Burney Co. Invests $1.63 Million in Axsome Therapeutics, Inc. $AXSM

Burney Co. acquired a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 9,636 shares of the company’s stock, valued at approximately $1,629,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Praxis Investment Management Inc. grew its holdings in Axsome Therapeutics by 10.0% during the 1st quarter. Praxis Investment Management Inc. now owns 1,265 shares of the company’s stock valued at $214,000 after buying an additional 115 shares during the last quarter. HB Wealth Management LLC lifted its position in shares of Axsome Therapeutics by 47.3% in the first quarter. HB Wealth Management LLC now owns 50,237 shares of the company’s stock valued at $8,491,000 after acquiring an additional 16,135 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of Axsome Therapeutics in the first quarter valued at $385,000. Peregrine Capital Management LLC boosted its stake in shares of Axsome Therapeutics by 1.4% during the first quarter. Peregrine Capital Management LLC now owns 47,296 shares of the company’s stock valued at $7,994,000 after acquiring an additional 663 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Axsome Therapeutics by 4.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 12,030 shares of the company’s stock worth $2,033,000 after purchasing an additional 550 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Stock Performance

NASDAQ AXSM opened at $245.57 on Thursday. The firm has a market capitalization of $12.64 billion, a P/E ratio of -65.84 and a beta of 0.60. Axsome Therapeutics, Inc. has a 1-year low of $96.09 and a 1-year high of $260.19. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32. The business’s 50-day simple moving average is $234.52 and its 200-day simple moving average is $194.50.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The business had revenue of $191.20 million for the quarter, compared to analyst estimates of $191.10 million. Axsome Therapeutics’s revenue was up 57.4% on a year-over-year basis. Equities analysts predict that Axsome Therapeutics, Inc. will post -2.31 EPS for the current year.

Insider Buying and Selling

In related news, Director Mark Coleman sold 643 shares of Axsome Therapeutics stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $249.00, for a total transaction of $160,107.00. Following the transaction, the director owned 30,389 shares in the company, valued at approximately $7,566,861. The trade was a 2.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Herriot Tabuteau sold 49,666 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $240.25, for a total transaction of $11,932,256.50. Following the sale, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at approximately $1,736,767.25. This trade represents a 87.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 163,352 shares of company stock valued at $38,598,262. 20.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. UBS Group boosted their target price on shares of Axsome Therapeutics from $251.00 to $259.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Mizuho lifted their price target on shares of Axsome Therapeutics from $228.00 to $310.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Oppenheimer set a $280.00 price objective on shares of Axsome Therapeutics in a research report on Monday, May 4th. Morgan Stanley raised shares of Axsome Therapeutics from a “reduce” rating to an “overweight” rating in a research note on Thursday, June 11th. Finally, Guggenheim raised their target price on shares of Axsome Therapeutics from $245.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $259.05.

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.