FORA Capital LLC Acquires Shares of 11,058 Axsome Therapeutics, Inc. (NASDAQ:AXSM)

FORA Capital LLC bought a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 11,058 shares of the company’s stock, valued at approximately $994,000.

A number of other institutional investors have also modified their holdings of AXSM. Northwestern Mutual Wealth Management Co. acquired a new stake in Axsome Therapeutics during the second quarter valued at approximately $27,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Axsome Therapeutics during the second quarter worth $47,000. Russell Investments Group Ltd. lifted its stake in Axsome Therapeutics by 5,550.0% during the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after purchasing an additional 777 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Axsome Therapeutics by 22.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock worth $156,000 after purchasing an additional 318 shares during the period. Finally, Moors & Cabot Inc. bought a new stake in Axsome Therapeutics during the third quarter valued at $200,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

Insider Transactions at Axsome Therapeutics

In other news, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the completion of the transaction, the director now owns 10,002 shares in the company, valued at approximately $913,282.62. This trade represents a 52.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 22.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on AXSM. UBS Group decreased their price target on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Needham & Company LLC restated a “buy” rating and issued a $130.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, November 12th. Bank of America raised Axsome Therapeutics from a “neutral” rating to a “buy” rating and upped their target price for the company from $95.00 to $106.00 in a report on Tuesday, August 6th. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Wells Fargo & Company began coverage on Axsome Therapeutics in a research note on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price objective for the company. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.93.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $99.65 on Friday. The firm has a market capitalization of $4.83 billion, a PE ratio of -15.26 and a beta of 1.26. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. The firm has a 50-day moving average price of $91.48 and a 200 day moving average price of $85.67. Axsome Therapeutics, Inc. has a 52-week low of $64.11 and a 52-week high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The business had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. During the same period last year, the firm posted ($1.32) earnings per share. On average, sell-side analysts anticipate 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.