12,293 Shares in Axsome Therapeutics, Inc. $AXSM Bought by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio bought 12,293 Axsome Therapeutics shares worth approximately $3.0 million in the second quarter. Institutional investors now own 81.49% of the company.
• Analysts maintain a generally bullish outlook, with Axsome receiving a “Moderate Buy” consensus rating and an average price target of $267.60; targets range as high as $316.
• Axsome reported a quarterly loss of $0.99 per share, missing estimates, while insiders sold approximately $44.8 million of stock over the past three months.

Public Employees Retirement System of Ohio bought a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,293 shares of the company's stock, valued at approximately $3,009,000.

Other institutional investors have also bought and sold shares of the company. Seven Fleet Capital Management LP acquired a new stake in Axsome Therapeutics during the 2nd quarter worth about $7,055,740. Corient Private Wealth LP acquired a new position in Axsome Therapeutics in the second quarter valued at approximately $1,262,000. Panoramic Capital LLC acquired a new position in Axsome Therapeutics in the second quarter valued at approximately $10,770,000. Philadelphia Investment Partners LLC bought a new position in shares of Axsome Therapeutics during the 2nd quarter worth approximately $619,000. Finally, Bamco Inc. NY bought a new position in shares of Axsome Therapeutics during the 2nd quarter worth approximately $734,000. Institutional investors own 81.49% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Axsome Therapeutics from $255.00 to $256.00 and gave the company an "overweight" rating in a research note on Tuesday, August 11th. HC Wainwright restated a "buy" rating and issued a $290.00 price target on shares of Axsome Therapeutics in a report on Monday, August 31st. BMO Capital Markets started coverage on shares of Axsome Therapeutics in a report on Monday, July 20th. They set an "outperform" rating and a $310.00 price objective on the stock. Zacks Research raised shares of Axsome Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 18th. Finally, Mizuho raised their target price on Axsome Therapeutics from $306.00 to $316.00 and gave the company an "outperform" rating in a research note on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Axsome Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $267.60.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $206.68 on Friday. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.43 and a quick ratio of 1.34. The firm has a 50-day moving average of $223.81 and a 200-day moving average of $207.48. Axsome Therapeutics, Inc. has a one year low of $112.90 and a one year high of $260.19. The company has a market cap of $10.83 billion, a P/E ratio of -55.11 and a beta of 0.71.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.10). The firm had revenue of $218.38 million for the quarter, compared to analysts' expectations of $221.11 million. Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%. Equities research analysts forecast that Axsome Therapeutics, Inc. will post -2.8 EPS for the current fiscal year.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 10,000 shares of the business's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $208.65, for a total value of $2,086,500.00. Following the transaction, the chief operating officer owned 10,000 shares of the company's stock, valued at approximately $2,086,500. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Herriot Tabuteau sold 49,670 shares of the company's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $241.01, for a total value of $11,970,966.70. Following the completion of the transaction, the chief executive officer owned 7,229 shares of the company's stock, valued at $1,742,261.29. This trade represents a 87.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 193,229 shares of company stock worth $44,752,676. 20.60% of the stock is owned by insiders.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome's pipeline includes several late-stage and approved product candidates.

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