State of New Jersey Common Pension Fund D Increases Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

State of New Jersey Common Pension Fund D increased its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 17.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,049 shares of the company’s stock after buying an additional 5,576 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.08% of Axsome Therapeutics worth $3,028,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. lifted its position in Axsome Therapeutics by 1.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 18,734 shares of the company’s stock worth $1,309,000 after buying an additional 197 shares in the last quarter. Fifth Third Bancorp increased its stake in Axsome Therapeutics by 100.0% during the third quarter. Fifth Third Bancorp now owns 400 shares of the company’s stock worth $28,000 after acquiring an additional 200 shares during the last quarter. Rafferty Asset Management LLC increased its stake in Axsome Therapeutics by 4.7% during the third quarter. Rafferty Asset Management LLC now owns 4,560 shares of the company’s stock worth $319,000 after acquiring an additional 205 shares during the last quarter. Amalgamated Bank increased its stake in Axsome Therapeutics by 5.2% during the third quarter. Amalgamated Bank now owns 5,229 shares of the company’s stock worth $365,000 after acquiring an additional 257 shares during the last quarter. Finally, Washington Trust Advisors Inc. acquired a new stake in Axsome Therapeutics during the fourth quarter worth $26,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Insiders Place Their Bets

In other news, COO Mark L. Jacobson sold 24,662 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $77.24, for a total value of $1,904,892.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Axsome Therapeutics news, Director Roger Jeffs sold 29,976 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 120,756 shares in the company, valued at $8,416,693.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Mark L. Jacobson sold 24,662 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were 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. 24.50% of the stock is currently owned by company insiders.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM opened at $71.71 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.63 and a quick ratio of 3.52. The company has a market cap of $3.40 billion, a price-to-earnings ratio of -13.79 and a beta of 1.13. The stock’s 50-day moving average is $75.29 and its two-hundred day moving average is $75.24. Axsome Therapeutics, Inc. has a 1-year low of $55.02 and a 1-year high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.48. The business had revenue of $71.53 million during the quarter, compared to the consensus estimate of $70.38 million. Axsome Therapeutics had a negative return on equity of 70.67% and a negative net margin of 88.41%. Analysts forecast that Axsome Therapeutics, Inc. will post -3.81 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on AXSM shares. Truist Financial reissued a “buy” rating and set a $150.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, March 26th. UBS Group started coverage on Axsome Therapeutics in a research note on Tuesday, February 6th. They set a “buy” rating and a $111.00 target price for the company. Piper Sandler raised their target price on Axsome Therapeutics from $90.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Royal Bank of Canada raised their target price on Axsome Therapeutics from $123.00 to $128.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Finally, HC Wainwright reissued a “buy” rating and set 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 assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $119.67.

Axsome Therapeutics Company 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.