Arizona State Retirement System Has $682,000 Stock Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Arizona State Retirement System lessened its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 7.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,575 shares of the company’s stock after selling 708 shares during the quarter. Arizona State Retirement System’s holdings in Axsome Therapeutics were worth $682,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AXSM. Eventide Asset Management LLC acquired a new stake in shares of Axsome Therapeutics during the third quarter worth $24,232,000. Goldman Sachs Group Inc. raised its position in shares of Axsome Therapeutics by 549.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 377,337 shares of the company’s stock worth $14,452,000 after acquiring an additional 319,200 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Axsome Therapeutics by 11.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,111,500 shares of the company’s stock valued at $138,835,000 after purchasing an additional 309,362 shares during the period. Norges Bank bought a new stake in shares of Axsome Therapeutics during the 4th quarter valued at about $19,776,000. Finally, BlackRock Inc. grew its stake in Axsome Therapeutics by 10.3% during the second quarter. BlackRock Inc. now owns 2,723,543 shares of the company’s stock worth $195,714,000 after purchasing an additional 255,319 shares during the period. Institutional investors own 81.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Piper Sandler increased their price target on Axsome Therapeutics from $90.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Robert W. Baird assumed coverage on shares of Axsome Therapeutics in a report on Tuesday, March 19th. They issued an “outperform” rating and a $108.00 price target for the company. Royal Bank of Canada lifted their price target on shares of Axsome Therapeutics from $123.00 to $128.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Citigroup increased their price objective on shares of Axsome Therapeutics from $125.00 to $127.00 and gave the stock a “buy” rating in a research report on Tuesday, March 26th. Finally, HC Wainwright restated a “buy” rating and issued a $190.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $119.67.

Insider Transactions at Axsome Therapeutics

In related news, COO Mark L. Jacobson sold 24,662 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $77.24, for a total transaction of $1,904,892.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Roger Jeffs sold 29,976 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $69.70, for a total value of $2,089,327.20. Following the completion of the transaction, the director now directly owns 120,756 shares of the company’s stock, valued at $8,416,693.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Mark L. Jacobson sold 24,662 shares of Axsome Therapeutics stock in a transaction on Monday, April 1st. The stock was sold at an average price of $77.24, for a total value of $1,904,892.88. The disclosure for this sale can be found here. Company insiders own 24.50% of the company’s stock.

Axsome Therapeutics Price Performance

AXSM stock opened at $65.72 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.52 and a current ratio of 3.63. The business has a 50-day simple moving average of $78.69 and a two-hundred day simple moving average of $75.10. The company has a market capitalization of $3.11 billion, a P/E ratio of -12.64 and a beta of 1.13. Axsome Therapeutics, Inc. has a 52-week low of $55.02 and a 52-week high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Tuesday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.21) by $0.48. Axsome Therapeutics had a negative return on equity of 70.67% and a negative net margin of 88.41%. The company had revenue of $71.53 million for the quarter, compared to analysts’ expectations of $70.38 million. Research analysts expect that Axsome Therapeutics, Inc. will post -3.85 EPS for the current fiscal year.

Axsome Therapeutics Profile

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.