Key Points
- Axsome Therapeutics CFO Nick Pizzie sold 33,000 shares on June 9 at an average price of $240.09, netting about $7.9 million. After the sale, he still held 42,867 shares, a 43.5% reduction in his stake.
- The stock was trading up 4.5% and opened at $245.64, near its 52-week high of $246.41. Axsome now has a market cap of about $12.64 billion.
- Recent results showed mixed fundamentals: quarterly revenue rose 57.4% year over year to $191.2 million, but EPS of -$1.26 missed expectations. Analysts still remain broadly constructive, with a consensus rating of “Moderate Buy” and an average price target of $251.26.
Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) CFO Nick Pizzie sold 33,000 shares of the company's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $240.09, for a total value of $7,922,970.00. Following the completion of the sale, the chief financial officer owned 42,867 shares of the company's stock, valued at $10,291,938.03. This trade represents a 43.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Axsome Therapeutics Trading Up 4.5%
NASDAQ:AXSM opened at $245.64 on Wednesday. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32. The firm has a market capitalization of $12.64 billion, a price-to-earnings ratio of -65.86 and a beta of 0.61. Axsome Therapeutics, Inc. has a one year low of $96.09 and a one year high of $246.41. The business has a fifty day moving average price of $205.86 and a 200-day moving average price of $179.97.
Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing analysts' consensus estimates 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 company's quarterly revenue was up 57.4% compared to the same quarter last year. Sell-side analysts forecast that Axsome Therapeutics, Inc. will post -2.24 EPS for the current year.
Analyst Upgrades and Downgrades
AXSM has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on shares of Axsome Therapeutics from $217.00 to $242.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 5th. Needham & Company LLC upped their price target on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Jefferies Financial Group upped their price target on shares of Axsome Therapeutics from $245.00 to $275.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. HC Wainwright reiterated a "buy" rating on shares of Axsome Therapeutics in a research report on Thursday, June 4th. Finally, Robert W. Baird upped their price target on shares of 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 issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $251.26.
Check Out Our Latest Research Report on AXSM
Hedge Funds Weigh In On Axsome Therapeutics
Hedge funds and other institutional investors have recently modified their holdings of the stock. Kemnay Advisory Services Inc. bought a new position in shares of Axsome Therapeutics during the fourth quarter worth $31,000. Hollencrest Capital Management raised its stake in Axsome Therapeutics by 400.0% during the first quarter. Hollencrest Capital Management now owns 200 shares of the company's stock valued at $34,000 after purchasing an additional 160 shares in the last quarter. Optiver Holding B.V. raised its stake in Axsome Therapeutics by 82.3% during the third quarter. Optiver Holding B.V. now owns 288 shares of the company's stock valued at $35,000 after purchasing an additional 130 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in Axsome Therapeutics during the fourth quarter valued at $37,000. Finally, Essex Investment Management Co. LLC purchased a new stake in Axsome Therapeutics during the third quarter valued at $38,000. Institutional investors own 81.49% of the company's stock.
About Axsome Therapeutics
(
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
