Insider Selling: Axsome Therapeutics (NASDAQ:AXSM) Director Sells 300 Shares of Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) Director Susan Mahony sold 300 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total value of $71,163.00. Following the sale, the director directly owned 1,129 shares of the company’s stock, valued at $267,810.09. This represents a 20.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Axsome Therapeutics Stock Performance

Shares of NASDAQ AXSM traded up $0.70 during midday trading on Wednesday, reaching $246.34. The company’s stock had a trading volume of 741,228 shares, compared to its average volume of 629,825. Axsome Therapeutics, Inc. has a 12-month low of $96.09 and a 12-month high of $256.00. The firm has a 50 day moving average price of $207.58 and a 200-day moving average price of $180.70. The stock has a market capitalization of $12.68 billion, a P/E ratio of -66.04 and a beta of 0.61. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, May 4th. The company reported ($1.26) EPS 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 firm had revenue of $191.20 million during the quarter, compared to analysts’ expectations of $191.10 million. The company’s revenue for the quarter was up 57.4% compared to the same quarter last year. As a group, equities analysts predict that Axsome Therapeutics, Inc. will post -2.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AXSM shares. Needham & Company LLC increased their target price on Axsome Therapeutics from $225.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. UBS Group increased their target price on Axsome Therapeutics from $251.00 to $259.00 and gave the stock a “buy” rating in a research report on Friday, April 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Monday, April 20th. Cantor Fitzgerald restated an “overweight” rating and set a $272.00 target price on shares of Axsome Therapeutics in a research report on Monday, May 4th. Finally, Guggenheim increased their target price on Axsome Therapeutics from $245.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.26.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Birchview Capital LP increased its holdings in shares of Axsome Therapeutics by 1.0% in the fourth quarter. Birchview Capital LP now owns 6,061 shares of the company’s stock worth $1,107,000 after purchasing an additional 61 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Axsome Therapeutics by 3.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,921 shares of the company’s stock worth $351,000 after purchasing an additional 65 shares during the period. Xponance LLC increased its holdings in shares of Axsome Therapeutics by 2.4% in the fourth quarter. Xponance LLC now owns 3,265 shares of the company’s stock worth $596,000 after purchasing an additional 76 shares during the period. Assetmark Inc. increased its stake in Axsome Therapeutics by 7.2% in the first quarter. Assetmark Inc. now owns 1,182 shares of the company’s stock valued at $200,000 after acquiring an additional 79 shares during the last quarter. Finally, Allworth Financial LP increased its stake in Axsome Therapeutics by 6.6% in the third quarter. Allworth Financial LP now owns 1,442 shares of the company’s stock valued at $175,000 after acquiring an additional 89 shares during the last quarter. 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.