Phocas Financial Corp. Sells 15,049 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Phocas Financial Corp. lessened its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 85.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,652 shares of the company's stock after selling 15,049 shares during the quarter. Phocas Financial Corp.'s holdings in Axsome Therapeutics were worth $224,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of AXSM. R Squared Ltd purchased a new stake in shares of Axsome Therapeutics during the fourth quarter worth about $64,000. KBC Group NV boosted its holdings in shares of Axsome Therapeutics by 40.5% during the fourth quarter. KBC Group NV now owns 1,336 shares of the company's stock worth $113,000 after purchasing an additional 385 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Axsome Therapeutics by 22.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company's stock worth $156,000 after purchasing an additional 318 shares during the period. Moors & Cabot Inc. purchased a new stake in shares of Axsome Therapeutics during the third quarter worth about $200,000. Finally, Whalen Wealth Management Inc. purchased a new stake in shares of Axsome Therapeutics during the third quarter worth about $236,000. 81.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. StockNews.com upgraded shares of Axsome Therapeutics from a "sell" rating to a "hold" rating in a report on Wednesday, November 20th. Wells Fargo & Company raised their price objective on shares of Axsome Therapeutics from $140.00 to $160.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft started coverage on shares of Axsome Therapeutics in a report on Tuesday, February 11th. They issued a "buy" rating and a $176.00 price objective for the company. Truist Financial raised their price objective on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Finally, HC Wainwright raised their target price on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $165.36.

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Insiders Place Their Bets

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the sale, the chief financial officer now owns 42,187 shares of the company's stock, valued at approximately $5,529,450.09. The trade was a 6.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 22.40% of the stock is currently owned by insiders.

Axsome Therapeutics Stock Up 0.9 %

Shares of AXSM traded up $1.13 on Friday, hitting $127.54. 851,283 shares of the stock traded hands, compared to its average volume of 1,080,609. The company has a market capitalization of $6.22 billion, a PE ratio of -21.29 and a beta of 1.05. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. The business has a 50 day simple moving average of $105.00 and a 200 day simple moving average of $96.44. Axsome Therapeutics, Inc. has a one year low of $64.11 and a one year high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, topping analysts' consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The business had revenue of $118.77 million during the quarter, compared to the consensus estimate of $117.83 million. As a group, equities analysts forecast that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Axsome Therapeutics Company 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.