Zurcher Kantonalbank Zurich Cantonalbank Has $646,000 Stock Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 21.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,537 shares of the company’s stock after selling 1,479 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Axsome Therapeutics were worth $646,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Mutual of America Capital Management LLC raised its stake in Axsome Therapeutics by 0.3% during the 1st quarter. Mutual of America Capital Management LLC now owns 39,623 shares of the company’s stock worth $4,621,000 after buying an additional 136 shares during the period. Summit Investment Advisors Inc. increased its holdings in Axsome Therapeutics by 4.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,852 shares of the company’s stock worth $326,000 after purchasing an additional 162 shares in the last quarter. GF Fund Management CO. LTD. increased its holdings in Axsome Therapeutics by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 1,241 shares of the company’s stock worth $145,000 after purchasing an additional 223 shares in the last quarter. Xponance Inc. increased its holdings in Axsome Therapeutics by 8.7% during the 1st quarter. Xponance Inc. now owns 2,891 shares of the company’s stock worth $337,000 after purchasing an additional 232 shares in the last quarter. Finally, NBC Securities Inc. bought a new stake in Axsome Therapeutics during the 1st quarter worth approximately $31,000. 81.49% of the stock is owned by institutional investors and hedge funds.

Axsome Therapeutics Trading Down 0.3%

NASDAQ:AXSM opened at $103.26 on Thursday. The company has a market cap of $5.08 billion, a P/E ratio of -20.37 and a beta of 0.51. The stock’s fifty day moving average price is $105.87 and its two-hundred day moving average price is $110.65. Axsome Therapeutics, Inc. has a 1 year low of $75.56 and a 1 year high of $139.13. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.57 and a quick ratio of 1.96.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Monday, August 4th. The company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.08. The firm had revenue of $150.04 million for the quarter, compared to the consensus estimate of $140.02 million. Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%. As a group, analysts expect that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Insiders Place Their Bets

In other Axsome Therapeutics news, General Counsel Hunter R. Murdock sold 6,014 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $100.12, for a total transaction of $602,121.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mark Coleman sold 3,750 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $105.47, for a total value of $395,512.50. Following the sale, the director owned 50,387 shares in the company, valued at approximately $5,314,316.89. This represents a 6.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,437 shares of company stock worth $9,834,215 over the last 90 days. Corporate insiders own 22.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AXSM. Robert W. Baird boosted their price objective on Axsome Therapeutics from $160.00 to $162.00 and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Bank of America upped their target price on Axsome Therapeutics from $173.00 to $176.00 and gave the company a “buy” rating in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 target price on shares of Axsome Therapeutics in a report on Monday. Oppenheimer assumed coverage on Axsome Therapeutics in a report on Tuesday, June 3rd. They issued an “outperform” rating and a $185.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $180.00 target price on shares of Axsome Therapeutics in a report on Tuesday, June 10th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Axsome Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $178.00.

Axsome Therapeutics Company Profile

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.