Mark Jacobson Sells 10,000 Shares of Axsome Therapeutics (NASDAQ:AXSM) Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) COO Mark Jacobson sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $208.65, for a total value of $2,086,500.00. Following the transaction, the chief operating officer directly owned 10,000 shares of the company’s stock, valued at $2,086,500. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Axsome Therapeutics Stock Down 0.8%

NASDAQ:AXSM opened at $206.68 on Friday. The firm’s 50-day moving average price is $223.81 and its 200-day moving average price is $207.48. The company has a market capitalization of $10.83 billion, a PE ratio of -55.11 and a beta of 0.71. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.43 and a quick ratio of 1.34. Axsome Therapeutics, Inc. has a 1-year low of $112.90 and a 1-year high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. The business had revenue of $218.38 million for the quarter, compared to analysts’ expectations of $221.11 million. On average, equities analysts predict that Axsome Therapeutics, Inc. will post -2.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AXSM shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Friday, July 17th. TD Cowen lifted their price target on Axsome Therapeutics from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Royal Bank Of Canada dropped their price target on shares of Axsome Therapeutics from $304.00 to $297.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 11th. Truist Financial raised shares of Axsome Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. Finally, Mizuho raised their price objective on shares of Axsome Therapeutics from $306.00 to $316.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Axsome Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $267.60.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AXSM. Norges Bank purchased a new stake in shares of Axsome Therapeutics during the 4th quarter valued at about $90,490,000. Axiom Investors LLC DE boosted its holdings in Axsome Therapeutics by 28.7% in the fourth quarter. Axiom Investors LLC DE now owns 63,390 shares of the company’s stock worth $11,578,000 after purchasing an additional 14,137 shares during the last quarter. Legato Capital Management LLC grew its position in Axsome Therapeutics by 90.6% in the 4th quarter. Legato Capital Management LLC now owns 9,627 shares of the company’s stock worth $1,758,000 after purchasing an additional 4,576 shares during the period. BNP Paribas Financial Markets raised its stake in Axsome Therapeutics by 60.1% during the 4th quarter. BNP Paribas Financial Markets now owns 304,388 shares of the company’s stock valued at $55,593,000 after buying an additional 114,282 shares during the last quarter. Finally, BlackRock Inc. bought a new position in shares of Axsome Therapeutics during the 2nd quarter valued at $759,695,000. Hedge funds and other 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.