Illinois Municipal Retirement Fund Purchases 5,812 Shares of Axsome Therapeutics, Inc. $AXSM

Illinois Municipal Retirement Fund increased its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 72.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,818 shares of the company’s stock after purchasing an additional 5,812 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Axsome Therapeutics were worth $2,548,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AXSM. BlackRock Inc. bought a new position in shares of Axsome Therapeutics during the 2nd quarter worth about $759,695,000. OneDigital Investment Advisors LLC bought a new stake in Axsome Therapeutics in the second quarter valued at about $1,906,000. Baird Financial Group Inc. bought a new stake in Axsome Therapeutics in the second quarter valued at about $2,497,000. Lisanti Capital Growth LLC bought a new stake in Axsome Therapeutics in the second quarter valued at about $5,097,000. Finally, Legal & General Group Plc acquired a new position in Axsome Therapeutics in the second quarter worth about $8,095,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

Insiders Place Their Bets

In other Axsome Therapeutics news, COO Mark Jacobson sold 10,000 shares of Axsome Therapeutics stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $208.65, for a total value of $2,086,500.00. Following the completion of the transaction, the chief operating officer owned 10,000 shares in the company, valued at approximately $2,086,500. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 20.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Robert W. Baird decreased their price objective on Axsome Therapeutics from $246.00 to $220.00 and set an “outperform” rating on the stock in a report on Tuesday, November 3rd. Guggenheim dropped their target price on Axsome Therapeutics from $275.00 to $250.00 and set a “buy” rating for the company in a report on Tuesday, November 3rd. Piper Sandler cut their target price on Axsome Therapeutics from $258.00 to $238.00 and set an “overweight” rating for the company in a research report on Monday, October 26th. Zacks Research upgraded Axsome Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Finally, Deutsche Bank lowered their price target on Axsome Therapeutics from $280.00 to $267.00 and set a “buy” rating on the stock in a research report on Tuesday, September 29th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $266.21.

Axsome Therapeutics Price Performance

NASDAQ:AXSM traded down $2.68 on Friday, reaching $141.69. The stock had a trading volume of 972,544 shares, compared to its average volume of 1,136,376. The company has a market capitalization of $7.45 billion, a P/E ratio of -46.30 and a beta of 0.86. Axsome Therapeutics, Inc. has a 1-year low of $123.00 and a 1-year high of $260.19. The company has a quick ratio of 1.34, a current ratio of 1.42 and a debt-to-equity ratio of 1.21. The stock has a fifty day moving average price of $171.45 and a 200-day moving average price of $196.75.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Monday, November 2nd. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.38. The firm had revenue of $259.69 million for the quarter, compared to analysts’ expectations of $249.19 million. Axsome Therapeutics had a negative net margin of 18.18% and a negative return on equity of 198.73%. The company’s quarterly revenue was up 51.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.94) earnings per share. Research analysts forecast that Axsome Therapeutics, Inc. will post -2.27 EPS for the current year.

Axsome Therapeutics Profile

Axsome Therapeutics is a biopharmaceutical company focused on developing and commercializing treatments for central nervous system disorders. The company is headquartered in New York and is led by founder, chairman and chief executive officer Herriot Tabuteau. Its marketed products include Auvelity, an oral treatment for major depressive disorder in adults, and Sunosi, which is used to improve wakefulness in adults with excessive daytime sleepiness associated with narcolepsy or obstructive sleep apnea.