Axsome Therapeutics (NASDAQ:AXSM) COO Mark Jacobson Sells 10,000 Shares of Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) COO Mark Jacobson sold 10,000 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $208.65, for a total value of $2,086,500.00. Following the completion of the transaction, the chief operating officer owned 10,000 shares of the company’s stock, valued at $2,086,500. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Axsome Therapeutics Price Performance

AXSM stock opened at $208.35 on Friday. Axsome Therapeutics, Inc. has a 52-week low of $112.90 and a 52-week high of $260.19. The stock’s fifty day simple moving average is $224.52 and its 200-day simple moving average is $207.48. The company has a quick ratio of 1.34, a current ratio of 1.43 and a debt-to-equity ratio of 1.52. The stock has a market capitalization of $10.91 billion, a price-to-earnings ratio of -55.56 and a beta of 0.71.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, August 10th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.10). Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. The business had revenue of $218.38 million during the quarter, compared to analyst estimates of $221.11 million. Equities research analysts expect that Axsome Therapeutics, Inc. will post -2.8 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Needham & Company LLC raised their target price on shares of Axsome Therapeutics from $267.00 to $268.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Wells Fargo & Company upped their price target on shares of Axsome Therapeutics from $255.00 to $256.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. TD Cowen increased their price target on shares of Axsome Therapeutics from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Morgan Stanley lifted their price target on shares of Axsome Therapeutics from $242.00 to $251.00 and gave the company an “equal weight” rating in a report on Tuesday, August 11th. Finally, Guggenheim upped their price objective on Axsome Therapeutics from $260.00 to $275.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $267.60.

Institutional Investors Weigh In On Axsome Therapeutics

Several hedge funds have recently modified their holdings of AXSM. Kemnay Advisory Services Inc. purchased a new position in Axsome Therapeutics in the 4th quarter worth approximately $31,000. Hollencrest Capital Management raised its stake in shares of Axsome Therapeutics by 400.0% during the first quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock valued at $34,000 after purchasing an additional 160 shares during the period. Ameriflex Group Inc. purchased a new stake in shares of Axsome Therapeutics during the fourth quarter valued at approximately $37,000. ABS Investment Management LLC acquired a new position in shares of Axsome Therapeutics during the second quarter worth $171,339,000. Finally, Silvant Capital Management LLC acquired a new position in shares of Axsome Therapeutics during the second quarter worth $66,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

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.