J. Goldman & Co LP Takes Position in Axsome Therapeutics, Inc. $AXSM

J. Goldman & Co LP acquired a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 23,014 shares of the company’s stock, valued at approximately $5,633,000.

A number of other hedge funds have also recently made changes to their positions in the company. Kemnay Advisory Services Inc. acquired a new position in shares of Axsome Therapeutics in the fourth quarter valued at approximately $31,000. Hollencrest Capital Management increased its position in Axsome Therapeutics by 400.0% in the 1st quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock valued at $34,000 after acquiring an additional 160 shares during the period. Ameriflex Group Inc. acquired a new position in shares of Axsome Therapeutics during the fourth quarter worth $37,000. Advisory Services Network LLC acquired a new position in shares of Axsome Therapeutics during the third quarter worth $40,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Axsome Therapeutics by 602.6% in the fourth quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock worth $50,000 after purchasing an additional 235 shares during the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

Axsome Therapeutics Price Performance

Shares of AXSM opened at $205.48 on Wednesday. The firm has a market cap of $10.76 billion, a PE ratio of -54.79 and a beta of 0.65. Axsome Therapeutics, Inc. has a 52-week low of $112.90 and a 52-week high of $260.19. The business’s 50 day moving average price is $230.24 and its two-hundred day moving average price is $206.43. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.34 and a current ratio of 1.43.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.10). The company had revenue of $218.38 million for the quarter, compared to analyst estimates of $221.11 million. Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%. On average, equities analysts anticipate that Axsome Therapeutics, Inc. will post -2.78 EPS for the current year.

Insiders Place Their Bets

In related news, Director Roger Jeffs sold 286 shares of Axsome Therapeutics stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $246.18, for a total value of $70,407.48. Following the completion of the sale, the director owned 58,653 shares of the company’s stock, valued at approximately $14,439,195.54. This trade represents a 0.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total transaction of $71,163.00. Following the sale, the director directly owned 1,129 shares of the company’s stock, valued at approximately $267,810.09. The trade was a 20.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 200,766 shares of company stock valued at $46,685,646. 20.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $272.00 target price on shares of Axsome Therapeutics in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft set a $280.00 price target on Axsome Therapeutics in a research note on Tuesday, May 5th. Royal Bank Of Canada cut their price objective on Axsome Therapeutics from $304.00 to $297.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 11th. Piper Sandler reiterated an “overweight” rating and issued a $258.00 target price on shares of Axsome Therapeutics in a report on Monday, May 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $267.60.

About Axsome Therapeutics

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.