Teacher Retirement System of Texas Grows Stock Position in Axsome Therapeutics, Inc. $AXSM

Teacher Retirement System of Texas increased its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 8.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 9,183 shares of the company’s stock after purchasing an additional 708 shares during the quarter. Teacher Retirement System of Texas’ holdings in Axsome Therapeutics were worth $959,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AXSM. Y Intercept Hong Kong Ltd lifted its stake in shares of Axsome Therapeutics by 140.4% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 30,640 shares of the company’s stock valued at $3,199,000 after purchasing an additional 17,895 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Axsome Therapeutics by 12.4% in the second quarter. Envestnet Asset Management Inc. now owns 28,137 shares of the company’s stock valued at $2,937,000 after buying an additional 3,094 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake in Axsome Therapeutics by 22.0% during the second quarter. State of New Jersey Common Pension Fund D now owns 18,049 shares of the company’s stock worth $1,884,000 after buying an additional 3,250 shares during the period. AlphaQuest LLC increased its position in shares of Axsome Therapeutics by 390.2% during the second quarter. AlphaQuest LLC now owns 1,608 shares of the company’s stock valued at $168,000 after acquiring an additional 1,280 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Axsome Therapeutics during the second quarter valued at about $219,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $139.41 on Friday. Axsome Therapeutics, Inc. has a 1 year low of $75.56 and a 1 year high of $141.36. The stock has a market capitalization of $6.96 billion, a PE ratio of -27.50 and a beta of 0.50. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.51 and a current ratio of 1.57. The stock has a 50-day simple moving average of $124.37 and a 200-day simple moving average of $113.37.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, November 3rd. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.12). Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%.The firm had revenue of $170.99 million for the quarter, compared to analysts’ expectations of $162.96 million. The business’s revenue for the quarter was up 63.2% compared to the same quarter last year. On average, analysts predict that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Mark L. Jacobson sold 10,000 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $115.96, for a total value of $1,159,600.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Herriot Tabuteau sold 21,775 shares of Axsome Therapeutics stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $134.49, for a total value of $2,928,519.75. Following the sale, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at $972,228.21. This trade represents a 75.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 407,271 shares of company stock worth $50,640,415 over the last 90 days. Company insiders own 22.30% of the company’s stock.

Analysts Set New Price Targets

AXSM has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $154.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday. Bank of America upped their price target on Axsome Therapeutics from $173.00 to $176.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Wells Fargo & Company lowered their price target on Axsome Therapeutics from $163.00 to $157.00 and set an “overweight” rating for the company in a research report on Tuesday. Guggenheim lifted their price objective on Axsome Therapeutics from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Mizuho increased their target price on Axsome Therapeutics from $200.00 to $202.00 and gave the stock an “outperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $179.88.

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.