Whalen Wealth Management Inc. Takes $236,000 Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Whalen Wealth Management Inc. bought a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,628 shares of the company’s stock, valued at approximately $236,000.

Other institutional investors also recently modified their holdings of the company. Sofinnova Investments Inc. purchased a new position in shares of Axsome Therapeutics during the second quarter valued at approximately $24,971,000. Tri Locum Partners LP boosted its holdings in Axsome Therapeutics by 198.4% during the 2nd quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock worth $24,674,000 after acquiring an additional 203,802 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Axsome Therapeutics in the 1st quarter worth $11,036,000. Hood River Capital Management LLC raised its holdings in shares of Axsome Therapeutics by 32.6% in the first quarter. Hood River Capital Management LLC now owns 520,750 shares of the company’s stock valued at $41,556,000 after purchasing an additional 127,997 shares during the last quarter. Finally, Affinity Asset Advisors LLC lifted its position in shares of Axsome Therapeutics by 179.5% during the first quarter. Affinity Asset Advisors LLC now owns 139,758 shares of the company’s stock valued at $11,153,000 after purchasing an additional 89,758 shares in the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AXSM has been the subject of a number of recent analyst reports. Bank of America raised shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $95.00 to $106.00 in a research report on Tuesday, August 6th. Needham & Company LLC reiterated a “buy” rating and set a $130.00 price target on shares of Axsome Therapeutics in a report on Tuesday, November 12th. HC Wainwright reiterated a “buy” rating and set a $180.00 target price on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Cantor Fitzgerald restated an “overweight” rating and set a $107.00 price target on shares of Axsome Therapeutics in a research note on Monday, September 16th. Finally, StockNews.com downgraded Axsome Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $124.93.

Insider Buying and Selling

In related news, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total value of $1,005,870.96. Following the sale, the director now directly owns 10,002 shares of the company’s stock, valued at $913,282.62. This trade represents a 52.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 22.40% of the stock is owned by company insiders.

Axsome Therapeutics Trading Down 0.8 %

Shares of Axsome Therapeutics stock opened at $92.45 on Tuesday. The company’s 50-day moving average price is $90.66 and its 200-day moving average price is $84.41. The company has a current ratio of 2.44, a quick ratio of 2.40 and a debt-to-equity ratio of 1.97. Axsome Therapeutics, Inc. has a 12-month low of $58.61 and a 12-month high of $105.00. The company has a market cap of $4.48 billion, a price-to-earnings ratio of -14.16 and a beta of 1.26.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.38) by $0.04. The business had revenue of $104.76 million for the quarter, compared to analysts’ expectations of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same period in the prior year, the company posted ($1.32) EPS. On average, equities analysts expect that Axsome Therapeutics, Inc. will post -4.75 earnings per share for the current fiscal year.

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.