Comerica Bank Cuts Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Comerica Bank trimmed its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 32.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,374 shares of the company’s stock after selling 3,570 shares during the period. Comerica Bank’s holdings in Axsome Therapeutics were worth $624,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AXSM. Geode Capital Management LLC boosted its stake in shares of Axsome Therapeutics by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 912,538 shares of the company’s stock worth $77,228,000 after buying an additional 4,079 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Axsome Therapeutics by 10.8% in the 4th quarter. Invesco Ltd. now owns 692,464 shares of the company’s stock worth $58,589,000 after buying an additional 67,285 shares during the last quarter. Hood River Capital Management LLC boosted its stake in shares of Axsome Therapeutics by 3.2% in the 4th quarter. Hood River Capital Management LLC now owns 644,785 shares of the company’s stock worth $54,555,000 after buying an additional 19,701 shares during the last quarter. Norges Bank purchased a new position in shares of Axsome Therapeutics in the 4th quarter worth $34,100,000. Finally, Northern Trust Corp boosted its stake in shares of Axsome Therapeutics by 21.0% in the 4th quarter. Northern Trust Corp now owns 402,500 shares of the company’s stock worth $34,056,000 after buying an additional 69,918 shares during the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the sale, the chief financial officer now directly owns 42,187 shares of the company’s stock, valued at $5,529,450.09. This trade represents a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 22.30% of the company’s stock.

Axsome Therapeutics Price Performance

NASDAQ:AXSM opened at $103.67 on Thursday. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. The business’s 50-day simple moving average is $110.96 and its two-hundred day simple moving average is $104.84. The stock has a market cap of $5.10 billion, a PE ratio of -17.31 and a beta of 0.46. Axsome Therapeutics, Inc. has a 52 week low of $64.11 and a 52 week high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. The business had revenue of $118.77 million for the quarter, compared to analysts’ expectations of $117.83 million. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. As a group, analysts forecast that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AXSM. Royal Bank of Canada raised their price target on Axsome Therapeutics from $190.00 to $193.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. Truist Financial raised their price target on Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Wells Fargo & Company restated an “overweight” rating and issued a $165.00 price target (up from $160.00) on shares of Axsome Therapeutics in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft started coverage on Axsome Therapeutics in a research report on Tuesday, February 11th. They set a “buy” rating and a $176.00 target price on the stock. Finally, William Blair reiterated an “outperform” rating on shares of Axsome Therapeutics in a research report on Tuesday, February 18th. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Axsome Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $172.14.

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.