Illinois Municipal Retirement Fund Purchases Shares of 5,228 Axsome Therapeutics, Inc. $AXSM

Illinois Municipal Retirement Fund purchased a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 5,228 shares of the company’s stock, valued at approximately $884,000.

A number of other large investors also recently modified their holdings of AXSM. Hillsdale Investment Management Inc. acquired a new stake in shares of Axsome Therapeutics in the first quarter valued at about $9,019,000. Fifth Third Bancorp boosted its position in Axsome Therapeutics by 554.6% during the first quarter. Fifth Third Bancorp now owns 16,214 shares of the company’s stock valued at $2,741,000 after purchasing an additional 13,737 shares during the last quarter. Hsbc Holdings PLC bought a new position in Axsome Therapeutics in the first quarter valued at approximately $11,589,000. Sumitomo Mitsui Trust Group Inc. grew its stake in Axsome Therapeutics by 6.8% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,030 shares of the company’s stock valued at $343,000 after purchasing an additional 130 shares in the last quarter. Finally, Burney Co. acquired a new position in shares of Axsome Therapeutics during the 1st quarter worth approximately $1,629,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group reiterated a “buy” rating and set a $380.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, June 11th. HC Wainwright restated a “buy” rating and set a $290.00 target price on shares of Axsome Therapeutics in a report on Wednesday, July 15th. BMO Capital Markets initiated coverage on shares of Axsome Therapeutics in a research report on Monday. They set an “outperform” rating and a $310.00 price target on the stock. Robert W. Baird increased their price target on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $258.00 price target on shares of Axsome Therapeutics in a research note on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $261.48.

Axsome Therapeutics Trading Up 0.8%

Shares of Axsome Therapeutics stock opened at $241.53 on Friday. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32. The business has a fifty day simple moving average of $238.98 and a two-hundred day simple moving average of $200.32. Axsome Therapeutics, Inc. has a 1 year low of $96.09 and a 1 year high of $260.19. The company has a market capitalization of $12.43 billion, a price-to-earnings ratio of -64.75 and a beta of 0.60.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Monday, May 4th. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.41). The company had revenue of $191.20 million during the quarter, compared to analyst estimates of $191.10 million. Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The company’s quarterly revenue was up 57.4% compared to the same quarter last year. Research analysts forecast that Axsome Therapeutics, Inc. will post -2.45 EPS for the current year.

Insider Buying and Selling at Axsome Therapeutics

In related news, Director Roger Jeffs sold 286 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $246.18, for a total value of $70,407.48. Following the transaction, the director owned 58,653 shares in the company, valued at approximately $14,439,195.54. This represents a 0.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Susan Mahony sold 300 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $237.21, for a total transaction of $71,163.00. Following the completion of the transaction, the director directly owned 1,129 shares in the company, valued at approximately $267,810.09. This represents a 20.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 155,852 shares of company stock worth $37,230,112 in the last ninety days. Insiders own 20.60% of the company’s stock.

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.