On September 1, 2023, it was announced that Pearl River Capital LLC has increased its stake in Axsome Therapeutics, Inc. by 25.6% during the first quarter of the year. According to the company’s most recent disclosure with the Securities and Exchange Commission, Pearl River Capital LLC now owns 9,622 shares of Axsome Therapeutics’ stock after purchasing an additional 1,960 shares during this period. As of its most recent SEC filing, Pearl River Capital LLC’s holdings in Axsome Therapeutics are valued at $593,000.
Axsome Therapeutics (NASDAQ:AXSM) recently released its quarterly earnings results on August 7th. The company reported an EPS (earnings per share) of ($1.00) for the quarter, surpassing the consensus estimate of ($1.24) by $0.24. Additionally, Axsome Therapeutics generated revenue of $46.70 million for the quarter, exceeding analysts’ expectations of $40.19 million. However, it is important to note that Axsome Therapeutics had a negative net margin of 101.07% and a negative return on equity of 92.39%. Analysts project that Axsome Therapeutics, Inc. will post -4.04 EPS for the current fiscal year.
Axsome Therapeutics is a biopharmaceutical company primarily focused on developing innovative therapies for central nervous system (CNS) disorders within the United States market. The company’s commercial product portfolio includes Auvelity (dextromethorphan-bupropion), which serves as a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder. Additionally, Axsome Therapeutics offers Sunosi (solriamfetol), a medication specifically designed to address excessive daytime sleepiness in patients diagnosed with narcolepsy or obstructive sleep apnea.
For investors and stakeholders, Pearl River Capital LLC’s increased stake in Axsome Therapeutics demonstrates their confidence in the company’s potential for growth and success within the biopharmaceutical industry. Furthermore, Axsome Therapeutics’ recent quarterly earnings results indicate positive performance, with higher than expected revenue and an EPS that exceeded consensus estimates. As the company continues to develop novel therapies for CNS disorders, it remains a significant player in the pharmaceutical landscape.
Axsome Therapeutics, Inc.
AXSM
Neutral
Updated on: 05/12/2023
Weak 
Debt to equity ratio: Strong Buy 
Institutional Investors Modify Holdings in Axsome Therapeutics as Positive Outlook Continues
Axsome Therapeutics, Inc. (AXSM) has seen several institutional investors modify their holdings in the company recently, according to reports from September 1, 2023. Blair William & Co. IL increased its stake in Axsome Therapeutics by 44.7% during the first quarter and now owns 13,525 shares of the company’s stock worth $834,000. Nicholas Investment Partners LP also raised its stake in shares of Axsome Therapeutics by 70.0%, now owning 340,430 shares worth $20,998,000. Profund Advisors LLC raised its stake by 238.5%, owning 10,525 shares worth $649,000. Rhenman & Partners Asset Management AB purchased a new position in Axsome Therapeutics during the first quarter worth approximately $908,000. FMR LLC raised its stake by 85.9% during the same timeframe and now owns 1,364,954 shares worth $84,190,000.
Shares of AXSM were trading at $81.31 on Friday with a trading volume of 75,909 shares. The stock’s trading range over the past year has been between $38.87 and $91.29.The company currently has a market capitalization of $3.84 billion and a price-to-earnings ratio of -18.88 with a beta of 1.88.
Several research firms have provided their insights on AXSM as well.Reiterating their rating on AXSM was VNET Group in a June report.Morgan Stanley also raised their target price on AXSM from $83 to $87 per share in May.Another positive outlook was given by Mizuho who restated a “buy” rating and set a target price of $100.In contrast, Bank of America previously gave an “underperform” rating but later upgraded it to “neutral” along with an increase in target price from $59 to $81. William Blair restated an “outperform” rating on AXSM in August. Bloomberg.com data indicates that the majority consensus on AXSM is a “Moderate Buy” with a consensus price target of $103.25.
In conclusion, Axsome Therapeutics has recently attracted the attention of institutional investors who have modified their holdings in the company. With trading volumes remaining steady, and research firms providing positive outlooks, it appears that AXSM is drawing interest and potential growth prospects in the market. Investors and analysts continue to closely monitor the stock for further developments.
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