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

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

Several other institutional investors and hedge funds have also modified their holdings of AXSM. Kemnay Advisory Services Inc. bought a new position in Axsome Therapeutics during the fourth quarter worth about $31,000. Hollencrest Capital Management boosted its holdings in Axsome Therapeutics by 400.0% in the 1st quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock valued at $34,000 after purchasing an additional 160 shares during the period. Ameriflex Group Inc. acquired a new position in shares of Axsome Therapeutics during the 4th quarter worth approximately $37,000. Silvant Capital Management LLC acquired a new position in shares of Axsome Therapeutics during the 2nd quarter worth approximately $66,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Axsome Therapeutics by 602.6% during the fourth quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock worth $50,000 after purchasing an additional 235 shares during the period. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Axsome Therapeutics

In related 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 value of $1,381,800.00. Following the sale, the director owned 35,140 shares of the company’s stock, valued at $8,092,742. The trade was a 14.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Nick Pizzie sold 33,000 shares of Axsome Therapeutics stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $240.09, for a total value of $7,922,970.00. Following the transaction, the chief financial officer directly owned 42,867 shares in the company, valued at $10,291,938.03. The trade was a 43.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 200,766 shares of company stock worth $46,685,646 in the last three months. 20.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AXSM shares. UBS Group reiterated a “buy” rating on shares of Axsome Therapeutics in a research note on Monday. Cantor Fitzgerald reiterated an “overweight” rating and set a $272.00 target price on shares of Axsome Therapeutics in a research report on Monday, May 4th. HC Wainwright restated a “buy” rating on shares of Axsome Therapeutics in a research report on Monday. Piper Sandler reaffirmed an “overweight” rating and issued a $258.00 price target on shares of Axsome Therapeutics in a research note on Monday, May 4th. Finally, Oppenheimer set a $280.00 price objective on shares of Axsome Therapeutics in a research note on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Axsome Therapeutics has an average rating of “Moderate Buy” and an average target price of $267.60.

Axsome Therapeutics Price Performance

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

Axsome Therapeutics (NASDAQ:AXSM) last issued 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). The firm had revenue of $218.38 million during the quarter, compared to analyst estimates of $221.11 million. Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%. Research analysts predict that Axsome Therapeutics, Inc. will post -2.78 earnings per share for the current fiscal year.

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.