97,698 Shares in Axsome Therapeutics, Inc. $AXSM Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 97,698 shares of the company’s stock, valued at approximately $23,914,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Axsome Therapeutics in the 2nd quarter valued at $759,695,000. Price T Rowe Associates Inc. MD boosted its position in shares of Axsome Therapeutics by 45.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock valued at $275,763,000 after purchasing an additional 472,422 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Axsome Therapeutics by 84.1% in the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock valued at $162,082,000 after acquiring an additional 609,516 shares during the period. Invesco Ltd. grew its position in Axsome Therapeutics by 28.6% during the 4th quarter. Invesco Ltd. now owns 1,273,494 shares of the company’s stock worth $232,591,000 after purchasing an additional 282,937 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Axsome Therapeutics by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 1,010,249 shares of the company’s stock worth $184,544,000 after buying an additional 12,549 shares during the period. Institutional investors and hedge funds own 81.49% of the company’s stock.

Insider Activity at Axsome Therapeutics

In related news, Director Susan Mahony sold 300 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total value of $71,163.00. Following the sale, the director owned 1,129 shares in the company, valued at $267,810.09. This represents a 20.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Nick Pizzie sold 33,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $240.09, for a total value of $7,922,970.00. Following the completion of the sale, the chief financial officer owned 42,867 shares in the company, valued at approximately $10,291,938.03. This represents a 43.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 200,766 shares of company stock worth $46,685,646. 20.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Robert W. Baird increased their price objective on Axsome Therapeutics from $241.00 to $246.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. BMO Capital Markets started coverage on shares of Axsome Therapeutics in a research report on Monday, July 20th. They issued an “outperform” rating and a $310.00 price objective on the stock. Morgan Stanley upped their price objective on shares of Axsome Therapeutics from $242.00 to $251.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 11th. Piper Sandler reaffirmed an “overweight” rating and issued a $258.00 target price on shares of Axsome Therapeutics in a report on Monday, May 4th. Finally, Guggenheim increased their price target on shares of Axsome Therapeutics from $260.00 to $275.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $267.60.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $205.40 on Tuesday. The company has a quick ratio of 1.34, a current ratio of 1.43 and a debt-to-equity ratio of 1.52. Axsome Therapeutics, Inc. has a 52-week low of $112.90 and a 52-week high of $260.19. The company has a 50-day simple moving average of $231.17 and a 200-day simple moving average of $206.29. The company has a market capitalization of $10.76 billion, a PE ratio of -54.77 and a beta of 0.65.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%.The company had revenue of $218.38 million for the quarter, compared to analysts’ expectations of $221.11 million. Equities research analysts predict that Axsome Therapeutics, Inc. will post -2.78 earnings per share for the current fiscal year.

Axsome Therapeutics Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.