Iron Triangle Partners LP Purchases Shares of 252,266 Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Iron Triangle Partners LP acquired a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 252,266 shares of the company’s stock, valued at approximately $22,671,000. Axsome Therapeutics accounts for about 3.1% of Iron Triangle Partners LP’s holdings, making the stock its 16th biggest position. Iron Triangle Partners LP owned about 0.52% of Axsome Therapeutics at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Axsome Therapeutics in the 2nd quarter worth approximately $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Axsome Therapeutics during the second quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Axsome Therapeutics by 22.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after purchasing an additional 318 shares during the period. Moors & Cabot Inc. purchased a new position in Axsome Therapeutics in the 3rd quarter worth about $200,000. Finally, Whalen Wealth Management Inc. acquired a new stake in Axsome Therapeutics during the 3rd quarter worth about $236,000. 81.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 10,002 shares in the company, valued at $913,282.62. This represents a 52.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 22.40% of the stock is owned by corporate insiders.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $99.08 on Tuesday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. The firm has a fifty day moving average of $91.68 and a 200-day moving average of $86.11. Axsome Therapeutics, Inc. has a 52-week low of $64.11 and a 52-week high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.04. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The business had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. During the same period in the prior year, the firm posted ($1.32) EPS. On average, equities research analysts forecast that Axsome Therapeutics, Inc. will post -4.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird boosted 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. Wells Fargo & Company began coverage on Axsome Therapeutics in a report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, November 12th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $107.00 target price on shares of Axsome Therapeutics in a research report on Monday, September 16th. Finally, StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $124.93.

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.