Pallas Capital Advisors LLC Takes $2.24 Million Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Pallas Capital Advisors LLC acquired a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 26,435 shares of the company’s stock, valued at approximately $2,237,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Axsome Therapeutics in the 2nd quarter valued at approximately $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Axsome Therapeutics in the second quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Axsome Therapeutics by 22.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock worth $156,000 after buying an additional 318 shares during the last quarter. Moors & Cabot Inc. acquired a new stake in shares of Axsome Therapeutics during the third quarter worth $200,000. Finally, Whalen Wealth Management Inc. purchased a new stake in shares of Axsome Therapeutics during the third quarter valued at $236,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $133.00 price target on shares of Axsome Therapeutics in a research report on Monday. Mizuho dropped their target price on Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 31st. Royal Bank of Canada increased their price target on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. HC Wainwright restated a “buy” rating on shares of Axsome Therapeutics in a research note on Tuesday, December 31st. Finally, Truist Financial increased their price objective on shares of Axsome Therapeutics from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $129.43.

Axsome Therapeutics Price Performance

Shares of AXSM stock traded up $9.22 during mid-day trading on Monday, hitting $89.27. 1,879,117 shares of the stock were exchanged, compared to its average volume of 993,689. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. Axsome Therapeutics, Inc. has a 52-week low of $64.11 and a 52-week high of $105.00. The firm has a fifty day moving average of $92.17 and a 200 day moving average of $89.16. The company has a market cap of $4.33 billion, a PE ratio of -13.67 and a beta of 1.04.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, beating the consensus estimate of ($1.38) by $0.04. The company had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. During the same period last year, the company earned ($1.32) earnings per share. Research analysts anticipate that Axsome Therapeutics, Inc. will post -4.6 earnings per share for the current year.

Axsome Therapeutics 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.