Phocas Financial Corp. Sells 1,098 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Phocas Financial Corp. decreased its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 5.8% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 17,701 shares of the company’s stock after selling 1,098 shares during the period. Phocas Financial Corp.’s holdings in Axsome Therapeutics were worth $1,591,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Axsome Therapeutics in the second quarter worth $27,000. EntryPoint Capital LLC bought a new stake in Axsome Therapeutics during the 1st quarter worth about $35,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Axsome Therapeutics during the 2nd quarter worth about $47,000. Russell Investments Group Ltd. boosted its stake in shares of Axsome Therapeutics by 5,550.0% during the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after buying an additional 777 shares during the last quarter. Finally, Covestor Ltd grew its holdings in shares of Axsome Therapeutics by 54,750.0% in the 1st quarter. Covestor Ltd now owns 1,097 shares of the company’s stock valued at $88,000 after acquiring an additional 1,095 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Insider Buying and Selling

In related news, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the completion of the sale, the director now owns 10,002 shares of the company’s stock, valued at $913,282.62. This represents a 52.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 22.40% of the stock is currently owned by company insiders.

Axsome Therapeutics Stock Up 3.3 %

AXSM stock opened at $95.46 on Wednesday. Axsome Therapeutics, Inc. has a fifty-two week low of $58.61 and a fifty-two week high of $105.00. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. The stock has a market capitalization of $4.63 billion, a price-to-earnings ratio of -14.62 and a beta of 1.26. The business’s fifty day moving average price is $90.63 and its two-hundred day moving average price is $84.54.

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

Wall Street Analysts Forecast Growth

AXSM has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $130.00 target price on shares of Axsome Therapeutics in a report on Tuesday, November 12th. UBS Group cut their price objective on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Robert W. Baird boosted their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Royal Bank of Canada upped their price target on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Bank of America upgraded shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $95.00 to $106.00 in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $124.93.

About Axsome Therapeutics

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.