Axsome Therapeutics (NASDAQ:AXSM) Insider Ari Maizel Sells 7,500 Shares of Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) insider Ari Maizel sold 7,500 shares of the stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $182.42, for a total transaction of $1,368,150.00. Following the completion of the sale, the insider directly owned 7,500 shares of the company’s stock, valued at $1,368,150. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Axsome Therapeutics Trading Down 2.0%

Shares of AXSM opened at $182.72 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.55 and a quick ratio of 1.48. Axsome Therapeutics, Inc. has a 1 year low of $96.09 and a 1 year high of $191.50. The company has a 50 day simple moving average of $170.28 and a two-hundred day simple moving average of $159.70. The firm has a market cap of $9.35 billion, a P/E ratio of -49.52 and a beta of 0.48.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, February 23rd. The company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.14. Axsome Therapeutics had a negative net margin of 28.69% and a negative return on equity of 232.61%. The business had revenue of $196.00 million during the quarter, compared to analyst estimates of $191.33 million. Axsome Therapeutics’s revenue for the quarter was up 65.0% on a year-over-year basis. On average, equities analysts expect that Axsome Therapeutics, Inc. will post -1.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Axsome Therapeutics

A number of large investors have recently added to or reduced their stakes in AXSM. Wellington Management Group LLP raised its holdings in Axsome Therapeutics by 84.1% in the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock worth $162,082,000 after purchasing an additional 609,516 shares in the last quarter. Norges Bank purchased a new stake in Axsome Therapeutics in the fourth quarter valued at approximately $90,490,000. Price T Rowe Associates Inc. MD boosted its position in Axsome Therapeutics by 45.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock valued at $275,763,000 after buying an additional 472,422 shares during the last quarter. Invesco Ltd. boosted its position in Axsome Therapeutics by 73.3% in the third quarter. Invesco Ltd. now owns 990,557 shares of the company’s stock valued at $120,303,000 after buying an additional 419,008 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its position in Axsome Therapeutics by 831.3% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 447,000 shares of the company’s stock worth $46,662,000 after purchasing an additional 399,000 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AXSM shares. Wolfe Research started coverage on Axsome Therapeutics in a research report on Monday, February 23rd. They issued an “outperform” rating and a $230.00 price target for the company. Leerink Partners increased their price target on Axsome Therapeutics from $150.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. UBS Group raised their price target on Axsome Therapeutics from $251.00 to $259.00 and gave the stock a “buy” rating in a research note on Friday, April 10th. Robert W. Baird set a $209.00 price objective on Axsome Therapeutics in a report on Tuesday, January 13th. Finally, Morgan Stanley set a $207.00 price objective on Axsome Therapeutics in a research report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Axsome Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $218.06.

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.