Insider Selling: Axsome Therapeutics (NASDAQ:AXSM) COO Sells 10,000 Shares of Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) COO Mark Jacobson sold 10,000 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $115.96, for a total transaction of $1,159,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Axsome Therapeutics Trading Up 0.6%

AXSM opened at $118.19 on Wednesday. The stock has a market capitalization of $5.90 billion, a P/E ratio of -23.31 and a beta of 0.54. Axsome Therapeutics, Inc. has a 12 month low of $75.56 and a 12 month high of $139.13. The firm’s fifty day simple moving average is $113.14 and its 200 day simple moving average is $110.26. The company has a current ratio of 1.57, a quick ratio of 1.51 and a debt-to-equity ratio of 1.66.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, August 4th. The company reported ($0.92) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.08. The business 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%. As a group, research analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AXSM shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Axsome Therapeutics in a research report on Monday, August 4th. Wells Fargo & Company raised shares of Axsome Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 3rd. Bank of America boosted their price target on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. HC Wainwright reissued a “buy” rating and set a $180.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, June 10th. Finally, Morgan Stanley began coverage on shares of Axsome Therapeutics in a research report on Thursday, July 3rd. They set an “overweight” rating and a $190.00 price target on the stock. Two equities research 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.com, Axsome Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $177.86.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. grew its position in shares of Axsome Therapeutics by 42.8% during the 1st quarter. Principal Financial Group Inc. now owns 295,671 shares of the company’s stock worth $34,484,000 after purchasing an additional 88,606 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in shares of Axsome Therapeutics during the 1st quarter worth approximately $2,229,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Axsome Therapeutics by 20.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,642 shares of the company’s stock worth $4,877,000 after acquiring an additional 9,928 shares in the last quarter. Trek Financial LLC acquired a new stake in shares of Axsome Therapeutics during the 1st quarter worth approximately $3,446,000. Finally, Edgestream Partners L.P. acquired a new stake in shares of Axsome Therapeutics during the 1st quarter worth approximately $8,174,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

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.