Elevation Point Wealth Partners LLC Takes $385,000 Position in Axsome Therapeutics, Inc. $AXSM

Elevation Point Wealth Partners LLC acquired a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 2,277 shares of the company’s stock, valued at approximately $385,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Kemnay Advisory Services Inc. purchased a new position in shares of Axsome Therapeutics in the fourth quarter worth $31,000. Ameriflex Group Inc. bought a new stake in Axsome Therapeutics during the 4th quarter valued at $37,000. GAMMA Investing LLC boosted its position in Axsome Therapeutics by 65.4% during the 4th quarter. GAMMA Investing LLC now owns 268 shares of the company’s stock valued at $49,000 after buying an additional 106 shares during the period. Farther Finance Advisors LLC boosted its position in Axsome Therapeutics by 602.6% during the 4th quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock valued at $50,000 after buying an additional 235 shares during the period. Finally, Advisory Services Network LLC bought a new stake in Axsome Therapeutics in the 3rd quarter worth $40,000. Institutional investors own 81.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, June 11th. UBS Group increased their target price on shares of Axsome Therapeutics from $251.00 to $259.00 and gave the stock a “buy” rating in a report on Friday, April 10th. HC Wainwright reissued a “buy” rating and issued a $290.00 target price on shares of Axsome Therapeutics in a research note on Wednesday. Mizuho boosted their price target on Axsome Therapeutics from $228.00 to $310.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Finally, Deutsche Bank Aktiengesellschaft set a $280.00 price target on Axsome Therapeutics in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $259.05.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $248.95 on Friday. The company has a 50-day simple moving average of $235.80 and a two-hundred day simple moving average of $195.18. 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 firm has a market capitalization of $12.81 billion, a PE ratio of -66.74 and a beta of 0.60. Axsome Therapeutics, Inc. has a one year low of $96.09 and a one year high of $260.19.

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

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 4,517 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $227.94, for a total transaction of $1,029,604.98. Following the completion of the transaction, the chief operating officer owned 4,517 shares of the company’s stock, valued at approximately $1,029,604.98. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Nick Pizzie sold 33,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the sale, the chief financial officer owned 42,867 shares in the company, valued at approximately $10,291,938.03. This trade represents a 43.50% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 163,352 shares of company stock valued at $38,598,262. Company insiders own 20.60% of the company’s stock.

Axsome Therapeutics Company 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.