Principal Financial Group Inc. Boosts Stake in Axsome Therapeutics, Inc. $AXSM

Principal Financial Group Inc. lifted its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 3.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 368,434 shares of the company’s stock after buying an additional 12,923 shares during the period. Principal Financial Group Inc.’s holdings in Axsome Therapeutics were worth $44,746,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in AXSM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Axsome Therapeutics by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,923 shares of the company’s stock worth $2,557,000 after acquiring an additional 1,002 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Axsome Therapeutics by 2,407.9% in the first quarter. Jones Financial Companies Lllp now owns 7,624 shares of the company’s stock valued at $889,000 after purchasing an additional 7,320 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Axsome Therapeutics by 38.7% in the first quarter. Goldman Sachs Group Inc. now owns 301,718 shares of the company’s stock valued at $35,189,000 after purchasing an additional 84,151 shares during the period. Caxton Associates LLP purchased a new position in shares of Axsome Therapeutics in the first quarter worth about $307,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Axsome Therapeutics by 29.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,892 shares of the company’s stock worth $8,735,000 after purchasing an additional 17,250 shares during the period. 81.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AXSM shares. Jefferies Financial Group raised their price target on shares of Axsome Therapeutics from $200.00 to $245.00 and gave the stock a “buy” rating in a research report on Tuesday. Wells Fargo & Company raised their target price on shares of Axsome Therapeutics from $157.00 to $193.00 and gave the stock an “overweight” rating in a report on Tuesday, January 13th. Robert W. Baird set a $209.00 target price on shares of Axsome Therapeutics in a research report on Tuesday, January 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 price target on shares of Axsome Therapeutics in a report on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Wednesday, January 21st. Nineteen equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.72.

Axsome Therapeutics Stock Down 1.0%

AXSM stock opened at $185.54 on Thursday. Axsome Therapeutics, Inc. has a one year low of $86.99 and a one year high of $191.50. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.50 and a current ratio of 1.57. The firm’s fifty day moving average is $165.41 and its 200 day moving average is $137.44. The firm has a market cap of $9.35 billion, a PE ratio of -39.73, a P/E/G ratio of 12.09 and a beta of 0.40.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Monday, November 3rd. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.12). Axsome Therapeutics had a negative return on equity of 277.31% and a negative net margin of 40.90%.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% compared to the same quarter last year. On average, research analysts forecast that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Insiders Place Their Bets

In related news, Director Mark E. Saad sold 37,577 shares of the company’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $165.18, for a total value of $6,206,968.86. Following the completion of the transaction, the director owned 10,002 shares of the company’s stock, valued at approximately $1,652,130.36. This represents a 78.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ari Maizel sold 7,500 shares of the stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $184.44, for a total value of $1,383,300.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 308,874 shares of company stock worth $51,390,805 in the last 90 days. 22.30% of the stock is currently owned by company insiders.

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.