Mark Coleman Sells 643 Shares of Axsome Therapeutics (NASDAQ:AXSM) Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) Director Mark Coleman sold 643 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $249.00, for a total value of $160,107.00. Following the completion of the sale, the director directly owned 30,389 shares in the company, valued at approximately $7,566,861. This represents a 2.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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.
• On Friday, May 29th, Mark Coleman sold 6,000 shares of Axsome Therapeutics stock. The shares were sold at an average price of $233.46, for a total value of $1,400,760.00.

Axsome Therapeutics Stock Performance

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

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.41). The business had revenue of $191.20 million during the quarter, compared to analyst estimates of $191.10 million. Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The firm’s quarterly revenue was up 57.4% compared to the same quarter last year. As a group, research analysts anticipate that Axsome Therapeutics, Inc. will post -2.24 earnings per share for the current year.

Analysts Set New Price Targets

AXSM has been the topic of several research analyst reports. Robert W. Baird raised their price target on Axsome Therapeutics from $241.00 to $246.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Truist Financial raised Axsome Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Wolfe Research initiated coverage on Axsome Therapeutics in a research report on Monday, February 23rd. They set an “outperform” rating and a $230.00 target price on the stock. Royal Bank Of Canada lifted their target price on Axsome Therapeutics from $242.00 to $302.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Finally, Guggenheim lifted 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 research 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $251.26.

Institutional Investors Weigh In On Axsome Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. acquired a new stake in Axsome Therapeutics during the fourth quarter worth about $31,000. Hollencrest Capital Management boosted its holdings in 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 purchasing an additional 160 shares in the last quarter. Optiver Holding B.V. boosted its holdings in Axsome Therapeutics by 82.3% during the third quarter. Optiver Holding B.V. now owns 288 shares of the company’s stock valued at $35,000 after purchasing an additional 130 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in Axsome Therapeutics during the fourth quarter valued at approximately $37,000. Finally, Essex Investment Management Co. LLC acquired a new stake in Axsome Therapeutics during the third quarter valued at approximately $38,000. 81.49% of the stock is owned by institutional investors and hedge funds.

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.