Axsome Therapeutics (NASDAQ:AXSM) CEO Herriot Tabuteau Sells 49,670 Shares

Axsome Therapeutics, Inc. (NASDAQ:AXSM) CEO Herriot Tabuteau sold 49,670 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $241.01, for a total transaction of $11,970,966.70. Following the completion of the sale, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at approximately $1,742,261.29. This trade represents a 87.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Axsome Therapeutics Stock Performance

Axsome Therapeutics stock traded up $10.50 during mid-day trading on Tuesday, reaching $245.64. The company had a trading volume of 917,980 shares, compared to its average volume of 698,516. 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, Inc. has a 52 week low of $96.09 and a 52 week high of $246.41. The company has a 50 day moving average of $204.08 and a 200-day moving average of $179.27. The firm has a market cap of $12.64 billion, a price-to-earnings ratio of -65.86 and a beta of 0.61.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly 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 net margin of 26.59% and a negative return on equity of 267.16%. The company had revenue of $191.20 million during the quarter, compared to the consensus estimate of $191.10 million. Axsome Therapeutics’s revenue was up 57.4% on a year-over-year basis. On average, sell-side analysts expect that Axsome Therapeutics, Inc. will post -2.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Axsome Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in AXSM. Wellington Management Group LLP lifted 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 purchasing an additional 609,516 shares during the last quarter. First Trust Advisors LP lifted 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 purchasing an additional 534,066 shares during the last quarter. Norges Bank bought a new position in Axsome Therapeutics during the 4th quarter valued at about $90,490,000. Price T Rowe Associates Inc. MD lifted 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 purchasing an additional 472,422 shares during the last quarter. Finally, Invesco Ltd. lifted 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 purchasing an additional 419,008 shares during the last quarter. 81.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Morgan Stanley increased their price target on shares of Axsome Therapeutics from $217.00 to $242.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. Piper Sandler reaffirmed an “overweight” rating and set a $258.00 price objective on shares of Axsome Therapeutics in a report on Monday, May 4th. Wolfe Research began coverage on shares of Axsome Therapeutics in a report on Monday, February 23rd. They set an “outperform” rating and a $230.00 price objective for the company. Mizuho raised their price objective on shares of Axsome Therapeutics from $228.00 to $310.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Finally, Royal Bank Of Canada raised their price objective on shares of Axsome Therapeutics from $242.00 to $302.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $251.26.

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.