeutics in the 3rd quarter worth about $236,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AXSM has been the topic of a number of research reports. Robert W. Baird raised their target price on shares of Axsome Therapeutics from $132.00 to $160.00 and gave the stock an “outperform” rating in a research report on Monday. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. William Blair reaffirmed an “outperform” rating on shares of Axsome Therapeutics in a research report on Tuesday, February 18th. Mizuho raised their target price on shares of Axsome Therapeutics from $195.00 to $212.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Finally, Bank of America raised their target price on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.36.

Axsome Therapeutics Price Performance

NASDAQ AXSM opened at $127.15 on Tuesday. The firm’s fifty day simple moving average is $105.81 and its two-hundred day simple moving average is $96.81. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. Axsome Therapeutics, Inc. has a 12-month low of $64.11 and a 12-month high of $139.13. The firm has a market capitalization of $6.20 billion, a P/E ratio of -21.23 and a beta of 1.05.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, topping 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 business had revenue of $118.77 million for the quarter, compared to analyst estimates of $117.83 million. Analysts forecast that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Nick Pizzie sold 3,000 shares of the business’s stock in a transaction on 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 directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 22.40% of the company’s stock.

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.