Axsome Therapeutics, Inc. (NASDAQ:AXSM) COO Sells $4,022,488.14 in Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) COO Mark L. Jacobson sold 47,739 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the completion of the sale, the chief operating officer now owns 5,783 shares of the company’s stock, valued at approximately $487,275.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Axsome Therapeutics Trading Down 2.2 %

Shares of NASDAQ AXSM traded down $1.91 during midday trading on Friday, reaching $83.09. 428,560 shares of the stock were exchanged, compared to its average volume of 699,726. The company has a market capitalization of $3.95 billion, a P/E ratio of -13.04 and a beta of 1.26. Axsome Therapeutics, Inc. has a 52-week low of $55.02 and a 52-week high of $98.40. The company has a current ratio of 3.20, a quick ratio of 3.09 and a debt-to-equity ratio of 1.25. The stock has a 50 day moving average price of $80.16 and a 200-day moving average price of $79.45.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Monday, May 6th. The company reported ($1.09) EPS for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.11. The business had revenue of $75.00 million during the quarter, compared to the consensus estimate of $69.91 million. Axsome Therapeutics had a negative net margin of 118.07% and a negative return on equity of 87.17%. Equities research analysts expect that Axsome Therapeutics, Inc. will post -4.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Axsome Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Axsome Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock valued at $298,474,000 after purchasing an additional 43,512 shares during the period. Perceptive Advisors LLC grew its holdings in Axsome Therapeutics by 115.5% in the fourth quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock valued at $82,616,000 after purchasing an additional 556,370 shares during the period. Point72 Asset Management L.P. grew its holdings in Axsome Therapeutics by 57.4% in the fourth quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock valued at $66,633,000 after purchasing an additional 305,264 shares during the period. Bellevue Group AG grew its holdings in Axsome Therapeutics by 7.9% in the first quarter. Bellevue Group AG now owns 685,476 shares of the company’s stock valued at $54,701,000 after purchasing an additional 50,104 shares during the period. Finally, Hood River Capital Management LLC grew its holdings in Axsome Therapeutics by 32.6% in the first quarter. Hood River Capital Management LLC now owns 520,750 shares of the company’s stock valued at $41,556,000 after purchasing an additional 127,997 shares during the period. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on AXSM. Mizuho reiterated a “buy” rating and issued a $106.00 price objective on shares of Axsome Therapeutics in a research note on Wednesday, June 12th. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price objective on shares of Axsome Therapeutics in a research note on Monday. Morgan Stanley upgraded shares of Axsome Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $90.00 to $115.00 in a research report on Monday, April 29th. Robert W. Baird lifted their target price on shares of Axsome Therapeutics from $108.00 to $112.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Finally, StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Axsome Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $123.38.

About Axsome Therapeutics

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company's commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.