Mark Saad Sells 37,577 Shares of Axsome Therapeutics (NASDAQ:AXSM) Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) Director Mark Saad sold 37,577 shares of the stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $165.18, for a total transaction of $6,206,968.86. Following the completion of the transaction, the director owned 10,002 shares in the company, valued at $1,652,130.36. This represents a 78.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Axsome Therapeutics Stock Down 2.2%

Shares of Axsome Therapeutics stock traded down $3.95 during trading hours on Friday, hitting $178.69. The company had a trading volume of 1,431,205 shares, compared to its average volume of 571,301. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.57 and a quick ratio of 1.50. The company’s 50-day moving average is $146.30 and its two-hundred day moving average is $124.92. The company has a market cap of $9.01 billion, a P/E ratio of -38.26 and a beta of 0.44. Axsome Therapeutics, Inc. has a twelve month low of $79.19 and a twelve month high of $184.40.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.12). The company had revenue of $170.99 million during the quarter, compared to analysts’ expectations of $162.96 million. Axsome Therapeutics had a negative net margin of 40.90% and a negative return on equity of 277.31%. Axsome Therapeutics’s revenue was up 63.2% compared to the same quarter last year. Analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Morgan Stanley reaffirmed an “overweight” rating on shares of Axsome Therapeutics in a research report on Wednesday. B. Riley started coverage on shares of Axsome Therapeutics in a report on Wednesday, October 1st. They issued a “buy” rating and a $179.00 target price on the stock. Cowen reiterated a “buy” rating on shares of Axsome Therapeutics in a research report on Wednesday. Mizuho set a $217.00 price objective on shares of Axsome Therapeutics in a research report on Wednesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $183.94.

Hedge Funds Weigh In On Axsome Therapeutics

A number of large investors have recently bought and sold shares of the company. Versant Capital Management Inc boosted its holdings in shares of Axsome Therapeutics by 20,300.0% in the third quarter. Versant Capital Management Inc now owns 204 shares of the company’s stock valued at $25,000 after acquiring an additional 203 shares in the last quarter. First Horizon Corp acquired a new stake in Axsome Therapeutics in the third quarter valued at about $34,000. Optiver Holding B.V. lifted its position in Axsome Therapeutics by 82.3% in the third quarter. Optiver Holding B.V. now owns 288 shares of the company’s stock valued at $35,000 after purchasing an additional 130 shares during the period. AlphaQuest LLC purchased a new stake in Axsome Therapeutics in the 1st quarter valued at approximately $38,000. Finally, Essex Investment Management Co. LLC acquired a new position in Axsome Therapeutics during the 3rd quarter worth approximately $38,000. Hedge funds and other 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.