Key Points
- Director Mark Coleman sold 643 shares of Axsome Therapeutics on June 10 at $249.00 per share, totaling about $160,107. The sale was made to cover tax withholding tied to vesting equity awards.
- Axsome Therapeutics recently reported better-than-expected revenue but a wider-than-expected loss for the quarter, with EPS of -$1.26 versus estimates of -$0.85 and revenue of $191.2 million, up 57.4% year over year.
- Despite the insider selling, Wall Street remains constructive on the stock: analysts have a consensus rating of “Moderate Buy” with an average price target of $251.26, while the shares recently traded near $246.34.
Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) Director Susan Mahony sold 300 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $237.21, for a total value of $71,163.00. Following the transaction, the director directly owned 1,129 shares of the company's stock, valued at $267,810.09. This trade represents a 20.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Axsome Therapeutics Stock Up 0.3%
NASDAQ:AXSM opened at $246.34 on Thursday. The firm has a market capitalization of $12.68 billion, a PE ratio of -66.04 and a beta of 0.61. The stock has a 50 day moving average of $207.58 and a 200-day moving average of $180.70. Axsome Therapeutics, Inc. has a 52 week low of $96.09 and a 52 week high of $256.00. 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 (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.85) by ($0.41). Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The business had revenue of $191.20 million during the quarter, compared to the consensus estimate of $191.10 million. Axsome Therapeutics's revenue for the quarter was up 57.4% on a year-over-year basis. Analysts predict that Axsome Therapeutics, Inc. will post -2.24 EPS for the current year.
Analyst Ratings Changes
AXSM has been the subject of a number of research analyst reports. Oppenheimer set a $280.00 target price on Axsome Therapeutics in a research report on Monday, May 4th. Jefferies Financial Group restated a "buy" rating on shares of Axsome Therapeutics in a research report on Thursday. Wells Fargo & Company upped their target price on Axsome Therapeutics from $225.00 to $255.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 5th. Royal Bank Of Canada upped their target price 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, Weiss Ratings restated a "sell (d-)" rating on shares of Axsome Therapeutics in a research report on Monday, April 20th. One 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $251.26.
View Our Latest Report on AXSM
Institutional Investors Weigh In On Axsome Therapeutics
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Axsome Therapeutics by 6.0% during the 3rd quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company's stock valued at $507,739,000 after acquiring an additional 235,626 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Axsome Therapeutics by 45.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company's stock valued at $275,763,000 after acquiring an additional 472,422 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Axsome Therapeutics by 84.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company's stock valued at $162,082,000 after acquiring an additional 609,516 shares during the last quarter. Invesco Ltd. boosted its position in shares of Axsome Therapeutics by 28.6% in the fourth quarter. Invesco Ltd. now owns 1,273,494 shares of the company's stock worth $232,591,000 after buying an additional 282,937 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Axsome Therapeutics by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 1,010,249 shares of the company's stock worth $184,544,000 after buying an additional 12,549 shares during the period. Institutional investors and hedge funds own 81.49% of the company's stock.
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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