Insider Selling: Axsome Therapeutics (NASDAQ:AXSM) Director Sells 300 Shares of Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) Director Susan Mahony sold 300 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total value of $71,163.00. Following the transaction, the director owned 1,129 shares in the company, valued at approximately $267,810.09. This trade represents a 20.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Axsome Therapeutics Stock Performance

Shares of NASDAQ AXSM traded up $0.70 during trading hours on Wednesday, reaching $246.34. 741,228 shares of the stock were exchanged, compared to its average volume of 629,825. The firm has a market capitalization of $12.68 billion, a price-to-earnings ratio of -66.04 and a beta of 0.61. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.32 and a current ratio of 1.39. Axsome Therapeutics, Inc. has a 52 week low of $96.09 and a 52 week high of $256.00. The stock’s fifty day simple moving average is $207.58 and its 200 day simple moving average is $180.70.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). The firm had revenue of $191.20 million for the quarter, compared to the consensus estimate of $191.10 million. Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The company’s quarterly revenue was up 57.4% compared to the same quarter last year. Sell-side analysts predict that Axsome Therapeutics, Inc. will post -2.24 EPS for the current year.

Institutional Investors Weigh In On Axsome Therapeutics

Large investors have recently modified their holdings of the business. Birchview Capital LP raised its position 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 worth $1,107,000 after acquiring an additional 61 shares in the last quarter. PNC Financial Services Group Inc. increased its position in 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 buying an additional 65 shares in the last quarter. Xponance LLC increased its position in Axsome Therapeutics by 2.4% in the 4th quarter. Xponance LLC now owns 3,265 shares of the company’s stock valued at $596,000 after buying an additional 76 shares in the last quarter. Assetmark Inc. increased its position in Axsome Therapeutics by 7.2% in the 1st quarter. Assetmark Inc. now owns 1,182 shares of the company’s stock valued at $200,000 after buying an additional 79 shares in the last quarter. Finally, Allworth Financial LP increased its position in Axsome Therapeutics by 6.6% in the 3rd quarter. Allworth Financial LP now owns 1,442 shares of the company’s stock valued at $175,000 after buying an additional 89 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AXSM shares. Guggenheim increased their target price on Axsome Therapeutics from $245.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. UBS Group raised their price objective on Axsome Therapeutics from $251.00 to $259.00 and gave the stock a “buy” rating in a research note on Friday, April 10th. Truist Financial upgraded Axsome Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. HC Wainwright restated a “buy” rating on shares of Axsome Therapeutics in a research note on Thursday, June 4th. Finally, Needham & Company LLC raised their price objective on Axsome Therapeutics from $225.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Axsome Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $251.26.

Axsome Therapeutics Company 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.