Birch Financial Group LLC Acquires 2,263 Shares of Axsome Therapeutics, Inc. $AXSM

Birch Financial Group LLC boosted its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 206.3% during the first quarter, Holdings Channel.com reports. The firm owned 3,360 shares of the company’s stock after acquiring an additional 2,263 shares during the quarter. Birch Financial Group LLC’s holdings in Axsome Therapeutics were worth $568,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Values First Advisors Inc. increased its position in shares of Axsome Therapeutics by 4.2% during the first quarter. Values First Advisors Inc. now owns 4,587 shares of the company’s stock valued at $775,000 after acquiring an additional 185 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Axsome Therapeutics by 29.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 7,453 shares of the company’s stock valued at $1,361,000 after purchasing an additional 1,716 shares during the last quarter. SHP Wealth Management bought a new position in Axsome Therapeutics in the fourth quarter worth approximately $172,000. Caitong International Asset Management Co. Ltd bought a new position in Axsome Therapeutics in the 4th quarter worth $76,000. Finally, Seven Fleet Capital Management LP bought a new position in shares of Axsome Therapeutics in the fourth quarter worth about $2,366,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM opened at $247.85 on Tuesday. Axsome Therapeutics, Inc. has a fifty-two week low of $96.09 and a fifty-two week high of $260.19. The company has a market cap of $12.75 billion, a PE ratio of -66.45 and a beta of 0.61. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.32 and a current ratio of 1.39. The business has a 50-day simple moving average of $220.52 and a two-hundred day simple moving average of $186.47.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.41). The company had revenue of $191.20 million for the quarter, compared to analyst estimates of $191.10 million. Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The business’s quarterly revenue was up 57.4% compared to the same quarter last year. As a group, equities analysts expect that Axsome Therapeutics, Inc. will post -2.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AXSM. Guggenheim lifted their target price on shares of Axsome Therapeutics from $245.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Wells Fargo & Company raised their target price on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Truist Financial raised Axsome Therapeutics to a “strong-buy” rating in a research note on Monday, June 15th. Robert W. Baird increased their target price on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Finally, Royal Bank Of Canada raised their price target on Axsome Therapeutics from $242.00 to $302.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Axsome Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $258.95.

Insider Buying and Selling at Axsome Therapeutics

In other news, COO Mark L. Jacobson sold 4,517 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $227.94, for a total transaction of $1,029,604.98. Following the sale, the chief operating officer directly owned 4,517 shares of the company’s stock, valued at $1,029,604.98. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Nick Pizzie sold 33,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $240.09, for a total value of $7,922,970.00. Following the completion of the transaction, the chief financial officer directly owned 42,867 shares in the company, valued at approximately $10,291,938.03. The trade was a 43.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 113,686 shares of company stock worth $26,666,006 in the last three months. 20.60% of the stock is owned by company insiders.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.