The Vanguard Group, Inc. recently announced the acquisition of new stake in Axsome Therapeutics Inc. (NASDAQ:AXSM). The institutional investor has increased its shareholding in the Healthcare company by 11.16% to 3.03 million shares with purchase of 0.3 million shares. This fresh investment now brings its stake to 7.53% valued currently at $136.94 million. In addition, PFM Health Sciences LP raised its holdings by 0.5 million to 2.16 million shares. And Fairmount Funds Management LLC has lifted its position by 101.22% or 0.95 million shares – to 1.9 million shares.
With over 10.72 million Axsome Therapeutics Inc. (AXSM) shares trading Monday and a closing price of $74.74 on the day, the dollar volume was approximately $801.55 million. The shares have shown a positive half year performance of 182.46% and its price on 11/28/22 gained nearly 31.54%. Currently, there are 41.70M common shares owned by the public and among those 35.41M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 15 analysts who have offered their price forecasts for AXSM have a consensus price objective of $104.88. The analysts have set the share’s price value over the next 12 months at a high of $210.00 and a low of $35.00. The average price target is 25.68% above its recent price level and a downside to the estimated low will see the stock lose -113.54% over that period. But an upside of 64.41% will see the stock hit the forecast high price target while median target price for the stock is $95.00.
Insiders at the company have transacted a total of 1 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 1 of these insider trades were purchases, accounting for 3,496 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Axsome Therapeutics Inc. are Vanguard Total Stock Market Index, Vanguard Small Cap Index Fund, and iShares Russell 2000 ETF. Vanguard Total Stock Market Index owns 0.97 million shares of the company’s stock, all valued at over $43.62 million. The company bought an additional 1865.0 shares recently to bring their total holdings to about 2.40% of the shares outstanding. Vanguard Small Cap Index Fund bought 12944.0 shares to see its total holdings expand to 0.83 million shares valued at over $37.56 million and representing 2.06% of the shares outstanding. iShares Russell 2000 ETF sold 12091.0 shares to bring its total holdings to over 0.65 million shares at a value of $29.52 million. iShares Russell 2000 ETF now owns shares totaling to 1.62% of the shares outstanding.
Shares of Axsome Therapeutics Inc. (NASDAQ: AXSM) opened at $71.035, up $14.21 from a prior closing price of $56.82. However, the script later moved the day high at 79.68, up 31.54%. The company’s stock has a 5-day price change of 33.06% and 16.33% over the past three months. AXSM shares are trading 97.83% year to date (YTD), with the 12-month market performance up to 102.44% higher. It has a 12-month low price of $20.63 and touched a high of $71.98 over the same period. AXSM has an average intraday trading volume of 1.29 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 36.00%, 49.36%, and 81.75% respectively.
Institutional ownership of Axsome Therapeutics Inc. (NASDAQ: AXSM) shares accounts for 60.50% of the company’s 41.70M shares outstanding. Mutual fund holders own 22.61%, while other institutional holders and individual stakeholders account for 44.71% and 20.62% respectively.
It has a market capitalization of $3.30B and a beta (3y monthly) value of 1.76. The earnings-per-share (ttm) stands at -$4.07. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.87% over the week and 9.89% over the month.
Analysts forecast that Axsome Therapeutics Inc. (AXSM) will achieve an EPS of -$1.08 for the current quarter, -$1.03 for the next quarter and -$2.62 for 2023. The lowest estimate earnings-per-share for the quarter is -$1.63 while analysts give the company a high EPS estimate of -$0.84. Comparatively, EPS for the current quarter was -$0.93 a year ago. Earnings per share for the fiscal year are expected to decrease by -25.30%, and 24.80% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 15 brokerage firm advisors rate Axsome Therapeutics Inc. (AXSM) as a “Strong Buy” at a consensus score of 1.80. Specifically, 13 Wall Street analysts polled rate the stock as a buy, while 1 of the 15 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the AXSM, a number of firms have released research notes about the stock. Loop Capital stated their Buy rating for the stock in a research note on November 01, 2022, with the firm’s price target at $95. Mizuho coverage for the Axsome Therapeutics Inc. (AXSM) stock in a research note released on September 07, 2022 offered a Buy rating with a price target of $76. Morgan Stanley was of a view on August 10, 2021 that the stock is Equal-Weight, while Berenberg gave the stock Buy rating on June 10, 2021, issuing a price target of $112. Jefferies on their part issued Buy rating on January 08, 2021.
