The Manufacturers Life Insurance Company Acquires Shares of 118,999 Axsome Therapeutics, Inc. $AXSM

The Manufacturers Life Insurance Company acquired a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 118,999 shares of the company’s stock, valued at approximately $29,127,000.

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

Insider Buying and Selling

In other Axsome Therapeutics news, Director Roger Jeffs sold 286 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $246.18, for a total value of $70,407.48. Following the completion of the transaction, the director owned 58,653 shares of the company’s stock, valued at $14,439,195.54. The trade was a 0.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Susan Mahony sold 300 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total transaction of $71,163.00. Following the completion of the transaction, the director owned 1,129 shares of the company’s stock, valued at $267,810.09. This trade represents a 20.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 194,766 shares of company stock valued at $45,284,886 in the last ninety days. 20.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $272.00 price target on shares of Axsome Therapeutics in a research report on Monday, May 4th. Morgan Stanley lifted their price target on shares of Axsome Therapeutics from $242.00 to $251.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 11th. Needham & Company LLC boosted their price objective on Axsome Therapeutics from $267.00 to $268.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Friday, July 17th. Finally, UBS Group reaffirmed a “buy” rating on shares of Axsome Therapeutics in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $267.60.

Axsome Therapeutics Stock Down 0.4%

AXSM opened at $206.27 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 1.52. Axsome Therapeutics, Inc. has a 12 month low of $112.90 and a 12 month high of $260.19. The company has a market cap of $10.80 billion, a PE ratio of -55.01 and a beta of 0.65. The company has a 50 day moving average of $228.46 and a 200 day moving average of $206.78.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.99) earnings per share (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. On average, sell-side analysts expect that Axsome Therapeutics, Inc. will post -2.8 EPS for the current year.

About Axsome Therapeutics

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.