Public Employees Retirement System of Ohio Takes $3.01 Million Position in Axsome Therapeutics, Inc. $AXSM

Public Employees Retirement System of Ohio purchased a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 12,293 shares of the company’s stock, valued at approximately $3,009,000.

Other hedge funds also recently modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new position in Axsome Therapeutics in the fourth quarter valued at approximately $31,000. Hollencrest Capital Management raised its stake in shares of Axsome Therapeutics by 400.0% in the first quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock valued at $34,000 after buying an additional 160 shares during the period. Ameriflex Group Inc. bought a new stake in shares of Axsome Therapeutics in the fourth quarter valued at $37,000. Advisory Services Network LLC purchased a new position in shares of Axsome Therapeutics during the 3rd quarter valued at $40,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Axsome Therapeutics by 602.6% during the 4th quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock worth $50,000 after acquiring an additional 235 shares during the period. Institutional investors own 81.49% of the company’s stock.

Insider Activity

In related news, Director Mark Coleman sold 643 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $249.00, for a total value of $160,107.00. Following the sale, the director directly owned 30,389 shares of the company’s stock, valued at $7,566,861. This trade represents a 2.07% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Susan Mahony sold 300 shares of Axsome Therapeutics stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $237.21, for a total transaction of $71,163.00. Following the sale, the director owned 1,129 shares of the company’s stock, valued at approximately $267,810.09. The trade was a 20.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 193,229 shares of company stock worth $44,752,676. Company insiders own 20.60% of the company’s stock.

Axsome Therapeutics Trading Down 0.8%

Axsome Therapeutics stock opened at $206.68 on Friday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.34 and a current ratio of 1.43. Axsome Therapeutics, Inc. has a fifty-two week low of $112.90 and a fifty-two week high of $260.19. The stock has a market cap of $10.83 billion, a P/E ratio of -55.11 and a beta of 0.71. The firm’s fifty day moving average price is $223.81 and its 200-day moving average price is $207.48.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.10). Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. The business had revenue of $218.38 million for the quarter, compared to the consensus estimate of $221.11 million. Equities research analysts forecast that Axsome Therapeutics, Inc. will post -2.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AXSM. BMO Capital Markets began coverage on Axsome Therapeutics in a report on Monday, July 20th. They issued an “outperform” rating and a $310.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $290.00 target price on shares of Axsome Therapeutics in a research report on Monday, August 31st. Guggenheim lifted their target price on shares of Axsome Therapeutics from $260.00 to $275.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. UBS Group reissued a “buy” rating on shares of Axsome Therapeutics in a research report on Monday, August 24th. Finally, Wells Fargo & Company upped their price target on shares of Axsome Therapeutics from $255.00 to $256.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $267.60.

Axsome Therapeutics Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.