Pallas Capital Advisors LLC Acquires Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Pallas Capital Advisors LLC has recently acquired a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the fourth quarter of the year. This information was disclosed in the fund's latest Form 13F filing with the Securities and Exchange Commission (SEC). Pallas Capital Advisors purchased 26,435 shares of Axsome Therapeutics, amounting to an estimated value of around $2,237,000. After this purchase, Pallas Capital Advisors now owns approximately 0.05% of Axsome Therapeutics according to its recent SEC filings.

In addition to Pallas, several other institutional investors have recently adjusted their holdings in Axsome Therapeutics. For instance, Rhumbline Advisers increased its stake by 5.1% in the second quarter, now holding 54,931 shares valued at $4,422,000 after acquiring an additional 2,674 shares. The Arizona State Retirement System also raised its position by 2.1%, now owning 8,630 shares worth $695,000 following the purchase of 177 additional shares. WINTON GROUP Ltd made a significant increase of 156.6% in its stake, obtaining 8,823 shares valued at $710,000 after adding 5,385 shares in the last quarter. Furthermore, Sofinnova Investments Inc. took a new position in Axsome Therapeutics worth about $24,971,000, and XTX Topco Ltd boosted its stake by 177.9%, holding 11,205 shares valued at $902,000 after purchasing 7,173 more shares. Currently, institutional investors hold approximately 81.49% of Axsome Therapeutics’ stock.

Axsome Therapeutics Stock Performance

The shares of Axsome Therapeutics traded up by 11.5% recently, increasing by $9.22 to reach a price of $89.27. The trading volume for the day was 1,879,117 shares, notably higher than the average volume of 993,689 shares. The company's 50-day simple moving average is positioned at $92.17, while the 200-day simple moving average stands at $89.16. Axsome Therapeutics has a market capitalization of $4.33 billion, a debt-to-equity ratio of 1.97, and a price-to-earnings ratio of -13.67. Over the last year, the stock has experienced a low of $64.11 and a high of $105.00.

Quarterly Earnings Report

Axsome Therapeutics recently released its quarterly earnings data, showing a loss of ($1.34) earnings per share (EPS), which was slightly better than the consensus estimate of ($1.38) by $0.04. The company reported a revenue of $104.76 million for the quarter, surpassing analysts' expectations of $98.71 million. In the same quarter a year prior, Axsome generated a loss of ($1.32) EPS. Analysts predict that the company will achieve an EPS of -4.6 for the current fiscal year.

Analyst Ratings and Price Targets

Axsome Therapeutics has been the subject of various reports from analysts. Cantor Fitzgerald maintains an "overweight" rating, setting a price target of $121.00 on the stock. Truist Financial has increased its price target from $150.00 to $180.00, suggesting a "buy" rating for the stock. Similarly, Needham & Company LLC reaffirmed its "buy" rating with a price target of $133.00. Robert W. Baird also raised its target price from $112.00 to $116.00, declaring an "outperform" rating. HC Wainwright also reiterated a "buy" rating, indicating strong positive sentiment from analysts. Among the analysts, one rated Axsome Therapeutics with a hold rating while fourteen have issued buy ratings, resulting in an average rating of "Moderate Buy" and a mean price target of $129.43.

About Axsome Therapeutics

Axsome Therapeutics, Inc. is a biopharmaceutical company engaged in developing innovative therapies aimed at treating central nervous system (CNS) disorders in the United States. Its commercial product offerings include Auvelity (dextromethorphan-bupropion) and Sunosi (solriamfetol), which are targeted respectively for major depressive disorder and excessive daytime sleepiness linked to narcolepsy or obstructive sleep apnea.

Pallas, Shares, Axsome