PNC Financial Services Group Inc. Boosts Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

PNC Financial Services Group Inc. grew its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 6.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,669 shares of the company’s stock after purchasing an additional 330 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Axsome Therapeutics were worth $661,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AXSM. Assenagon Asset Management S.A. boosted its stake in shares of Axsome Therapeutics by 16,852.7% in the first quarter. Assenagon Asset Management S.A. now owns 627,418 shares of the company’s stock valued at $73,176,000 after purchasing an additional 623,717 shares during the period. Boxer Capital Management LLC purchased a new position in shares of Axsome Therapeutics in the fourth quarter valued at approximately $39,767,000. Lazard Asset Management LLC lifted its stake in Axsome Therapeutics by 525.7% in the fourth quarter. Lazard Asset Management LLC now owns 537,669 shares of the company’s stock worth $45,492,000 after acquiring an additional 451,737 shares during the last quarter. BVF Inc. IL lifted its stake in Axsome Therapeutics by 32.7% in the fourth quarter. BVF Inc. IL now owns 1,388,064 shares of the company’s stock worth $117,444,000 after acquiring an additional 342,064 shares during the last quarter. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. lifted its stake in Axsome Therapeutics by 746.7% in the first quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 285,494 shares of the company’s stock worth $33,297,000 after acquiring an additional 251,775 shares during the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Analyst Upgrades and Downgrades

AXSM has been the subject of a number of recent research reports. HC Wainwright reiterated a “buy” rating and issued a $180.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, June 10th. Robert W. Baird lifted their price target on shares of Axsome Therapeutics from $160.00 to $162.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 6th. Cantor Fitzgerald upgraded shares of Axsome Therapeutics to a “strong-buy” rating in a research note on Wednesday, May 14th. Royal Bank Of Canada lifted their price target on shares of Axsome Therapeutics from $184.00 to $189.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Finally, Bank of America lifted their price target on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Axsome Therapeutics has a consensus rating of “Buy” and a consensus target price of $178.00.

Insider Activity

In other news, COO Mark L. Jacobson sold 25,000 shares of Axsome Therapeutics stock in a transaction on Monday, June 9th. The shares were sold at an average price of $110.44, for a total value of $2,761,000.00. Following the transaction, the chief operating officer directly owned 5,783 shares of the company’s stock, valued at $638,674.52. The trade was a 81.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark Coleman sold 3,750 shares of Axsome Therapeutics stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $105.47, for a total transaction of $395,512.50. Following the completion of the transaction, the director directly owned 50,387 shares in the company, valued at $5,314,316.89. The trade was a 6.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 93,437 shares of company stock valued at $9,834,215 in the last ninety days. 22.40% of the stock is currently owned by company insiders.

Axsome Therapeutics Stock Up 1.2%

Shares of NASDAQ:AXSM opened at $105.23 on Wednesday. The company has a market capitalization of $5.25 billion, a PE ratio of -20.76 and a beta of 0.51. The company has a current ratio of 1.57, a quick ratio of 1.51 and a debt-to-equity ratio of 1.66. Axsome Therapeutics, Inc. has a twelve month low of $75.56 and a twelve month high of $139.13. The firm has a 50 day simple moving average of $105.69 and a 200-day simple moving average of $110.87.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Monday, August 4th. The company reported ($0.92) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.08. The business had revenue of $150.04 million during the quarter, compared to the consensus estimate of $140.02 million. Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. On average, equities analysts predict that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Axsome Therapeutics 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.