Pallas Capital Advisors LLC Has $8.02 Million Stake in Axsome Therapeutics, Inc. $AXSM

Pallas Capital Advisors LLC raised its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 11.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 43,909 shares of the company’s stock after purchasing an additional 4,465 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Axsome Therapeutics were worth $8,020,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in AXSM. Wellington Management Group LLP increased its holdings in shares of Axsome Therapeutics by 84.1% during the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock worth $162,082,000 after purchasing an additional 609,516 shares during the period. Norges Bank bought a new stake in shares of Axsome Therapeutics in the second quarter valued at approximately $48,889,000. Invesco Ltd. boosted its stake in shares of Axsome Therapeutics by 73.3% in the third quarter. Invesco Ltd. now owns 990,557 shares of the company’s stock valued at $120,303,000 after buying an additional 419,008 shares during the period. Adage Capital Partners GP L.L.C. grew its position in Axsome Therapeutics by 831.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 447,000 shares of the company’s stock worth $46,662,000 after buying an additional 399,000 shares in the last quarter. Finally, Hood River Capital Management LLC acquired a new stake in Axsome Therapeutics during the second quarter worth approximately $38,740,000. 81.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on AXSM. Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 price objective on shares of Axsome Therapeutics in a report on Monday, February 23rd. HC Wainwright increased their target price on Axsome Therapeutics from $200.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Cantor Fitzgerald restated an “overweight” rating on shares of Axsome Therapeutics in a research report on Wednesday, January 14th. Mizuho set a $230.00 price target on Axsome Therapeutics in a research note on Thursday, February 19th. Finally, Wolfe Research started coverage on shares of Axsome Therapeutics in a research report on Monday, February 23rd. They set an “outperform” rating and a $230.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $217.59.

Axsome Therapeutics Stock Down 4.8%

NASDAQ AXSM opened at $156.35 on Friday. The business has a fifty day moving average price of $173.13 and a two-hundred day moving average price of $152.00. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.55 and a quick ratio of 1.48. Axsome Therapeutics, Inc. has a fifty-two week low of $86.99 and a fifty-two week high of $191.50. The stock has a market capitalization of $8.00 billion, a PE ratio of -42.37 and a beta of 0.43.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Monday, February 23rd. The company reported ($0.56) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.70) by $0.14. Axsome Therapeutics had a negative return on equity of 232.61% and a negative net margin of 28.69%.The company had revenue of $196.00 million for the quarter, compared to analyst estimates of $191.33 million. The company’s revenue was up 65.0% on a year-over-year basis. Equities analysts expect that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Axsome Therapeutics news, insider Ari Maizel sold 7,500 shares of the business’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $184.44, for a total transaction of $1,383,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Herriot Tabuteau sold 32,410 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $185.60, for a total transaction of $6,015,296.00. Following the completion of the transaction, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at $1,341,702.40. This trade represents a 81.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 289,279 shares of company stock valued at $49,496,963 over the last ninety days. 22.30% of the stock is owned by insiders.

About Axsome Therapeutics

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.