Mark Coleman Sells 3,000 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) Director Mark Coleman sold 3,000 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $107.49, for a total transaction of $322,470.00. Following the transaction, the director now directly owns 54,137 shares of the company’s stock, valued at $5,819,186.13. This represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Axsome Therapeutics Trading Up 0.0%

Shares of AXSM stock opened at $108.35 on Wednesday. The stock has a market cap of $5.33 billion, a P/E ratio of -18.09 and a beta of 0.46. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. Axsome Therapeutics, Inc. has a fifty-two week low of $64.11 and a fifty-two week high of $139.13. The business has a fifty day simple moving average of $110.00 and a 200-day simple moving average of $105.45.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, beating the consensus estimate of ($0.97) by $0.01. The firm had revenue of $118.77 million during the quarter, compared to the consensus estimate of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. On average, analysts forecast that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Institutional Trading of Axsome Therapeutics

Several large investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd acquired a new position in shares of Axsome Therapeutics during the 1st quarter worth approximately $25,000. Quantbot Technologies LP acquired a new stake in Axsome Therapeutics during the 1st quarter valued at $31,000. NBC Securities Inc. acquired a new stake in Axsome Therapeutics during the 1st quarter valued at $31,000. AlphaQuest LLC purchased a new position in Axsome Therapeutics during the first quarter worth $38,000. Finally, Neo Ivy Capital Management acquired a new position in shares of Axsome Therapeutics in the first quarter worth $41,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AXSM shares. Truist Financial boosted their target price on Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Morgan Stanley lifted their price target on Axsome Therapeutics from $125.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Leerink Partners increased their price objective on Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. Mizuho raised their target price on Axsome Therapeutics from $212.00 to $216.00 and gave the company an “outperform” rating in a report on Thursday, March 27th. Finally, Royal Bank of Canada upped their price target on shares of Axsome Therapeutics from $190.00 to $193.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Axsome Therapeutics currently has an average rating of “Buy” and an average target price of $172.14.

About Axsome Therapeutics

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company’s commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.