Insider Selling: Axsome Therapeutics (NASDAQ:AXSM) Director Sells $160,107.00 in Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) Director Mark Coleman sold 643 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $249.00, for a total transaction of $160,107.00. Following the sale, the director owned 30,389 shares of the company’s stock, valued at approximately $7,566,861. The trade was a 2.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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.
• On Friday, May 29th, Mark Coleman sold 6,000 shares of Axsome Therapeutics stock. The stock was sold at an average price of $233.46, for a total value of $1,400,760.00.

Axsome Therapeutics Stock Up 0.6%

Shares of NASDAQ:AXSM opened at $255.17 on Friday. The business has a 50-day moving average price of $210.94 and a 200 day moving average price of $181.95. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 2.27. The company has a market capitalization of $13.13 billion, a price-to-earnings ratio of -68.41 and a beta of 0.61. Axsome Therapeutics, Inc. has a 12-month low of $96.09 and a 12-month high of $257.92.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). The business 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%.Axsome Therapeutics’s revenue for the quarter was up 57.4% on a year-over-year basis. Sell-side analysts expect that Axsome Therapeutics, Inc. will post -2.27 EPS for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of AXSM. Wellington Management Group LLP boosted its holdings in Axsome Therapeutics by 84.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock valued at $162,082,000 after acquiring an additional 609,516 shares during the period. First Trust Advisors LP boosted its holdings in Axsome Therapeutics by 1,230.2% during the 1st quarter. First Trust Advisors LP now owns 577,479 shares of the company’s stock valued at $97,606,000 after acquiring an additional 534,066 shares during the period. Norges Bank purchased a new position in Axsome Therapeutics during the 4th quarter valued at about $90,490,000. Price T Rowe Associates Inc. MD boosted its holdings in Axsome Therapeutics by 45.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock valued at $275,763,000 after acquiring an additional 472,422 shares during the period. Finally, Invesco Ltd. boosted its holdings in Axsome Therapeutics by 73.3% during the 3rd quarter. Invesco Ltd. now owns 990,557 shares of the company’s stock valued at $120,303,000 after acquiring an additional 419,008 shares during the period. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Monday, April 20th. 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 report on Tuesday, May 5th. Wells Fargo & Company raised their price objective on Axsome Therapeutics from $225.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Guggenheim raised their price objective on Axsome Therapeutics from $245.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $272.00 price objective on shares of Axsome Therapeutics in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Axsome Therapeutics has an average rating of “Moderate Buy” and an average target price of $256.79.

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.