Axsome Therapeutics (NASDAQ:AXSM) Director Mark Coleman Sells 6,000 Shares

Axsome Therapeutics, Inc. (NASDAQ:AXSM) Director Mark Coleman sold 6,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $230.30, for a total value of $1,381,800.00. Following the sale, the director owned 35,140 shares of the company’s stock, valued at approximately $8,092,742. The trade was a 14.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 value of $1,236,910.43.
• On Friday, May 29th, Mark Coleman sold 6,000 shares of Axsome Therapeutics stock. The stock was sold at an average price of $233.46, for a total value of $1,400,760.00.

Axsome Therapeutics Trading Down 3.5%

AXSM stock opened at $222.16 on Wednesday. The company has a market cap of $11.43 billion, a price-to-earnings ratio of -59.56 and a beta of 0.61. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27. The business has a fifty day simple moving average of $196.96 and a 200-day simple moving average of $176.15. Axsome Therapeutics, Inc. has a 52 week low of $96.09 and a 52 week high of $238.56.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Monday, May 4th. The company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The firm had revenue of $191.20 million for the quarter, compared to analyst estimates of $191.10 million. The business’s revenue for the quarter was up 57.4% on a year-over-year basis. On average, equities research analysts expect that Axsome Therapeutics, Inc. will post -2.14 EPS for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

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

Analysts Set New Price Targets

AXSM has been the subject of a number of research reports. Piper Sandler reaffirmed an “overweight” rating and set a $258.00 price target on shares of Axsome Therapeutics 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. Oppenheimer set a $280.00 price target on shares of Axsome Therapeutics in a research report on Monday, May 4th. Morgan Stanley upped their price target on shares of Axsome Therapeutics from $217.00 to $242.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 5th. Finally, Jefferies Financial Group upped their price target on shares of Axsome Therapeutics from $245.00 to $275.00 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 given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.