Insider Selling: Axsome Therapeutics (NASDAQ:AXSM) Director Sells $1,400,760.00 in Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) Director Mark Coleman sold 6,000 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $233.46, for a total transaction of $1,400,760.00. Following the sale, the director directly owned 41,140 shares of the company’s stock, valued at approximately $9,604,544.40. This trade represents a 12.73% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 stock was sold at an average price of $223.39, for a total transaction of $1,236,910.43.
• On Monday, June 1st, Mark Coleman sold 6,000 shares of Axsome Therapeutics stock. The stock was sold at an average price of $230.30, for a total value of $1,381,800.00.

Axsome Therapeutics Stock Down 0.9%

Shares of NASDAQ:AXSM opened at $231.48 on Friday. 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, Inc. has a 52-week low of $96.09 and a 52-week high of $238.56. The company has a 50 day moving average of $201.25 and a two-hundred day moving average of $178.04. The company has a market capitalization of $11.91 billion, a price-to-earnings ratio of -62.06 and a beta of 0.61.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data 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). 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 analyst estimates of $191.10 million. The firm’s revenue for the quarter was up 57.4% compared to the same quarter last year. As a group, analysts forecast that Axsome Therapeutics, Inc. will post -2.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Axsome Therapeutics

Large investors have recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. bought a new position in Axsome Therapeutics during the fourth quarter worth $31,000. Hollencrest Capital Management lifted its stake in Axsome Therapeutics by 400.0% during the first quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock worth $34,000 after purchasing an additional 160 shares during the last quarter. Ameriflex Group Inc. bought a new position in Axsome Therapeutics during the fourth quarter worth $37,000. GAMMA Investing LLC lifted its stake in Axsome Therapeutics by 65.4% during the fourth quarter. GAMMA Investing LLC now owns 268 shares of the company’s stock worth $49,000 after purchasing an additional 106 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Axsome Therapeutics by 602.6% during the fourth quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock worth $50,000 after purchasing an additional 235 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on AXSM shares. Royal Bank Of Canada increased their price objective on shares of Axsome Therapeutics from $242.00 to $302.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Jefferies Financial Group increased their price objective on shares of Axsome Therapeutics from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Monday, April 20th. TD Cowen reaffirmed a “buy” rating on shares of Axsome Therapeutics in a research report on Friday, May 1st. Finally, Deutsche Bank Aktiengesellschaft set a $280.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Axsome Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $251.26.

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.