Axsome Therapeutics (NASDAQ:AXSM) Director Sells $70,407.48 in Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) Director Roger Jeffs sold 286 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $246.18, for a total value of $70,407.48. Following the sale, the director owned 58,653 shares of the company’s stock, valued at approximately $14,439,195.54. This represents a 0.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Axsome Therapeutics Stock Up 3.0%

Axsome Therapeutics stock traded up $7.43 during mid-day trading on Thursday, reaching $253.77. 787,474 shares of the company were exchanged, compared to its average volume of 626,109. The business has a fifty day moving average of $209.27 and a 200 day moving average of $181.43. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.32 and a current ratio of 1.39. The firm has a market cap of $13.06 billion, a P/E ratio of -68.03 and a beta of 0.61. Axsome Therapeutics, Inc. has a 12-month low of $96.09 and a 12-month high of $257.44.

Axsome Therapeutics (NASDAQ:AXSM) last posted 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). Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The company had revenue of $191.20 million for the quarter, compared to analysts’ expectations of $191.10 million. The business’s quarterly revenue was up 57.4% compared to the same quarter last year. Research analysts anticipate that Axsome Therapeutics, Inc. will post -2.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Seven Fleet Capital Management LP increased its holdings in Axsome Therapeutics by 8.5% in the first quarter. Seven Fleet Capital Management LP now owns 14,055 shares of the company’s stock valued at $2,376,000 after buying an additional 1,100 shares in the last quarter. Perceptive Advisors LLC increased its holdings in Axsome Therapeutics by 0.7% in the 1st quarter. Perceptive Advisors LLC now owns 149,950 shares of the company’s stock worth $25,345,000 after acquiring an additional 1,050 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Axsome Therapeutics by 26.1% in the 1st quarter. Janus Henderson Group PLC now owns 19,052 shares of the company’s stock worth $3,219,000 after acquiring an additional 3,948 shares in the last quarter. Amundi purchased a new stake in Axsome Therapeutics in the 1st quarter worth $498,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Axsome Therapeutics by 48.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 512 shares of the company’s stock worth $87,000 after acquiring an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Wall Street Analyst Weigh In

AXSM has been the subject of several research analyst reports. Guggenheim increased their price objective on shares of Axsome Therapeutics from $245.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Wells Fargo & Company increased their price objective on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. HC Wainwright reaffirmed a “buy” rating on shares of Axsome Therapeutics in a research report on Thursday, June 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Monday, April 20th. Finally, UBS Group increased their price objective on shares of Axsome Therapeutics from $251.00 to $259.00 and gave the company a “buy” rating in a research report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $256.79.

About Axsome Therapeutics

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.