Axsome Therapeutics, Inc. (NASDAQ:AXSM) Stake Cut by Alethea Capital Management LLC

According to the most recent Form 13F filed with the SEC, the company's stock price increased by 0.3% during the fourth quarter. The institutional investor held 785,683 of the company stock after selling 2,580 during the period. Axsome therapeutics represents 58.1% in Alethea Capital Management LLC’s investment portfolio. This is the largest position. Alethea Capital Management LLC held approximately 1.81% in Axsome Therapeutics, worth $60,600,000. This was according to its latest filing with the SEC.

Hedge funds and other institutional investors have also changed their positions. Boxer Capital LLC acquired a stake in Axsome therapeutics worth $30,852,000 in the fourth quarter. Price T Rowe Associates Inc. MD increased its stake in Axsome therapeutics by 2.7% during the fourth quarter. Price T Rowe Associates Inc. MD owns 14,479 of the company’s shares worth $1,117,000. This is after purchasing an additional 380 during the period. Putnam Investments LLC increased its stake in Axsome therapeutics by 1.5% during the fourth quarter. Putnam Investments LLC owns 114 239 shares worth $8 811 000 after adding 1,667 more shares. Driehaus Capital Management LLC acquired a new stake in Axsome therapeutics shares during the fourth quarter, valued at approximately $17.979,000. Pathstone Family Office LLC also purchased shares of Axsome therapeutics in the 4th Quarter for approximately $324,000. During Monday's midday trading, the stock rose $1.10 to $74.84. The company's shares were traded at a volume of 539,894 compared to the average of 858110. Axsome Therapeutics Inc.'s 52-week low is $20.63, and its 52-week highest is $82.85 The market cap of the stock is $3.26 billion. It has a PE of -19.69, and a beta value of 1.92. The debt-to equity ratio for the company is 1.32. Its quick ratio is 2.95, and its current ratio is 3.02. The company's two-hundred and fifty-day moving average prices are $69.53 and $71.46 respectively.

The company announced its latest earnings on Monday, 8th May. The company's ($0.22) earnings-per-share (EPS) for quarter surpassed analysts' expectations of ($1.13) ($0.91) by $0.91. Axsome had a negative equity return of 152.04%, and a net margin of 109.75%. Analysts had predicted $26.87m in revenue for the quarter. The company's revenue was $94.58m. Analysts predict that Axsome will have -3.84 earnings per share for the year.

Analysts set new price targets

In a report published on Thursday, May 11, Axsome Therapeutics shares were upgraded from a "sell" rating to a "hold". HC Wainwright reissued a buy' rating on Axsome Therapeutics shares and set a price target of $200.00 in a report released on Monday, April 17. Bank of America reiterated its 'underperform rating' and set a price target of $52.00 on Axsome Therapeutics shares in a report published on February 14th. Mizuho raised their price target for Axsome Therapeutics in a report published on Thursday, 11th May from $84.00 up to $95.00. Guggenheim also raised their price target for Axsome Therapeutics in a report published on May 9th from $90.00 up to $100.00. One analyst gave the stock a sell recommendation, three a hold recommendation and ten a buy recommendation. According to MarketBeat.com the stock has an average rating 'Moderate buy' with a consensus price of $105.57.

Axsome Therapeutics

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Axsome Therapeutics Inc. is a biopharmaceutical firm in commercial stage that develops novel therapies to treat central nervous system disorders. The portfolio is divided into two sections: Products Overview and Pipeline Overview. Auvelity, Sunosi and other products are included in the Products Overview. The Pipeline Overview contains AXS-04, AXS-07 AXS-12 and AXS-14.

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