Axsome Therapeutics, Inc. $AXSM Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC lessened its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 12.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,521 shares of the company’s stock after selling 8,947 shares during the period. Peregrine Capital Management LLC owned 0.13% of Axsome Therapeutics worth $7,836,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in shares of Axsome Therapeutics by 5.8% during the 2nd quarter. Geode Capital Management LLC now owns 989,453 shares of the company’s stock worth $103,303,000 after purchasing an additional 54,600 shares during the last quarter. State Street Corp lifted its position in Axsome Therapeutics by 5.8% during the second quarter. State Street Corp now owns 958,503 shares of the company’s stock worth $100,058,000 after buying an additional 52,483 shares in the last quarter. Bank of America Corp DE boosted its stake in Axsome Therapeutics by 41.1% during the second quarter. Bank of America Corp DE now owns 753,429 shares of the company’s stock worth $78,650,000 after buying an additional 219,527 shares during the last quarter. Man Group plc boosted its stake in Axsome Therapeutics by 2.3% during the second quarter. Man Group plc now owns 525,069 shares of the company’s stock worth $54,812,000 after buying an additional 11,848 shares during the last quarter. Finally, Norges Bank purchased a new stake in Axsome Therapeutics in the 2nd quarter valued at $48,889,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. HC Wainwright lifted their price target on Axsome Therapeutics from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Monday. Needham & Company LLC restated a “buy” rating and set a $225.00 price objective on shares of Axsome Therapeutics in a research report on Monday. B. Riley started coverage on shares of Axsome Therapeutics in a research note on Wednesday, October 1st. They set a “buy” rating and a $179.00 target price on the stock. Morgan Stanley cut shares of Axsome Therapeutics from an “overweight” rating to a “reduce” rating in a research note on Thursday. Finally, UBS Group raised their price target on shares of Axsome Therapeutics from $163.00 to $248.00 and gave the stock a “buy” rating in a report on Tuesday. 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $192.35.

Axsome Therapeutics Trading Up 1.1%

NASDAQ AXSM opened at $169.38 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.57 and a quick ratio of 1.50. The stock has a market capitalization of $8.54 billion, a P/E ratio of -36.27, a PEG ratio of 8.83 and a beta of 0.44. The firm’s 50-day moving average is $150.91 and its two-hundred day moving average is $127.82. Axsome Therapeutics, Inc. has a 12 month low of $79.19 and a 12 month high of $184.40.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Monday, November 3rd. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.12). Axsome Therapeutics had a negative net margin of 40.90% and a negative return on equity of 277.31%. The company had revenue of $170.99 million during the quarter, compared to analysts’ expectations of $162.96 million. Axsome Therapeutics’s revenue for the quarter was up 63.2% on a year-over-year basis. On average, sell-side analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 31,261 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $170.38, for a total value of $5,326,249.18. Following the sale, the chief executive officer owned 7,229 shares of the company’s stock, valued at $1,231,677.02. The trade was a 81.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark E. Saad sold 37,577 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $165.18, for a total value of $6,206,968.86. Following the transaction, the director owned 10,002 shares of the company’s stock, valued at approximately $1,652,130.36. This represents a 78.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 420,903 shares of company stock valued at $63,552,838 in the last quarter. 22.30% of the stock is owned by insiders.

Axsome Therapeutics Company 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.