Mark Coleman Sells 6,000 Shares of Axsome Therapeutics (NASDAQ:AXSM) Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) Director Mark Coleman sold 6,000 shares of Axsome Therapeutics stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $233.46, for a total value of $1,400,760.00. Following the transaction, the director directly owned 41,140 shares in the company, valued at approximately $9,604,544.40. This trade represents a 12.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Mark Coleman also recently made the following trade(s):

• On Tuesday, June 2nd, Mark Coleman sold 5,537 shares of Axsome Therapeutics stock. The stock was sold at an average price of $223.39, for a total value of $1,236,910.43.
• On Monday, June 1st, Mark Coleman sold 6,000 shares of Axsome Therapeutics stock. The stock was sold at an average price of $230.30, for a total value of $1,381,800.00.

Axsome Therapeutics Stock Performance

AXSM traded down $8.09 during trading on Tuesday, hitting $222.16. 603,813 shares of the stock were exchanged, compared to its average volume of 694,341. The firm has a market capitalization of $11.43 billion, a P/E ratio of -59.56 and a beta of 0.59. Axsome Therapeutics, Inc. has a 1-year low of $96.09 and a 1-year high of $238.56. The stock has a fifty day moving average price of $196.96 and a two-hundred day moving average price of $176.15. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Monday, May 4th. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.41). The firm had revenue of $191.20 million for the quarter, compared to analyst estimates of $191.10 million. Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The firm’s revenue for the quarter was up 57.4% compared to the same quarter last year. As a group, sell-side analysts predict that Axsome Therapeutics, Inc. will post -2.14 earnings per share for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in AXSM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Axsome Therapeutics by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,923 shares of the company’s stock worth $2,557,000 after purchasing an additional 1,002 shares during the period. Jones Financial Companies Lllp increased its position in Axsome Therapeutics by 2,407.9% during the 1st quarter. Jones Financial Companies Lllp now owns 7,624 shares of the company’s stock worth $889,000 after purchasing an additional 7,320 shares during the period. Goldman Sachs Group Inc. increased its position in Axsome Therapeutics by 38.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 301,718 shares of the company’s stock worth $35,189,000 after purchasing an additional 84,151 shares during the period. Caxton Associates LLP acquired a new position in Axsome Therapeutics during the 1st quarter worth approximately $307,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Axsome Therapeutics by 29.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,892 shares of the company’s stock worth $8,735,000 after purchasing an additional 17,250 shares during the period. Institutional investors and hedge funds own 81.49% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on AXSM shares. Piper Sandler reaffirmed an “overweight” rating and set a $258.00 price objective on shares of Axsome Therapeutics in a research note on Monday, May 4th. Morgan Stanley boosted their target price on Axsome Therapeutics from $217.00 to $242.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. Cantor Fitzgerald restated an “overweight” rating and set a $272.00 price target on shares of Axsome Therapeutics in a research note on Monday, May 4th. Wells Fargo & Company upped their price target on Axsome Therapeutics from $225.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Finally, Robert W. Baird upped their price target on Axsome Therapeutics from $241.00 to $246.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.