Axsome Therapeutics, Inc. (NASDAQ:AXSM) Stake Lowered by Phocas Financial Corp.

Phocas Financial Corp. trimmed its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 85.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,652 shares of the company’s stock after selling 15,049 shares during the quarter. Phocas Financial Corp.’s holdings in Axsome Therapeutics were worth $224,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AXSM. Iron Triangle Partners LP bought a new position in Axsome Therapeutics in the 3rd quarter worth approximately $22,671,000. Principal Financial Group Inc. grew its holdings in Axsome Therapeutics by 6,002.7% in the 4th quarter. Principal Financial Group Inc. now owns 207,065 shares of the company’s stock worth $17,520,000 after buying an additional 203,672 shares in the last quarter. FMR LLC grew its holdings in Axsome Therapeutics by 20.6% in the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company’s stock worth $97,786,000 after buying an additional 185,951 shares in the last quarter. abrdn plc grew its holdings in Axsome Therapeutics by 553.3% in the 4th quarter. abrdn plc now owns 72,179 shares of the company’s stock worth $6,107,000 after buying an additional 61,131 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in Axsome Therapeutics by 47.5% in the 3rd quarter. Franklin Resources Inc. now owns 160,534 shares of the company’s stock worth $13,713,000 after buying an additional 51,696 shares in the last quarter. 81.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on AXSM. HC Wainwright increased their price objective on Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Mizuho upped their target price on Axsome Therapeutics from $195.00 to $212.00 and gave the stock an “outperform” rating in a research report on Wednesday. Truist Financial upped their target price on Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Royal Bank of Canada upped their target price on Axsome Therapeutics from $143.00 to $192.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, Bank of America upped their target price on Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $160.00.

Insider Activity

In other 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 value of $393,210.00. Following the completion of the sale, the chief financial officer now owns 42,187 shares in the company, valued at $5,529,450.09. This represents a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 22.40% of the company’s stock.

Axsome Therapeutics Price Performance

Shares of NASDAQ:AXSM opened at $128.33 on Thursday. Axsome Therapeutics, Inc. has a one year low of $64.11 and a one year high of $139.13. The stock has a fifty day moving average of $102.78 and a 200-day moving average of $95.62. The company has a market capitalization of $6.26 billion, a PE ratio of -21.42 and a beta of 1.05. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. The company had revenue of $118.77 million during the quarter, compared to analyst estimates of $117.83 million. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. As a group, equities analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Axsome Therapeutics Company 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.