Axsome Therapeutics (NASDAQ:AXSM) Director Mark Coleman Sells 6,000 Shares

Axsome Therapeutics, Inc. (NASDAQ:AXSM) Director Mark Coleman sold 6,000 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $233.46, for a total value of $1,400,760.00. Following the sale, the director owned 41,140 shares in the company, valued at approximately $9,604,544.40. This represents a 12.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Mark Coleman also recently made the following trade(s):

• On Tuesday, June 2nd, Mark Coleman sold 5,537 shares of Axsome Therapeutics stock. The shares were sold at an average price of $223.39, for a total value of $1,236,910.43.
• On Monday, June 1st, Mark Coleman sold 6,000 shares of Axsome Therapeutics stock. The shares were sold at an average price of $230.30, for a total value of $1,381,800.00.

Axsome Therapeutics Trading Down 3.5%

Shares of AXSM opened at $222.16 on Wednesday. The business’s 50-day moving average price is $196.96 and its 200-day moving average price is $176.15. Axsome Therapeutics, Inc. has a twelve month low of $96.09 and a twelve month high of $238.56. The stock has a market cap of $11.43 billion, a PE ratio of -59.56 and a beta of 0.61. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $191.10 million. The company’s revenue was up 57.4% compared to the same quarter last year. On average, equities analysts forecast that Axsome Therapeutics, Inc. will post -2.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AXSM. Jefferies Financial Group boosted their price objective on Axsome Therapeutics from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft set a $280.00 price objective on Axsome Therapeutics in a report on Tuesday, May 5th. Morgan Stanley upped their target price on Axsome Therapeutics from $217.00 to $242.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 5th. Oppenheimer set a $280.00 target price on Axsome Therapeutics in a research note on Monday, May 4th. Finally, Guggenheim increased their price objective on Axsome Therapeutics from $245.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $251.26.

Institutional Trading of Axsome Therapeutics

A number of institutional investors have recently made changes to their positions in AXSM. 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 shares of Axsome Therapeutics by 400.0% during the first quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock valued at $34,000 after acquiring an additional 160 shares in the last quarter. Ameriflex Group Inc. bought a new position in shares of Axsome Therapeutics during the fourth quarter valued at approximately $37,000. GAMMA Investing LLC raised its holdings in shares of Axsome Therapeutics by 65.4% during the fourth quarter. GAMMA Investing LLC now owns 268 shares of the company’s stock valued at $49,000 after acquiring an additional 106 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Axsome Therapeutics by 602.6% during the fourth quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock valued at $50,000 after acquiring an additional 235 shares in the last quarter. Hedge funds and other 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.