Moors & Cabot Inc. Purchases Shares of 2,230 Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Moors & Cabot Inc. purchased a new stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,230 shares of the company’s stock, valued at approximately $200,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. bought a new position in Axsome Therapeutics in the 2nd quarter valued at about $27,000. EntryPoint Capital LLC bought a new position in shares of Axsome Therapeutics in the first quarter valued at approximately $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Axsome Therapeutics during the second quarter valued at approximately $47,000. Russell Investments Group Ltd. raised its holdings in Axsome Therapeutics by 5,550.0% during the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after purchasing an additional 777 shares in the last quarter. Finally, Natixis lifted its position in Axsome Therapeutics by 13.6% in the first quarter. Natixis now owns 1,235 shares of the company’s stock worth $99,000 after purchasing an additional 148 shares during the period. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Axsome Therapeutics Trading Up 0.5 %

NASDAQ:AXSM opened at $98.68 on Monday. The stock has a market cap of $4.78 billion, a PE ratio of -15.11 and a beta of 1.26. Axsome Therapeutics, Inc. has a fifty-two week low of $60.28 and a fifty-two week high of $105.00. 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 stock’s 50-day moving average is $90.99 and its two-hundred day moving average is $85.06.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data 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 analyst estimates of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same quarter in the prior year, the business earned ($1.32) EPS. As a group, equities research analysts forecast that Axsome Therapeutics, Inc. will post -4.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Bank of America raised Axsome Therapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $95.00 to $106.00 in a research note on Tuesday, August 6th. HC Wainwright reiterated a “buy” rating and issued a $180.00 target price on shares of Axsome Therapeutics in a report on Thursday, September 5th. Robert W. Baird raised their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. UBS Group dropped their price target on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, Wells Fargo & Company started coverage on Axsome Therapeutics in a research note on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price objective for the company. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $124.93.

Insider Buying and Selling

In related 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 value of $1,005,870.96. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. 22.40% of the stock is 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.