Axsome Therapeutics (NASDAQ:AXSM) Director Roger Jeffs Sells 286 Shares

Axsome Therapeutics, Inc. (NASDAQ:AXSM) Director Roger Jeffs sold 286 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $246.18, for a total transaction of $70,407.48. Following the completion of the transaction, the director directly owned 58,653 shares of the company’s stock, valued at approximately $14,439,195.54. The trade was a 0.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Axsome Therapeutics Trading Up 3.0%

Shares of NASDAQ:AXSM traded up $7.43 during trading on Thursday, reaching $253.77. The company’s stock had a trading volume of 787,474 shares, compared to its average volume of 626,109. The firm’s 50 day simple moving average is $209.27 and its two-hundred day simple moving average is $181.43. The stock has a market capitalization of $13.06 billion, a PE ratio of -68.03 and a beta of 0.61. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 2.27. Axsome Therapeutics, Inc. has a 12 month low of $96.09 and a 12 month high of $257.44.

Axsome Therapeutics (NASDAQ:AXSM) last released its 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 firm had revenue of $191.20 million during the quarter, compared to the consensus estimate of $191.10 million. Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The business’s revenue was up 57.4% on a year-over-year basis. On average, research analysts predict that Axsome Therapeutics, Inc. will post -2.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Morgan Stanley upgraded shares of Axsome Therapeutics from a “reduce” rating to an “overweight” rating in a report on Thursday. Guggenheim raised their target price on shares of Axsome Therapeutics from $245.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, May 4th. UBS Group boosted their target price on shares of Axsome Therapeutics from $251.00 to $259.00 and gave the company a “buy” rating in a research note on Friday, April 10th. TD Cowen reissued a “buy” rating on shares of Axsome Therapeutics in a research note on Friday, May 1st. Finally, Oppenheimer set a $280.00 target price on shares of Axsome Therapeutics in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $256.79.

Institutional Investors Weigh In On Axsome Therapeutics

Several hedge funds have recently made changes to their positions in the company. Seven Fleet Capital Management LP lifted its holdings in shares of Axsome Therapeutics by 8.5% in the 1st quarter. Seven Fleet Capital Management LP now owns 14,055 shares of the company’s stock worth $2,376,000 after buying an additional 1,100 shares during the period. Perceptive Advisors LLC lifted its holdings in Axsome Therapeutics by 0.7% during the first quarter. Perceptive Advisors LLC now owns 149,950 shares of the company’s stock worth $25,345,000 after buying an additional 1,050 shares during the period. Janus Henderson Group PLC lifted its holdings in Axsome Therapeutics by 26.1% during the first quarter. Janus Henderson Group PLC now owns 19,052 shares of the company’s stock worth $3,219,000 after buying an additional 3,948 shares during the period. Amundi purchased a new stake in Axsome Therapeutics during the first quarter worth $498,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Axsome Therapeutics by 48.0% during the first quarter. EverSource Wealth Advisors LLC now owns 512 shares of the company’s stock worth $87,000 after buying an additional 166 shares during the period. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

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.