Axsome Therapeutics (NASDAQ:AXSM) COO Sells $5,241,237.84 in Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) COO Mark Jacobson sold 45,783 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $114.48, for a total transaction of $5,241,237.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Axsome Therapeutics Price Performance

Shares of Axsome Therapeutics stock opened at $118.63 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.51 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $5.92 billion, a price-to-earnings ratio of -23.40 and a beta of 0.54. Axsome Therapeutics, Inc. has a 1-year low of $75.56 and a 1-year high of $139.13. The firm’s 50-day moving average price is $112.74 and its two-hundred day moving average price is $110.51.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Monday, August 4th. The company reported ($0.92) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.08. The firm had revenue of $150.04 million for the quarter, compared to analysts’ expectations of $140.02 million. Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. On average, equities analysts predict that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on AXSM. Oppenheimer began coverage on shares of Axsome Therapeutics in a research note on Tuesday, June 3rd. They set an “outperform” rating and a $185.00 price objective on the stock. Royal Bank Of Canada upped their price objective on shares of Axsome Therapeutics from $184.00 to $189.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Needham & Company LLC reissued a “buy” rating and set a $150.00 price target on shares of Axsome Therapeutics in a research note on Monday, August 4th. Morgan Stanley initiated coverage on shares of Axsome Therapeutics in a research note on Thursday, July 3rd. They set an “overweight” rating and a $190.00 price target on the stock. Finally, Bank of America increased their price target on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company’s stock. According to MarketBeat, Axsome Therapeutics currently has an average rating of “Buy” and an average price target of $177.86.

Institutional Investors Weigh In On Axsome Therapeutics

Several hedge funds have recently bought and sold shares of the company. BVF Inc. IL raised its holdings in Axsome Therapeutics by 21.8% in the first quarter. BVF Inc. IL now owns 1,690,221 shares of the company’s stock worth $197,130,000 after purchasing an additional 302,157 shares during the period. Geode Capital Management LLC raised its holdings in Axsome Therapeutics by 5.8% in the second quarter. Geode Capital Management LLC now owns 989,453 shares of the company’s stock worth $103,303,000 after purchasing an additional 54,600 shares during the period. State Street Corp raised its holdings in Axsome Therapeutics by 5.8% in the second quarter. State Street Corp now owns 958,503 shares of the company’s stock worth $100,058,000 after purchasing an additional 52,483 shares during the period. Invesco Ltd. raised its holdings in Axsome Therapeutics by 23.8% in the first quarter. Invesco Ltd. now owns 857,001 shares of the company’s stock worth $99,952,000 after purchasing an additional 164,537 shares during the period. Finally, Bank of America Corp DE raised its holdings in Axsome Therapeutics by 41.1% in the second quarter. Bank of America Corp DE now owns 753,429 shares of the company’s stock worth $78,650,000 after purchasing an additional 219,527 shares during the period. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.