Oak Ridge Investments LLC Cuts Stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Oak Ridge Investments LLC trimmed its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 3.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 13,417 shares of the company’s stock after selling 519 shares during the period. Oak Ridge Investments LLC’s holdings in Axsome Therapeutics were worth $1,206,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AXSM. Sofinnova Investments Inc. purchased a new stake in Axsome Therapeutics during the 2nd quarter valued at about $24,971,000. Tri Locum Partners LP grew its position in Axsome Therapeutics by 198.4% during the 2nd quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock valued at $24,674,000 after purchasing an additional 203,802 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Axsome Therapeutics during the 1st quarter valued at about $11,036,000. Hood River Capital Management LLC grew its position in Axsome Therapeutics by 32.6% during the 1st quarter. Hood River Capital Management LLC now owns 520,750 shares of the company’s stock valued at $41,556,000 after purchasing an additional 127,997 shares during the last quarter. Finally, Affinity Asset Advisors LLC lifted its stake in Axsome Therapeutics by 179.5% during the 1st quarter. Affinity Asset Advisors LLC now owns 139,758 shares of the company’s stock valued at $11,153,000 after acquiring an additional 89,758 shares during the period. 81.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on AXSM shares. Cantor Fitzgerald restated an “overweight” rating and set a $107.00 target price on shares of Axsome Therapeutics in a research note on Monday, September 16th. Royal Bank of Canada upped their target price on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Bank of America upgraded shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and upped their target price for the company from $95.00 to $106.00 in a research note on Tuesday, August 6th. Needham & Company LLC restated a “buy” rating and set a $130.00 target price on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Finally, UBS Group lowered their target price on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. One research analyst has rated the stock with a hold rating and fourteen have given a buy 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 $124.64.

Insider Activity

In related news, COO Mark L. Jacobson sold 47,739 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the completion of the sale, the chief operating officer now owns 5,783 shares in the company, valued at approximately $487,275.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the business’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 $913,282.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Mark L. Jacobson sold 47,739 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the completion of the sale, the chief operating officer now owns 5,783 shares in the company, valued at approximately $487,275.58. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 22.40% of the company’s stock.

Axsome Therapeutics Price Performance

Shares of NASDAQ:AXSM opened at $89.03 on Friday. The company has a market capitalization of $4.23 billion, a P/E ratio of -13.95 and a beta of 1.26. Axsome Therapeutics, Inc. has a 1-year low of $55.02 and a 1-year high of $98.40. The firm’s 50 day simple moving average is $90.16 and its two-hundred day simple moving average is $82.54. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.48 and a quick ratio of 2.40.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, August 5th. The company reported ($1.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.30) by $0.06. Axsome Therapeutics had a negative net margin of 105.85% and a negative return on equity of 117.46%. The company had revenue of $87.17 million for the quarter, compared to analysts’ expectations of $84.53 million. Research analysts expect that Axsome Therapeutics, Inc. will post -4.73 EPS for the current fiscal year.

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.