Tocqueville Asset Management L.P. Decreases Stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Tocqueville Asset Management L.P. lessened its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,950 shares of the company’s stock after selling 150 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Axsome Therapeutics were worth $419,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Iron Triangle Partners LP purchased a new stake in Axsome Therapeutics in the 3rd quarter valued at $22,671,000. Principal Financial Group Inc. grew its stake in shares of Axsome Therapeutics by 6,002.7% during the 4th quarter. Principal Financial Group Inc. now owns 207,065 shares of the company’s stock worth $17,520,000 after purchasing an additional 203,672 shares during the period. FMR LLC grew its stake in shares of Axsome Therapeutics by 20.6% during the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company’s stock worth $97,786,000 after purchasing an additional 185,951 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Axsome Therapeutics during the 4th quarter worth $14,771,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Axsome Therapeutics in the 4th quarter worth about $6,219,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Stock Up 0.9 %

AXSM stock opened at $125.90 on Thursday. The firm has a 50 day simple moving average of $114.75 and a 200-day simple moving average of $99.65. Axsome Therapeutics, Inc. has a twelve month low of $64.11 and a twelve month high of $139.13. The company has a market capitalization of $6.14 billion, a P/E ratio of -21.02 and a beta of 0.99. 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 (NASDAQ:AXSM) last announced its quarterly earnings data 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. The firm had revenue of $118.77 million for the quarter, compared to analysts’ expectations of $117.83 million. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. On average, equities research analysts predict that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $153.00 price objective on shares of Axsome Therapeutics in a research report on Wednesday, February 19th. Truist Financial upped their target price on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Axsome Therapeutics in a report on Tuesday, February 11th. They issued a “buy” rating and a $176.00 target price on the stock. William Blair restated an “outperform” rating on shares of Axsome Therapeutics in a report on Tuesday, February 18th. Finally, HC Wainwright restated a “buy” rating and issued a $200.00 target price on shares of Axsome Therapeutics in a report on Thursday, March 6th. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.36.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the sale, the chief financial officer now directly owns 42,187 shares in the company, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 22.40% of the stock is currently owned by company insiders.

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.