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

Peregrine Capital Management LLC lifted its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 21.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 87,187 shares of the company’s stock after acquiring an additional 15,258 shares during the period. Peregrine Capital Management LLC owned approximately 0.18% of Axsome Therapeutics worth $7,377,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of AXSM. R Squared Ltd purchased a new stake in Axsome Therapeutics during the 4th quarter worth approximately $64,000. KBC Group NV grew 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 valued at $113,000 after buying an additional 385 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew 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 valued at $156,000 after buying an additional 318 shares during the last quarter. Moors & Cabot Inc. purchased a new stake in Axsome Therapeutics during the 3rd quarter valued at about $200,000. Finally, Whalen Wealth Management Inc. purchased a new stake in Axsome Therapeutics during the 3rd quarter valued at about $236,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Trading Down 2.3 %

Shares of NASDAQ:AXSM opened at $128.09 on Wednesday. Axsome Therapeutics, Inc. has a 1 year low of $64.11 and a 1 year high of $134.18. The firm has a market capitalization of $6.21 billion, a price-to-earnings ratio of -19.62 and a beta of 1.05. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. The business’s 50 day moving average price is $98.47 and its 200-day moving average price is $93.68.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating the consensus estimate 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%. On average, equities research analysts forecast that Axsome Therapeutics, Inc. will post -4.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on AXSM shares. Mizuho boosted their price target on Axsome Therapeutics from $137.00 to $195.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft initiated coverage on Axsome Therapeutics in a research report on Tuesday, February 11th. They issued a “buy” rating and a $176.00 target price on the stock. Truist Financial upped their price objective on shares of Axsome Therapeutics from $180.00 to $190.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Wells Fargo & Company upped their price objective on shares of Axsome Therapeutics from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Robert W. Baird upped their price target on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $147.13.

Insider Activity at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the transaction, the chief financial officer now owns 42,187 shares in the company, valued at $5,529,450.09. This trade represents a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 22.40% of the stock is currently owned by corporate insiders.

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.