Connor Clark & Lunn Investment Management Ltd. Purchases New Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 73,497 shares of the company’s stock, valued at approximately $6,219,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.15% of Axsome Therapeutics as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AXSM. JPMorgan Chase & Co. lifted its stake in Axsome Therapeutics by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock valued at $19,062,000 after purchasing an additional 27,534 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Axsome Therapeutics in the fourth quarter valued at approximately $2,599,000. PDT Partners LLC acquired a new stake in shares of Axsome Therapeutics in the third quarter valued at approximately $1,052,000. Pallas Capital Advisors LLC bought a new position in shares of Axsome Therapeutics during the 4th quarter worth approximately $2,237,000. Finally, Aigen Investment Management LP acquired a new position in shares of Axsome Therapeutics during the 4th quarter worth approximately $395,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Axsome Therapeutics in a research report on Tuesday, February 11th. They set a “buy” rating and a $176.00 target price on the stock. Mizuho increased their target price on Axsome Therapeutics from $195.00 to $212.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Truist Financial boosted their price target on Axsome Therapeutics from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $153.00 target price on shares of Axsome Therapeutics in a report on Wednesday, February 19th. Finally, HC Wainwright restated a “buy” rating and issued a $200.00 target price on shares of Axsome Therapeutics in a research report on Thursday, March 6th. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $167.36.

Insider Transactions at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the transaction, the chief financial officer now owns 42,187 shares in the company, valued at $5,529,450.09. This trade represents a 6.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 22.40% of the company’s stock.

Axsome Therapeutics Stock Performance

NASDAQ AXSM opened at $121.91 on Friday. The firm’s fifty day moving average price is $112.25 and its two-hundred day moving average price is $98.88. The stock has a market cap of $5.94 billion, a PE ratio of -20.35 and a beta of 1.00. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. Axsome Therapeutics, Inc. has a fifty-two week low of $64.11 and a fifty-two week high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. The business had revenue of $118.77 million for the quarter, compared to analyst estimates of $117.83 million. On average, equities analysts expect that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

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.