Corient Private Wealth LLC Makes New Investment in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Corient Private Wealth LLC purchased a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,829 shares of the company’s stock, valued at approximately $239,000.

Other hedge funds also recently made changes to their positions in the company. Meridian Wealth Management LLC increased its holdings in Axsome Therapeutics by 0.7% in the 4th quarter. Meridian Wealth Management LLC now owns 21,171 shares of the company’s stock valued at $1,791,000 after purchasing an additional 150 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Axsome Therapeutics by 1.8% in the fourth quarter. Arizona State Retirement System now owns 9,054 shares of the company’s stock valued at $766,000 after buying an additional 164 shares in the last quarter. KBC Group NV raised its holdings in shares of Axsome Therapeutics by 40.5% during the 4th quarter. KBC Group NV now owns 1,336 shares of the company’s stock valued at $113,000 after buying an additional 385 shares during the period. Assetmark Inc. acquired a new position in Axsome Therapeutics during the 4th quarter worth approximately $52,000. Finally, R Squared Ltd acquired a new position in Axsome Therapeutics during the 4th quarter worth approximately $64,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

Axsome Therapeutics Trading Down 1.6 %

Axsome Therapeutics stock opened at $116.63 on Tuesday. Axsome Therapeutics, Inc. has a one year low of $64.11 and a one year high of $139.13. The company’s fifty day moving average price is $120.16 and its two-hundred day moving average price is $101.40. 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 company has a market capitalization of $5.69 billion, a price-to-earnings ratio of -19.47 and a beta of 1.00.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $118.77 million during the quarter, compared to the consensus estimate of $117.83 million. On average, analysts forecast that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AXSM has been the subject of a number of research analyst reports. Robert W. Baird lifted their price target on shares of Axsome Therapeutics from $132.00 to $160.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Needham & Company LLC reissued a “buy” rating and issued a $153.00 target price on shares of Axsome Therapeutics in a research report on Monday, March 3rd. Truist Financial increased their price target on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Bank of America increased their target price on Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, Wells Fargo & Company lifted their target price on Axsome Therapeutics from $140.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $167.64.

Insiders Place Their Bets

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the business’s stock in a transaction on Friday, February 14th. The shares were 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 owns 42,187 shares of the company’s stock, valued at $5,529,450.09. The trade was a 6.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 22.40% of the company’s stock.

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.