Iridian Asset Management LLC CT Sells 1,724 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Iridian Asset Management LLC CT cut its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 1.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 125,079 shares of the company’s stock after selling 1,724 shares during the period. Axsome Therapeutics comprises approximately 2.8% of Iridian Asset Management LLC CT’s portfolio, making the stock its 12th largest holding. Iridian Asset Management LLC CT’s holdings in Axsome Therapeutics were worth $10,583,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Strategic Financial Concepts LLC purchased a new stake in Axsome Therapeutics in the 4th quarter worth approximately $2,599,000. Lion Street Advisors LLC raised its holdings in shares of Axsome Therapeutics by 16.3% during the fourth quarter. Lion Street Advisors LLC now owns 9,599 shares of the company’s stock valued at $812,000 after acquiring an additional 1,344 shares in the last quarter. Calamos Advisors LLC purchased a new stake in Axsome Therapeutics in the fourth quarter worth $1,084,000. abrdn plc boosted its holdings in Axsome Therapeutics by 553.3% in the fourth quarter. abrdn plc now owns 72,179 shares of the company’s stock valued at $6,107,000 after acquiring an additional 61,131 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in Axsome Therapeutics by 11.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,276 shares of the company’s stock valued at $869,000 after acquiring an additional 1,044 shares in the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Axsome Therapeutics Stock Down 3.9 %

NASDAQ:AXSM opened at $109.50 on Friday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. Axsome Therapeutics, Inc. has a fifty-two week low of $64.11 and a fifty-two week high of $114.06. The firm has a 50-day simple moving average of $94.37 and a two-hundred day simple moving average of $91.43.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating the consensus estimate of ($1.38) by $0.04. The company had revenue of $104.76 million during the quarter, compared to the consensus estimate of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same quarter last year, the firm earned ($1.32) earnings per share. On average, analysts forecast that Axsome Therapeutics, Inc. will post -4.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AXSM has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $133.00 target price on shares of Axsome Therapeutics in a research report on Monday, January 13th. Mizuho upped their target price on Axsome Therapeutics from $122.00 to $137.00 and gave the stock an “outperform” rating in a report on Monday. Royal Bank of Canada restated an “outperform” rating and issued a $139.00 target price on shares of Axsome Therapeutics in a research note on Wednesday, January 29th. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Robert W. Baird raised their price objective on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $134.00.

About Axsome Therapeutics

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.