Peregrine Capital Management LLC Acquires 13,747 Shares of Axsome Therapeutics, Inc. $AXSM

Peregrine Capital Management LLC increased its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 23.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,468 shares of the company’s stock after purchasing an additional 13,747 shares during the period. Peregrine Capital Management LLC owned approximately 0.15% of Axsome Therapeutics worth $7,669,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Mutual of America Capital Management LLC boosted its holdings in Axsome Therapeutics by 0.3% in the first quarter. Mutual of America Capital Management LLC now owns 39,623 shares of the company’s stock worth $4,621,000 after purchasing an additional 136 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Axsome Therapeutics in the first quarter worth $25,000. GF Fund Management CO. LTD. boosted its holdings in Axsome Therapeutics by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 1,241 shares of the company’s stock worth $145,000 after purchasing an additional 223 shares in the last quarter. Xponance Inc. boosted its holdings in Axsome Therapeutics by 8.7% in the first quarter. Xponance Inc. now owns 2,891 shares of the company’s stock worth $337,000 after purchasing an additional 232 shares in the last quarter. Finally, Tocqueville Asset Management L.P. boosted its holdings in Axsome Therapeutics by 5.1% in the first quarter. Tocqueville Asset Management L.P. now owns 5,200 shares of the company’s stock worth $606,000 after purchasing an additional 250 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AXSM shares. Royal Bank Of Canada upped their price objective on shares of Axsome Therapeutics from $184.00 to $189.00 and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Needham & Company LLC restated a “buy” rating and set a $150.00 price target on shares of Axsome Therapeutics in a report on Monday, August 4th. Morgan Stanley upped their price target on shares of Axsome Therapeutics from $191.00 to $194.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Axsome Therapeutics in a report on Wednesday, October 8th. Finally, Wells Fargo & Company upgraded shares of Axsome Therapeutics to a “strong-buy” rating in a report on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Axsome Therapeutics has a consensus rating of “Buy” and an average price target of $178.20.

Axsome Therapeutics Stock Up 4.0%

Shares of AXSM opened at $134.68 on Tuesday. The company has a 50-day simple moving average of $121.66 and a 200-day simple moving average of $111.60. The firm has a market capitalization of $6.72 billion, a P/E ratio of -26.56 and a beta of 0.52. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.51 and a current ratio of 1.57. Axsome Therapeutics, Inc. has a 52 week low of $75.56 and a 52 week high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, August 4th. The company reported ($0.92) EPS for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.08. The business had revenue of $150.04 million during the quarter, compared to analyst estimates of $140.02 million. Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. On average, equities research analysts expect that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Insider Activity

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 27,907 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $118.96, for a total transaction of $3,319,816.72. Following the completion of the transaction, the chief executive officer owned 7,229 shares in the company, valued at $859,961.84. This trade represents a 79.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Roger Jeffs sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $121.60, for a total transaction of $2,432,000.00. Following the transaction, the director owned 90,974 shares of the company’s stock, valued at approximately $11,062,438.40. This represents a 18.02% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 243,332 shares of company stock valued at $28,824,746. Insiders own 22.30% 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.