FORA Capital LLC Makes New $994,000 Investment in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

FORA Capital LLC purchased a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 11,058 shares of the company's stock, valued at approximately $994,000.

Several other large investors have also recently modified their holdings of AXSM. Arizona State Retirement System increased its holdings in Axsome Therapeutics by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 8,630 shares of the company's stock worth $695,000 after buying an additional 177 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Axsome Therapeutics by 22.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company's stock worth $156,000 after acquiring an additional 318 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in Axsome Therapeutics during the second quarter valued at $27,000. WCM Investment Management LLC grew its stake in shares of Axsome Therapeutics by 0.3% during the 3rd quarter. WCM Investment Management LLC now owns 113,692 shares of the company's stock valued at $10,191,000 after acquiring an additional 347 shares during the period. Finally, US Bancorp DE raised its stake in Axsome Therapeutics by 0.3% during the 3rd quarter. US Bancorp DE now owns 133,126 shares of the company's stock worth $11,964,000 after acquiring an additional 421 shares during the period. Hedge funds and other institutional investors own 81.49% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wells Fargo & Company started coverage on shares of Axsome Therapeutics in a report on Tuesday, September 3rd. They issued an "overweight" rating and a $140.00 target price for the company. Cantor Fitzgerald reissued an "overweight" rating and set a $107.00 target price on shares of Axsome Therapeutics in a research note on Monday, September 16th. Bank of America raised Axsome Therapeutics from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $95.00 to $106.00 in a report on Tuesday, August 6th. Royal Bank of Canada boosted their price target on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an "outperform" rating in a report on Friday, October 4th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $130.00 price target on shares of Axsome Therapeutics in a report on Tuesday, November 12th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $124.93.

Axsome Therapeutics Price Performance

NASDAQ:AXSM traded down $1.43 during trading hours on Friday, reaching $98.22. The stock had a trading volume of 269,480 shares, compared to its average volume of 617,780. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. Axsome Therapeutics, Inc. has a 52 week low of $64.11 and a 52 week high of $105.00. The company has a 50 day moving average price of $91.48 and a two-hundred day moving average price of $85.67. The stock has a market capitalization of $4.76 billion, a PE ratio of -15.23 and a beta of 1.26.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating the consensus estimate of ($1.38) by $0.04. The firm had revenue of $104.76 million for the quarter, compared to the consensus estimate of $98.71 million. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. During the same quarter in the previous year, the company posted ($1.32) EPS. As a group, sell-side analysts anticipate that Axsome Therapeutics, Inc. will post -4.66 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Mark E. Saad sold 11,016 shares of the business's stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the transaction, the director now owns 10,002 shares of the company's stock, valued at approximately $913,282.62. The trade was a 52.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 22.40% of the company's stock.

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.