Phocas Financial Corp. Has $224,000 Stock Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Phocas Financial Corp. cut its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 85.0% during the fourth quarter, HoldingsChannel reports. The fund owned 2,652 shares of the company’s stock after selling 15,049 shares during the quarter. Phocas Financial Corp.’s holdings in Axsome Therapeutics were worth $224,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AXSM. Iron Triangle Partners LP acquired a new position in shares of Axsome Therapeutics in the third quarter worth $22,671,000. Principal Financial Group Inc. increased its stake in shares of Axsome Therapeutics by 6,002.7% in the fourth quarter. Principal Financial Group Inc. now owns 207,065 shares of the company’s stock worth $17,520,000 after acquiring an additional 203,672 shares during the last quarter. FMR LLC increased its stake in shares of Axsome Therapeutics by 20.6% in the third quarter. FMR LLC now owns 1,088,087 shares of the company’s stock worth $97,786,000 after acquiring an additional 185,951 shares during the last quarter. abrdn plc increased its stake in shares of Axsome Therapeutics by 553.3% in the fourth quarter. abrdn plc now owns 72,179 shares of the company’s stock worth $6,107,000 after acquiring an additional 61,131 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Axsome Therapeutics by 47.5% in the third quarter. Franklin Resources Inc. now owns 160,534 shares of the company’s stock worth $13,713,000 after acquiring an additional 51,696 shares during the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

Axsome Therapeutics Stock Up 1.0 %

AXSM stock opened at $128.33 on Thursday. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04. Axsome Therapeutics, Inc. has a 52-week low of $64.11 and a 52-week high of $139.13. The company has a 50-day moving average of $102.78 and a two-hundred day moving average of $95.62. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of -21.42 and a beta of 1.05.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, beating the consensus estimate of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The business had revenue of $118.77 million during the quarter, compared to analysts’ expectations of $117.83 million. As a group, equities research analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Insider Activity at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the sale, the chief financial officer now owns 42,187 shares in the company, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AXSM shares. Needham & Company LLC upped their price target on shares of Axsome Therapeutics from $133.00 to $153.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Leerink Partners increased their target price on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft began coverage on shares of Axsome Therapeutics in a research report on Tuesday, February 11th. They set a “buy” rating and a $176.00 target price on the stock. Finally, HC Wainwright increased their target price on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Axsome Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $160.00.

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.