Axsome Therapeutics (NASDAQ:AXSM) Director Sells $71,163.00 in 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 shares were sold at an average price of $237.21, for a total value of $71,163.00. Following the sale, the director owned 1,129 shares of the company’s stock, valued at approximately $267,810.09. The trade was a 20.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Axsome Therapeutics Price Performance

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. Axsome Therapeutics, Inc. has a twelve month low of $96.09 and a twelve month high of $257.92. The company has a market cap of $13.13 billion, a price-to-earnings ratio of -68.41 and a beta of 0.61. 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 announced its earnings results on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.41). Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The business had revenue of $191.20 million for the quarter, compared to the consensus estimate of $191.10 million. The business’s revenue for the quarter was up 57.4% on a year-over-year basis. Research analysts predict that Axsome Therapeutics, Inc. will post -2.27 earnings per share for the current year.

Institutional Trading of Axsome Therapeutics

A number of hedge funds have recently modified their holdings of the company. Seven Fleet Capital Management LP lifted its position in shares of Axsome Therapeutics by 8.5% in the 1st quarter. Seven Fleet Capital Management LP now owns 14,055 shares of the company’s stock worth $2,376,000 after acquiring an additional 1,100 shares during the period. Perceptive Advisors LLC raised its holdings in shares of 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 buying an additional 1,050 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of 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 buying an additional 3,948 shares in the last quarter. Amundi acquired a new position in shares of Axsome Therapeutics in the 1st quarter worth approximately $498,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of 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 buying an additional 166 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AXSM. 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. Morgan Stanley upgraded Axsome Therapeutics from a “reduce” rating to an “overweight” rating in a research report on Thursday. 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. Oppenheimer set a $280.00 price objective on Axsome Therapeutics in a research report on Monday, May 4th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus 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.