Castleark Management LLC Purchases Shares of 22,083 Axsome Therapeutics, Inc. $AXSM

Castleark Management LLC acquired a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 22,083 shares of the company’s stock, valued at approximately $5,405,000.

Other institutional investors have also recently modified their holdings of the company. Kemnay Advisory Services Inc. acquired a new stake in Axsome Therapeutics during the 4th quarter valued at $31,000. Ameriflex Group Inc. acquired a new position in shares of Axsome Therapeutics in the fourth quarter worth $37,000. Hollencrest Capital Management raised its holdings in shares of Axsome Therapeutics by 400.0% in the first quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock worth $34,000 after acquiring an additional 160 shares during the last quarter. Silvant Capital Management LLC purchased a new stake in shares of Axsome Therapeutics in the second quarter valued at $66,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Axsome Therapeutics by 602.6% in the fourth quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock valued at $50,000 after acquiring an additional 235 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AXSM shares. Truist Financial upgraded Axsome Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. Mizuho raised their price target on shares of Axsome Therapeutics from $306.00 to $316.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Jefferies Financial Group reiterated a “buy” rating and set a $380.00 price target on shares of Axsome Therapeutics in a report on Thursday, June 11th. Robert W. Baird boosted their price objective on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Finally, Wells Fargo & Company upped their price objective on shares of Axsome Therapeutics from $255.00 to $256.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $267.60.

Axsome Therapeutics Price Performance

AXSM opened at $205.48 on Wednesday. The company’s 50 day simple moving average is $230.24 and its 200 day simple moving average is $206.43. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.34 and a current ratio of 1.43. Axsome Therapeutics, Inc. has a 1 year low of $112.90 and a 1 year high of $260.19. The stock has a market capitalization of $10.76 billion, a PE ratio of -54.79 and a beta of 0.65.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. The company had revenue of $218.38 million during the quarter, compared to analysts’ expectations of $221.11 million. As a group, sell-side analysts expect that Axsome Therapeutics, Inc. will post -2.78 EPS for the current year.

Insider Activity at Axsome Therapeutics

In other news, Director Mark Coleman sold 6,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $230.30, for a total transaction of $1,381,800.00. Following the completion of the sale, the director directly owned 35,140 shares of the company’s stock, valued at $8,092,742. The trade was a 14.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Susan Mahony sold 300 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total value of $71,163.00. Following the sale, the director owned 1,129 shares of the company’s stock, valued at approximately $267,810.09. The trade was a 20.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 200,766 shares of company stock worth $46,685,646 in the last 90 days. Company insiders own 20.60% of the company’s stock.

Axsome Therapeutics 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.