1492 Capital Management LLC Buys New Shares in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

1492 Capital Management LLC purchased a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 11,385 shares of the company’s stock, valued at approximately $963,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pitcairn Co. boosted its position in shares of Axsome Therapeutics by 3.4% during the 4th quarter. Pitcairn Co. now owns 4,562 shares of the company’s stock worth $386,000 after purchasing an additional 148 shares in the last quarter. Meridian Wealth Management LLC boosted its holdings in Axsome Therapeutics by 0.7% in the fourth quarter. Meridian Wealth Management LLC now owns 21,171 shares of the company’s stock worth $1,791,000 after acquiring an additional 150 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in Axsome Therapeutics by 4.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,852 shares of the company’s stock valued at $326,000 after acquiring an additional 162 shares during the period. Arizona State Retirement System increased its holdings in shares of Axsome Therapeutics by 1.8% during the fourth quarter. Arizona State Retirement System now owns 9,054 shares of the company’s stock valued at $766,000 after acquiring an additional 164 shares in the last quarter. Finally, Intrust Bank NA raised its position in shares of Axsome Therapeutics by 6.9% during the fourth quarter. Intrust Bank NA now owns 2,823 shares of the company’s stock worth $239,000 after purchasing an additional 183 shares during the period. 81.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. HC Wainwright reissued a “buy” rating and set a $200.00 target price on shares of Axsome Therapeutics in a research report on Thursday, April 3rd. Needham & Company LLC restated a “buy” rating and issued a $153.00 target price on shares of Axsome Therapeutics in a report on Tuesday, April 1st. Truist Financial lifted 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. Finally, Royal Bank of Canada increased their price objective on Axsome Therapeutics from $143.00 to $192.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $169.80.

Axsome Therapeutics Trading Down 0.0 %

NASDAQ AXSM opened at $104.46 on Friday. The business’s fifty day moving average is $118.71 and its 200-day moving average is $102.30. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of -17.44 and a beta of 0.88. Axsome Therapeutics, Inc. has a one year low of $64.11 and a one year high of $139.13.

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

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the transaction, the chief financial officer now directly owns 42,187 shares of the company’s stock, valued at approximately $5,529,450.09. This represents a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 22.40% of the stock is currently owned by company insiders.

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.