Axsome Therapeutics (NASDAQ:AXSM) Director Sells $70,407.48 in Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) Director Roger Jeffs sold 286 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $246.18, for a total value of $70,407.48. Following the completion of the sale, the director owned 58,653 shares of the company’s stock, valued at $14,439,195.54. The trade was a 0.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $255.17 on Friday. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.32 and a current ratio of 1.39. Axsome Therapeutics, Inc. has a fifty-two week low of $96.09 and a fifty-two week high of $257.92. The stock has a 50 day moving average price of $210.94 and a two-hundred day moving average price of $181.95. The company has a market capitalization of $13.13 billion, a P/E ratio of -68.41 and a beta of 0.61.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data 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 company had revenue of $191.20 million during the quarter, compared to the consensus estimate of $191.10 million. The company’s quarterly revenue was up 57.4% compared to the same quarter last year. Analysts expect that Axsome Therapeutics, Inc. will post -2.27 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on AXSM shares. Needham & Company LLC boosted their price objective on Axsome Therapeutics from $225.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. UBS Group upped their target price on Axsome Therapeutics from $251.00 to $259.00 and gave the company a “buy” rating in a report on Friday, April 10th. Guggenheim upped their target price on Axsome Therapeutics from $245.00 to $260.00 and gave the company a “buy” rating in a report on Monday, May 4th. Jefferies Financial Group restated a “buy” rating and set a $380.00 target price on shares of Axsome Therapeutics in a report on Thursday. Finally, Robert W. Baird upped their target price on Axsome Therapeutics from $241.00 to $246.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $256.79.

Hedge Funds Weigh In On Axsome Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kemnay Advisory Services Inc. bought a new position in shares of Axsome Therapeutics during the fourth quarter valued at approximately $31,000. Hollencrest Capital Management raised its holdings in Axsome Therapeutics by 400.0% in the first quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock worth $34,000 after purchasing an additional 160 shares in the last quarter. Optiver Holding B.V. raised its holdings in Axsome Therapeutics by 82.3% in the third quarter. Optiver Holding B.V. now owns 288 shares of the company’s stock worth $35,000 after purchasing an additional 130 shares in the last quarter. Ameriflex Group Inc. bought a new position in Axsome Therapeutics in the fourth quarter worth $37,000. Finally, Essex Investment Management Co. LLC bought a new position in Axsome Therapeutics in the third quarter worth $38,000. Institutional investors own 81.49% of the company’s stock.

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.