Axsome Therapeutics (NASDAQ:AXSM) CEO Sells $11,970,966.70 in Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) CEO Herriot Tabuteau sold 49,670 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $241.01, for a total value of $11,970,966.70. Following the transaction, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at approximately $1,742,261.29. This trade represents a 87.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Axsome Therapeutics Stock Performance

NASDAQ AXSM opened at $253.77 on Friday. Axsome Therapeutics, Inc. has a 1-year low of $96.09 and a 1-year high of $257.44. The company has a market capitalization of $13.06 billion, a P/E ratio of -68.03 and a beta of 0.61. The business has a 50 day moving average price of $209.27 and a 200 day moving average price of $181.43. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Monday, May 4th. The company reported ($1.26) earnings per share 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. Axsome Therapeutics’s revenue for the quarter was up 57.4% compared to the same quarter last year. Sell-side analysts expect that Axsome Therapeutics, Inc. will post -2.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AXSM. Oppenheimer set a $280.00 price objective on shares of Axsome Therapeutics in a research note on Monday, May 4th. Truist Financial raised shares of Axsome Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Piper Sandler reissued an “overweight” rating and issued a $258.00 price objective on shares of Axsome Therapeutics in a research note on Monday, May 4th. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price objective on shares of Axsome Therapeutics in a research note on Thursday. Finally, UBS Group increased their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Axsome Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $256.79.

Institutional Investors Weigh In On Axsome Therapeutics

Hedge funds have recently made changes to their positions in the business. Birchview Capital LP raised its holdings in shares of Axsome Therapeutics by 1.0% in the 4th quarter. Birchview Capital LP now owns 6,061 shares of the company’s stock worth $1,107,000 after purchasing an additional 61 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Axsome Therapeutics by 3.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,921 shares of the company’s stock worth $351,000 after purchasing an additional 65 shares during the period. Xponance LLC raised its holdings in shares of Axsome Therapeutics by 2.4% in the 4th quarter. Xponance LLC now owns 3,265 shares of the company’s stock worth $596,000 after purchasing an additional 76 shares during the period. Assetmark Inc. raised its holdings in shares of Axsome Therapeutics by 7.2% in the 1st quarter. Assetmark Inc. now owns 1,182 shares of the company’s stock worth $200,000 after purchasing an additional 79 shares during the period. Finally, Allworth Financial LP raised its holdings in shares of Axsome Therapeutics by 6.6% in the 3rd quarter. Allworth Financial LP now owns 1,442 shares of the company’s stock worth $175,000 after purchasing an additional 89 shares during the period. Institutional investors and hedge funds 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.