Key Points
- Axsome Therapeutics director Mark Coleman sold 5,537 shares on June 2 at an average price of $223.39, totaling about $1.24 million. After the sale, he still held 29,603 shares, down 15.76% from his prior position.
- Coleman also sold 6,000 shares on both June 1 and May 29, making this his third recent insider sale. Those transactions were executed at average prices of $230.30 and $233.46, respectively.
- Axsome reported mixed quarterly results, with revenue of $191.2 million slightly above estimates but EPS of -$1.26, missing expectations. Despite the earnings miss, analysts remain largely bullish, with a consensus Moderate Buy rating and an average price target of $251.26.
Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) Director Mark Coleman sold 5,537 shares of the firm's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $223.39, for a total value of $1,236,910.43. Following the transaction, the director directly owned 29,603 shares of the company's stock, valued at $6,613,014.17. This represents a 15.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Mark Coleman also recently made the following trade(s):
- On Monday, June 1st, Mark Coleman sold 6,000 shares of Axsome Therapeutics stock. The shares were sold at an average price of $230.30, for a total value of $1,381,800.00.
- On Friday, May 29th, Mark Coleman sold 6,000 shares of Axsome Therapeutics stock. The shares were sold at an average price of $233.46, for a total value of $1,400,760.00.
Axsome Therapeutics Stock Performance
Shares of Axsome Therapeutics stock opened at $222.16 on Wednesday. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 2.27. The firm has a market capitalization of $11.43 billion, a P/E ratio of -59.56 and a beta of 0.61. The business has a fifty day simple moving average of $196.96 and a two-hundred day simple moving average of $176.15. Axsome Therapeutics, Inc. has a 12 month low of $96.09 and a 12 month high of $238.56.
Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.41). The firm had revenue of $191.20 million for the quarter, compared to analysts' expectations of $191.10 million. Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. Axsome Therapeutics's quarterly revenue was up 57.4% compared to the same quarter last year. On average, equities analysts forecast that Axsome Therapeutics, Inc. will post -2.14 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Axsome Therapeutics
Several large investors have recently modified their holdings of AXSM. Wellington Management Group LLP raised its position in shares of Axsome Therapeutics by 84.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company's stock worth $162,082,000 after purchasing an additional 609,516 shares during the last quarter. First Trust Advisors LP raised its position in Axsome Therapeutics by 1,230.2% in the 1st quarter. First Trust Advisors LP now owns 577,479 shares of the company's stock worth $97,606,000 after buying an additional 534,066 shares during the last quarter. Norges Bank purchased a new position in Axsome Therapeutics in the 4th quarter worth about $90,490,000. Price T Rowe Associates Inc. MD raised its position in Axsome Therapeutics by 45.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company's stock worth $275,763,000 after buying an additional 472,422 shares during the last quarter. Finally, Invesco Ltd. raised its position in Axsome Therapeutics by 73.3% in the 3rd quarter. Invesco Ltd. now owns 990,557 shares of the company's stock worth $120,303,000 after buying an additional 419,008 shares during the last quarter. Hedge funds and other institutional investors own 81.49% of the company's stock.
Analysts Set New Price Targets
AXSM has been the subject of several recent research reports. UBS Group raised their price objective on Axsome Therapeutics from $251.00 to $259.00 and gave the company a "buy" rating in a research report on Friday, April 10th. HC Wainwright lifted their price target on Axsome Therapeutics from $270.00 to $290.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Morgan Stanley lifted their price target on Axsome Therapeutics from $217.00 to $242.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 5th. Royal Bank Of Canada lifted their price target on Axsome Therapeutics from $242.00 to $302.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 5th. Finally, Robert W. Baird lifted their price target on Axsome Therapeutics from $241.00 to $246.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Axsome Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $251.26.
Check Out Our Latest Analysis on AXSM
Axsome Therapeutics Company Profile
(
Get Free Report)
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.
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