Arizona State Retirement System Purchases 177 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Arizona State Retirement System grew its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 2.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,630 shares of the company’s stock after buying an additional 177 shares during the period. Arizona State Retirement System’s holdings in Axsome Therapeutics were worth $695,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Perceptive Advisors LLC boosted its stake in Axsome Therapeutics by 115.5% during the fourth quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock worth $82,616,000 after acquiring an additional 556,370 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of Axsome Therapeutics by 57.4% in the 4th quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock worth $66,633,000 after purchasing an additional 305,264 shares in the last quarter. Norges Bank purchased a new stake in shares of Axsome Therapeutics in the 4th quarter worth approximately $15,530,000. Avidity Partners Management LP raised its stake in Axsome Therapeutics by 54.8% during the fourth quarter. Avidity Partners Management LP now owns 459,400 shares of the company’s stock valued at $36,564,000 after buying an additional 162,600 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Axsome Therapeutics in the first quarter worth $11,036,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the transaction, the director now owns 10,002 shares of the company’s stock, valued at $913,282.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Mark L. Jacobson sold 47,739 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the completion of the sale, the chief operating officer now owns 5,783 shares in the company, valued at $487,275.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark E. Saad sold 11,016 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total value of $1,005,870.96. Following the completion of the transaction, the director now directly owns 10,002 shares in the company, valued at $913,282.62. The disclosure for this sale can be found here. 22.40% of the stock is currently owned by insiders.

Axsome Therapeutics Stock Up 2.1 %

AXSM opened at $93.67 on Monday. The firm’s 50 day simple moving average is $86.92 and its two-hundred day simple moving average is $79.15. The company has a market capitalization of $4.45 billion, a PE ratio of -14.68 and a beta of 1.25. Axsome Therapeutics, Inc. has a 1-year low of $55.02 and a 1-year high of $98.40. The company has a current ratio of 2.48, a quick ratio of 2.40 and a debt-to-equity ratio of 1.77.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, August 5th. The company reported ($1.24) earnings per share for the quarter, beating the consensus estimate of ($1.30) by $0.06. The company had revenue of $87.17 million for the quarter, compared to the consensus estimate of $84.53 million. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%. As a group, equities analysts forecast that Axsome Therapeutics, Inc. will post -4.73 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AXSM shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 price target on shares of Axsome Therapeutics in a research report on Friday, September 6th. Wells Fargo & Company began coverage on shares of Axsome Therapeutics in a research report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price target for the company. Mizuho reaffirmed a “buy” rating and issued a $106.00 price objective on shares of Axsome Therapeutics in a research report on Wednesday, June 12th. Royal Bank of Canada reduced their target price on Axsome Therapeutics from $131.00 to $130.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $180.00 price target on shares of Axsome Therapeutics in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Axsome Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $124.57.

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.