Axsome Therapeutics (NASDAQ:AXSM) COO Sells $2,086,500.00 in Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) COO Mark Jacobson sold 10,000 shares of Axsome Therapeutics stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $208.65, for a total transaction of $2,086,500.00. Following the completion of the transaction, the chief operating officer directly owned 10,000 shares in the company, valued at approximately $2,086,500. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Axsome Therapeutics Stock Down 0.8%

Shares of NASDAQ:AXSM opened at $206.68 on Friday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.34 and a current ratio of 1.43. The company has a market cap of $10.83 billion, a PE ratio of -55.11 and a beta of 0.71. Axsome Therapeutics, Inc. has a 52 week low of $112.90 and a 52 week high of $260.19. The firm has a 50 day simple moving average of $223.81 and a 200 day simple moving average of $207.48.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%.The firm had revenue of $218.38 million during the quarter, compared to analyst estimates of $221.11 million. As a group, research analysts expect that Axsome Therapeutics, Inc. will post -2.8 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on AXSM shares. Morgan Stanley lifted their price target on Axsome Therapeutics from $242.00 to $251.00 and gave the company an “equal weight” rating in a report on Tuesday, August 11th. Needham & Company LLC raised their price objective on Axsome Therapeutics from $267.00 to $268.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Mizuho raised their price objective on Axsome Therapeutics from $306.00 to $316.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Royal Bank Of Canada lowered their target price on Axsome Therapeutics from $304.00 to $297.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 11th. Finally, Truist Financial upgraded Axsome Therapeutics to a “strong-buy” rating in a report on Monday, June 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $267.60.

Institutional Trading of Axsome Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new position in Axsome Therapeutics in the fourth quarter valued at about $31,000. Hollencrest Capital Management raised its stake in shares of Axsome Therapeutics by 400.0% during the 1st quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock worth $34,000 after purchasing an additional 160 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in shares of Axsome Therapeutics during the 4th quarter valued at about $37,000. Advisory Services Network LLC acquired a new stake in shares of Axsome Therapeutics during the 3rd quarter valued at about $40,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Axsome Therapeutics by 602.6% in the 4th quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock valued at $50,000 after buying an additional 235 shares in the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

About Axsome Therapeutics

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.