Axsome Therapeutics (AXSM) Stock Price Up 0.2% on Insider Buying Activity

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Shares of Axsome Therapeutics Inc (NASDAQ:AXSM) rose 0.2% during mid-day trading on Thursday after an insider bought additional shares in the company. The stock traded as high as $23.27 and last traded at $23.05. Approximately 63,564 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 2,092,014 shares. The stock had previously closed at $23.00.

Specifically, Director Mark Coleman acquired 4,650 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average cost of $21.44 per share, with a total value of $99,696.00. Following the completion of the acquisition, the director now directly owns 652,648 shares in the company, valued at $13,992,773.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Nick Pizzie acquired 5,400 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was purchased at an average cost of $12.58 per share, with a total value of $67,932.00. Following the completion of the acquisition, the chief financial officer now owns 36,340 shares of the company’s stock, valued at $457,157.20. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 15,150 shares of company stock valued at $229,746. 27.50% of the stock is owned by corporate insiders.

Several equities analysts have recently commented on AXSM shares. Cantor Fitzgerald upped their target price on Axsome Therapeutics from $16.00 to $25.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of Axsome Therapeutics in a report on Thursday, January 31st. Zacks Investment Research raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, February 5th. BidaskClub lowered Axsome Therapeutics from a “sell” rating to a “strong sell” rating in a report on Sunday, March 3rd. Finally, Svb Leerink started coverage on Axsome Therapeutics in a report on Monday, April 8th. They set an “outperform” rating and a $25.00 target price for the company. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $28.00.

The firm has a market cap of $766.02 million, a P/E ratio of -20.07 and a beta of 3.54. The company has a quick ratio of 1.41, a current ratio of 5.68 and a debt-to-equity ratio of 1.08.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.01). On average, sell-side analysts predict that Axsome Therapeutics Inc will post -1.24 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. grew its holdings in Axsome Therapeutics by 113.7% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,400 shares of the company’s stock worth $48,000 after buying an additional 1,809 shares in the last quarter. Focused Wealth Management Inc bought a new position in Axsome Therapeutics in the 1st quarter worth approximately $64,000. Barclays PLC bought a new position in Axsome Therapeutics in the 4th quarter worth approximately $30,000. Weiss Asset Management LP acquired a new stake in Axsome Therapeutics in the first quarter worth approximately $171,000. Finally, Janney Montgomery Scott LLC acquired a new stake in Axsome Therapeutics in the first quarter worth approximately $250,000. 12.34% of the stock is owned by institutional investors and hedge funds.

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Axsome Therapeutics Company Profile (NASDAQ:AXSM)

Axsome Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in developing novel therapies for central nervous system (CNS) disorders in the United States. Its product pipeline includes AXS-05, which is in the Phase III clinical trial for the treatment resistant depression; Phase II/III clinical trials in agitation associated with Alzheimer's disease; and Phase II clinical trial for the treatment of smoking cessation, as well as for major depressive disorder.

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