Peregrine Capital Management LLC Grows Stock Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Peregrine Capital Management LLC grew its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 21.2% during the fourth quarter, HoldingsChannel reports. The firm owned 87,187 shares of the company’s stock after acquiring an additional 15,258 shares during the period. Peregrine Capital Management LLC’s holdings in Axsome Therapeutics were worth $7,377,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. R Squared Ltd purchased a new position in Axsome Therapeutics during the fourth quarter worth approximately $64,000. KBC Group NV lifted its position in 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 buying an additional 385 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Axsome Therapeutics by 22.4% during the 3rd 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. Moors & Cabot Inc. acquired a new position in shares of Axsome Therapeutics during the 3rd quarter valued at about $200,000. Finally, Whalen Wealth Management Inc. purchased a new stake in shares of Axsome Therapeutics in the third quarter valued at about $236,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on AXSM shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $139.00 target price on shares of Axsome Therapeutics in a research note on Wednesday, January 29th. Mizuho raised their price target on shares of Axsome Therapeutics from $137.00 to $195.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Wells Fargo & Company upped their price objective on Axsome Therapeutics from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Truist Financial increased their price objective on Axsome Therapeutics from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, Bank of America lifted their target price on Axsome Therapeutics from $143.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $147.13.

Insider Transactions at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the transaction, the chief financial officer now directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 22.40% of the company’s stock.

Axsome Therapeutics Stock Down 2.3 %

Shares of AXSM opened at $128.09 on Wednesday. The company’s 50-day simple moving average is $98.47 and its 200-day simple moving average is $93.68. 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 1 year low of $64.11 and a 1 year high of $134.18. The stock has a market capitalization of $6.21 billion, a PE ratio of -19.62 and a beta of 1.05.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. Analysts forecast that Axsome Therapeutics, Inc. will post -4.7 earnings per share 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.