State of New Jersey Common Pension Fund D Has $2.01 Million Stock Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

State of New Jersey Common Pension Fund D decreased its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 9.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 22,411 shares of the company’s stock after selling 2,318 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Axsome Therapeutics were worth $2,014,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in AXSM. Sofinnova Investments Inc. bought a new position in Axsome Therapeutics during the second quarter valued at about $24,971,000. Tri Locum Partners LP raised its stake in shares of Axsome Therapeutics by 198.4% in the second quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock valued at $24,674,000 after purchasing an additional 203,802 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Axsome Therapeutics in the first quarter worth $11,036,000. Hood River Capital Management LLC boosted its stake in Axsome Therapeutics by 32.6% during the first quarter. Hood River Capital Management LLC now owns 520,750 shares of the company’s stock worth $41,556,000 after buying an additional 127,997 shares in the last quarter. Finally, Affinity Asset Advisors LLC increased its holdings in Axsome Therapeutics by 179.5% in the 1st quarter. Affinity Asset Advisors LLC now owns 139,758 shares of the company’s stock valued at $11,153,000 after buying an additional 89,758 shares during the period. Institutional investors own 81.49% of the company’s stock.

Analysts Set New Price Targets

AXSM has been the topic of several recent research reports. StockNews.com lowered shares of Axsome Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th. UBS Group lowered their price objective on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Bank of America raised Axsome Therapeutics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $95.00 to $106.00 in a research note on Tuesday, August 6th. Needham & Company LLC reiterated a “buy” rating and set a $130.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada boosted their target price on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $124.93.

Axsome Therapeutics Stock Down 4.3 %

NASDAQ AXSM opened at $93.17 on Friday. The stock has a market capitalization of $4.52 billion, a P/E ratio of -14.27 and a beta of 1.26. Axsome Therapeutics, Inc. has a 52 week low of $56.66 and a 52 week high of $105.00. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.40 and a current ratio of 2.44. The stock has a fifty day moving average of $90.66 and a 200-day moving average of $84.35.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The company had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. During the same quarter in the previous year, the company earned ($1.32) EPS. On average, equities research analysts forecast that Axsome Therapeutics, Inc. will post -5.04 EPS for the current year.

Insider Buying and Selling at Axsome Therapeutics

In other news, Director Mark E. Saad sold 11,016 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 10,002 shares in the company, valued at approximately $913,282.62. The trade was a 52.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 22.40% of the company’s stock.

Axsome Therapeutics Company 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.