Forbes J M & Co. LLP Lowers Stake in Axsome Therapeutics, Inc. $AXSM

Forbes J M & Co. LLP reduced its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 3.5% in the second quarter, HoldingsChannel reports. The fund owned 3,704 shares of the company’s stock after selling 136 shares during the period. Forbes J M & Co. LLP’s holdings in Axsome Therapeutics were worth $387,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Mutual of America Capital Management LLC lifted its position in Axsome Therapeutics by 0.3% during the 1st quarter. Mutual of America Capital Management LLC now owns 39,623 shares of the company’s stock valued at $4,621,000 after acquiring an additional 136 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Axsome Therapeutics in the first quarter worth about $25,000. GF Fund Management CO. LTD. raised its holdings in Axsome Therapeutics by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 1,241 shares of the company’s stock worth $145,000 after buying an additional 223 shares during the last quarter. Xponance Inc. raised its holdings in Axsome Therapeutics by 8.7% in the first quarter. Xponance Inc. now owns 2,891 shares of the company’s stock worth $337,000 after buying an additional 232 shares during the last quarter. Finally, Tocqueville Asset Management L.P. raised its holdings in Axsome Therapeutics by 5.1% in the first quarter. Tocqueville Asset Management L.P. now owns 5,200 shares of the company’s stock worth $606,000 after buying an additional 250 shares during the last quarter. 81.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark E. Saad sold 9,127 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $125.07, for a total transaction of $1,141,513.89. Following the completion of the sale, the director directly owned 10,002 shares of the company’s stock, valued at approximately $1,250,950.14. This represents a 47.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Mark L. Jacobson sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $115.96, for a total transaction of $1,159,600.00. The disclosure for this sale can be found here. Insiders sold 197,948 shares of company stock valued at $23,406,686 in the last quarter. Insiders own 22.40% of the company’s stock.

Analysts Set New Price Targets

AXSM has been the subject of several recent analyst reports. Morgan Stanley initiated coverage on shares of Axsome Therapeutics in a report on Thursday, July 3rd. They issued an “overweight” rating and a $190.00 target price for the company. Royal Bank Of Canada lifted their target price on shares of Axsome Therapeutics from $184.00 to $189.00 and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Wells Fargo & Company raised shares of Axsome Therapeutics to a “strong-buy” rating in a report on Wednesday, September 3rd. Bank of America lifted their target price on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $180.00 target price on shares of Axsome Therapeutics in a report on Tuesday, June 10th. Two analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $177.86.

Axsome Therapeutics Stock Up 3.3%

AXSM opened at $121.45 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 1.66. The firm has a 50 day moving average price of $114.01 and a 200-day moving average price of $110.19. Axsome Therapeutics, Inc. has a twelve month low of $75.56 and a twelve month high of $139.13. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of -23.95 and a beta of 0.54.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Monday, August 4th. The company reported ($0.92) earnings per share for the quarter, beating the consensus estimate of ($1.00) by $0.08. Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. The firm had revenue of $150.04 million during the quarter, compared to analysts’ expectations of $140.02 million. Equities research analysts forecast that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current 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.