Parkman Healthcare Partners LLC Takes $2.45 Million Position in Axsome Therapeutics, Inc. $AXSM

Key Points

• Parkman Healthcare Partners acquired 10,000 Axsome Therapeutics shares worth approximately $2.45 million during the second quarter. Institutional investors and hedge funds collectively own 81.49% of the company.
• Wall Street sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $267.60. Several analysts recently raised their targets, including Mizuho to $316 and TD Cowen to $300.
• Axsome reported quarterly revenue of $218.38 million and an adjusted loss of $0.99 per share, missing analyst estimates. Meanwhile, insiders sold about 200,766 shares worth $46.7 million over the past 90 days.

Parkman Healthcare Partners LLC acquired a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,000 shares of the company's stock, valued at approximately $2,448,000.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Axsome Therapeutics by 14.9% during the 2nd quarter. GAMMA Investing LLC now owns 347 shares of the company's stock worth $85,000 after buying an additional 45 shares in the last quarter. Birchview Capital LP grew its holdings in shares of Axsome Therapeutics by 1.0% in the 4th quarter. Birchview Capital LP now owns 6,061 shares of the company's stock valued at $1,107,000 after acquiring an additional 61 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Axsome Therapeutics by 3.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,921 shares of the company's stock valued at $351,000 after acquiring an additional 65 shares in the last quarter. Xponance LLC increased its position in shares of Axsome Therapeutics by 2.4% in the fourth quarter. Xponance LLC now owns 3,265 shares of the company's stock valued at $596,000 after acquiring an additional 76 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of Axsome Therapeutics by 7.2% in the first quarter. Assetmark Inc. now owns 1,182 shares of the company's stock valued at $200,000 after acquiring an additional 79 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Piper Sandler reissued an "overweight" rating and set a $258.00 price target on shares of Axsome Therapeutics in a research report on Monday, May 4th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $272.00 price target on shares of Axsome Therapeutics in a research report on Monday, May 4th. Mizuho upped their price objective on Axsome Therapeutics from $306.00 to $316.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 12th. Truist Financial raised Axsome Therapeutics to a "strong-buy" rating in a report on Monday, June 15th. Finally, TD Cowen raised their target price on shares of Axsome Therapeutics from $275.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, June 17th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $267.60.

Axsome Therapeutics Stock Performance

AXSM opened at $205.40 on Tuesday. The company has a quick ratio of 1.34, a current ratio of 1.43 and a debt-to-equity ratio of 1.52. Axsome Therapeutics, Inc. has a 12-month low of $112.90 and a 12-month high of $260.19. The business has a 50 day moving average of $231.17 and a 200-day moving average of $206.29. The stock has a market cap of $10.76 billion, a price-to-earnings ratio of -54.77 and a beta of 0.65.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.99) earnings per share 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 business had revenue of $218.38 million during the quarter, compared to the consensus estimate of $221.11 million. On average, equities research analysts expect that Axsome Therapeutics, Inc. will post -2.78 earnings per share for the current year.

Insider Activity at Axsome Therapeutics

In related news, Director Mark Coleman sold 6,000 shares of Axsome Therapeutics stock in a transaction dated 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 owned 35,140 shares of the company's stock, valued at approximately $8,092,742. The trade was a 14.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Herriot Tabuteau sold 49,670 shares of the company's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $241.01, for a total transaction of $11,970,966.70. Following the completion of the transaction, the chief executive officer owned 7,229 shares in the company, valued at approximately $1,742,261.29. This trade represents a 87.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 200,766 shares of company stock valued at $46,685,646 in the last ninety 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.

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