Franklin Resources Inc. Raises Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Franklin Resources Inc. increased its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 47.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 160,534 shares of the company’s stock after purchasing an additional 51,696 shares during the quarter. Franklin Resources Inc. owned approximately 0.33% of Axsome Therapeutics worth $13,713,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AXSM. Sofinnova Investments Inc. bought a new position in shares of Axsome Therapeutics during the 2nd quarter worth $24,971,000. Iron Triangle Partners LP purchased a new stake in Axsome Therapeutics during the third quarter valued at about $22,671,000. Tri Locum Partners LP boosted its position in Axsome Therapeutics by 198.4% during the second quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock worth $24,674,000 after purchasing an additional 203,802 shares during the period. FMR LLC boosted its position in Axsome Therapeutics by 20.6% during the third 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. Finally, Barclays PLC raised its position in shares of Axsome Therapeutics by 279.6% in the third quarter. Barclays PLC now owns 61,785 shares of the company’s stock valued at $5,552,000 after purchasing an additional 45,509 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Stock Performance

NASDAQ AXSM opened at $90.73 on Friday. The company has a market capitalization of $4.40 billion, a P/E ratio of -13.89 and a beta of 1.18. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. Axsome Therapeutics, Inc. has a 52-week low of $64.11 and a 52-week high of $105.00. The company has a fifty day moving average of $93.65 and a 200-day moving average of $87.87.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.04. The firm had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. During the same period in the prior year, the business earned ($1.32) EPS. As a group, equities research analysts predict that Axsome Therapeutics, Inc. will post -4.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on AXSM. HC Wainwright reiterated a “buy” rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a research note on Monday, November 25th. Royal Bank of Canada boosted their price objective on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Needham & Company LLC restated a “buy” rating and issued a $130.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, November 12th. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Wells Fargo & Company assumed coverage on shares of Axsome Therapeutics in a research note on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price objective for the company. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $125.93.

Axsome Therapeutics Profile

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.