Axsome Therapeutics (NASDAQ:AXSM) Director Mark Coleman Sells 643 Shares of Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) Director Mark Coleman sold 643 shares of the business’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 completion of the transaction, the director directly owned 30,389 shares of the company’s stock, valued at approximately $7,566,861. This represents a 2.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 transaction 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 transaction 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 transaction of $1,400,760.00.

Axsome Therapeutics Trading Up 0.3%

Shares of NASDAQ AXSM opened at $246.34 on Thursday. Axsome Therapeutics, Inc. has a 1-year low of $96.09 and a 1-year high of $256.00. The company has a market cap of $12.68 billion, a PE ratio of -66.04 and a beta of 0.61. 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 50-day moving average of $207.58 and a two-hundred day moving average of $180.70.

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 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 during the quarter, compared to the consensus estimate of $191.10 million. The firm’s revenue was up 57.4% compared to the same quarter last year. As a group, equities analysts expect that Axsome Therapeutics, Inc. will post -2.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Wolfe Research assumed coverage on shares of Axsome Therapeutics in a research note on Monday, February 23rd. They issued an “outperform” rating and a $230.00 target price on the stock. Truist Financial raised shares of Axsome Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Oppenheimer set a $280.00 target price on shares of Axsome Therapeutics in a research note on Monday, May 4th. UBS Group raised their target price on shares of Axsome Therapeutics from $251.00 to $259.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Finally, Needham & Company LLC raised their target price on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the company a “buy” rating in a research note 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 issued a Sell rating to the company. Based on data from MarketBeat, Axsome Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $251.26.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Kemnay Advisory Services Inc. bought a new position in Axsome Therapeutics during the 4th quarter worth approximately $31,000. Hollencrest Capital Management raised its holdings in Axsome Therapeutics by 400.0% during the 1st quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock worth $34,000 after buying an additional 160 shares during the period. Optiver Holding B.V. raised its holdings in Axsome Therapeutics by 82.3% during the 3rd quarter. Optiver Holding B.V. now owns 288 shares of the company’s stock worth $35,000 after buying an additional 130 shares during the period. Ameriflex Group Inc. acquired a new stake in Axsome Therapeutics during the 4th quarter worth approximately $37,000. Finally, Essex Investment Management Co. LLC acquired a new stake in Axsome Therapeutics during the 3rd quarter worth approximately $38,000. Institutional investors own 81.49% of the company’s stock.

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.