Insider Selling: Axsome Therapeutics (NASDAQ:AXSM) CFO Sells $7,922,970.00 in Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) CFO Nick Pizzie sold 33,000 shares of Axsome Therapeutics stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $240.09, for a total value of $7,922,970.00. Following the sale, the chief financial officer directly owned 42,867 shares of the company’s stock, valued at approximately $10,291,938.03. This trade represents a 43.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Axsome Therapeutics Trading Up 3.0%

Shares of AXSM stock opened at $253.77 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27. The business has a 50-day moving average price of $209.27 and a two-hundred day moving average price of $181.43. Axsome Therapeutics, Inc. has a 12-month low of $96.09 and a 12-month high of $257.44. 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 (NASDAQ:AXSM) last issued its quarterly earnings results on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $191.20 million for the quarter, compared to the consensus estimate of $191.10 million. The firm’s quarterly revenue was up 57.4% compared to the same quarter last year. Equities analysts anticipate that Axsome Therapeutics, Inc. will post -2.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Axsome Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AXSM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Axsome Therapeutics by 4.8% in 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 in the last quarter. Jones Financial Companies Lllp raised its holdings in Axsome Therapeutics by 2,407.9% in 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 in the last quarter. Goldman Sachs Group Inc. raised its holdings in Axsome Therapeutics by 38.7% in 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 in the last quarter. Caxton Associates LLP bought a new position in Axsome Therapeutics in the 1st quarter worth $307,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Axsome Therapeutics by 29.9% in 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 in the last quarter. 81.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AXSM. Mizuho upped their price objective on shares of Axsome Therapeutics from $228.00 to $310.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Piper Sandler reaffirmed an “overweight” rating and issued a $258.00 price objective on shares of Axsome Therapeutics in a research note on Monday, May 4th. Oppenheimer set a $280.00 price objective on shares of Axsome Therapeutics in a research note on Monday, May 4th. Wells Fargo & Company upped their price objective on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Finally, Robert W. Baird upped their price objective on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Axsome Therapeutics has an average rating of “Moderate Buy” and a consensus 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.