Key Points
- Director Roger Jeffs sold 286 shares of Axsome Therapeutics on June 10 at an average price of $246.18, totaling about $70,407. The sale was reported as being made to cover tax withholding obligations tied to vesting equity awards.
- Axsome’s stock has been trading near its 52-week high, opening at $253.77, just below the 12-month peak of $257.44. The company has a market value of about $13.06 billion and remains well above its 50-day and 200-day moving averages.
- Wall Street remains broadly optimistic despite Axsome’s recent earnings miss, with a consensus rating of “Moderate Buy” and an average target price of $256.79. Analysts have mostly maintained buy or overweight ratings, citing growth potential in the company’s CNS drug pipeline.
Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) Director Roger Jeffs sold 286 shares of the company's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $246.18, for a total value of $70,407.48. Following the completion of the transaction, the director directly owned 58,653 shares of the company's stock, valued at approximately $14,439,195.54. This trade represents a 0.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Axsome Therapeutics Price Performance
NASDAQ:AXSM opened at $253.77 on Friday. 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 company has a market capitalization of $13.06 billion, a P/E ratio of -68.03 and a beta of 0.61. Axsome Therapeutics, Inc. has a 12 month low of $96.09 and a 12 month high of $257.44. The business's 50-day moving average is $209.27 and its 200 day moving average is $181.43.
Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its earnings results on Monday, May 4th. The company reported ($1.26) EPS 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 analysts' expectations 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. On average, equities research analysts forecast that Axsome Therapeutics, Inc. will post -2.27 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Axsome Therapeutics
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Axsome Therapeutics by 6.0% in the third quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company's stock worth $507,739,000 after buying an additional 235,626 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Axsome Therapeutics by 45.5% in the fourth 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 period. Wellington Management Group LLP raised its holdings in shares of Axsome Therapeutics by 84.1% in the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company's stock worth $162,082,000 after buying an additional 609,516 shares during the period. Invesco Ltd. raised its holdings 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 raised its holdings 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. 81.49% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the company. Needham & Company LLC boosted their target price on Axsome Therapeutics from $225.00 to $255.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. TD Cowen reiterated a "buy" rating on shares of Axsome Therapeutics in a research report on Friday, May 1st. UBS Group upped 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. Cantor Fitzgerald restated an "overweight" rating and set a $272.00 price objective on shares of Axsome Therapeutics in a research report on Monday, May 4th. Finally, Wells Fargo & Company upped their price objective on Axsome Therapeutics from $225.00 to $255.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $256.79.
View Our Latest Research Report on Axsome Therapeutics
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.
Further Reading
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