Insider Buying: Axsome Therapeutics Inc (NASDAQ:AXSM) Director Purchases 650 Shares of Stock

Axsome Therapeutics Inc (NASDAQ:AXSM) Director Mark Coleman purchased 650 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was bought at an average price of $78.50 per share, with a total value of $51,025.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

NASDAQ:AXSM opened at $82.28 on Wednesday. Axsome Therapeutics Inc has a fifty-two week low of $13.64 and a fifty-two week high of $109.94. The company has a quick ratio of 7.57, a current ratio of 7.57 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average price of $79.60 and a 200 day moving average price of $80.00.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Friday, May 8th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.28). On average, sell-side analysts anticipate that Axsome Therapeutics Inc will post -2.76 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in AXSM. State Street Corp grew its position in Axsome Therapeutics by 5.0% in the 1st quarter. State Street Corp now owns 661,315 shares of the company’s stock valued at $38,905,000 after acquiring an additional 31,639 shares in the last quarter. Avidity Partners Management LP purchased a new position in shares of Axsome Therapeutics in the first quarter valued at approximately $11,590,000. Public Employees Retirement Association of Colorado purchased a new position in shares of Axsome Therapeutics in the first quarter valued at approximately $220,000. Morgan Stanley grew its holdings in shares of Axsome Therapeutics by 62.8% in the first quarter. Morgan Stanley now owns 91,731 shares of the company’s stock valued at $5,397,000 after purchasing an additional 35,379 shares in the last quarter. Finally, Fred Alger Management LLC increased its stake in Axsome Therapeutics by 18.8% during the 1st quarter. Fred Alger Management LLC now owns 19,000 shares of the company’s stock worth $1,118,000 after buying an additional 3,000 shares during the period. Institutional investors own 66.19% of the company’s stock.

A number of equities analysts recently commented on AXSM shares. LADENBURG THALM/SH SH lifted their price objective on Axsome Therapeutics from $165.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. William Blair reiterated a “buy” rating on shares of Axsome Therapeutics in a report on Monday, April 6th. HC Wainwright reissued a “buy” rating and issued a $210.00 price objective on shares of Axsome Therapeutics in a report on Tuesday. Guggenheim lifted their target price on shares of Axsome Therapeutics from $158.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, Zacks Investment Research upgraded shares of Axsome Therapeutics from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a report on Friday, May 29th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Axsome Therapeutics has an average rating of “Buy” and a consensus target price of $137.30.

About Axsome Therapeutics

Axsome Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in developing novel therapies for central nervous system (CNS) disorders in the United States. Its product pipeline includes AXS-05, which is in the Phase III clinical trial for the treatment resistant depression; Phase II/III clinical trials in agitation associated with Alzheimer's disease; and Phase II clinical trial for the treatment of smoking cessation, as well as for major depressive disorder.

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