FORA Capital LLC Purchases New Shares in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

FORA Capital LLC acquired a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 11,058 shares of the company’s stock, valued at approximately $994,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Axsome Therapeutics during the second quarter valued at $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Axsome Therapeutics during the 2nd quarter worth about $47,000. Russell Investments Group Ltd. grew its stake in Axsome Therapeutics by 5,550.0% during the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock valued at $63,000 after acquiring an additional 777 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Axsome Therapeutics by 22.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after purchasing an additional 318 shares during the period. Finally, Moors & Cabot Inc. purchased a new stake in shares of Axsome Therapeutics in the third quarter worth approximately $200,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Axsome Therapeutics Trading Up 2.7 %

NASDAQ:AXSM opened at $99.65 on Friday. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. The company’s 50 day moving average is $91.48 and its 200-day moving average is $85.67. The firm has a market cap of $4.83 billion, a price-to-earnings ratio of -15.26 and a beta of 1.26. Axsome Therapeutics, Inc. has a 12 month low of $64.11 and a 12 month high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.04. The firm had revenue of $104.76 million during the quarter, compared to analyst estimates of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same quarter in the previous year, the business earned ($1.32) EPS. Equities analysts anticipate that Axsome Therapeutics, Inc. will post -4.75 EPS for the current year.

Insider Buying and Selling

In other news, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total value of $1,005,870.96. Following the sale, the director now owns 10,002 shares in the company, valued at approximately $913,282.62. This trade represents a 52.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 22.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AXSM. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Cantor Fitzgerald restated an “overweight” rating and set a $107.00 price target on shares of Axsome Therapeutics in a report on Monday, September 16th. Bank of America upgraded Axsome Therapeutics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $95.00 to $106.00 in a report on Tuesday, August 6th. Robert W. Baird boosted their target price on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $180.00 price target on shares of Axsome Therapeutics in a research note on Monday. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $124.93.

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.