Key Points
- Axsome Therapeutics COO Mark Jacobson sold 10,000 shares at an average price of $208.65, generating $2.09 million and reducing his ownership by 50% to 10,000 shares.
- AXSM opened at $208.35, near its 200-day moving average of $207.48, while the company reported a quarterly EPS loss of $0.99 that missed analyst expectations and revenue of $218.38 million.
- Despite the insider sale, Wall Street remains broadly positive, with a “Moderate Buy” consensus and an average price target of $267.60; institutional investors own 81.49% of the company.
Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) COO Mark Jacobson sold 10,000 shares of the firm's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $208.65, for a total value of $2,086,500.00. Following the sale, the chief operating officer owned 10,000 shares of the company's stock, valued at $2,086,500. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Axsome Therapeutics Stock Down 0.7%
Shares of NASDAQ AXSM opened at $208.35 on Friday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.34 and a current ratio of 1.43. Axsome Therapeutics, Inc. has a 1 year low of $112.90 and a 1 year high of $260.19. The stock's 50-day simple moving average is $224.52 and its 200-day simple moving average is $207.48. The firm has a market cap of $10.91 billion, a price-to-earnings ratio of -55.56 and a beta of 0.71.
Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.99) EPS for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.10). Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. The business had revenue of $218.38 million during the quarter, compared to analysts' expectations of $221.11 million. As a group, equities analysts anticipate that Axsome Therapeutics, Inc. will post -2.8 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms have recently commented on AXSM. Weiss Ratings reiterated a "sell (d-)" rating on shares of Axsome Therapeutics in a research note on Friday, July 17th. Royal Bank Of Canada reduced their price objective on shares of Axsome Therapeutics from $304.00 to $297.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 11th. Guggenheim boosted their target price on shares of Axsome Therapeutics from $260.00 to $275.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Mizuho increased their price target on shares of Axsome Therapeutics from $306.00 to $316.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 12th. Finally, Truist Financial upgraded Axsome Therapeutics to a "strong-buy" rating in a research note on Monday, June 15th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Axsome Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $267.60.
Check Out Our Latest Stock Analysis on Axsome Therapeutics
Institutional Trading of Axsome Therapeutics
Several institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in Axsome Therapeutics during the fourth quarter worth approximately $90,490,000. Axiom Investors LLC DE boosted its stake in Axsome Therapeutics by 28.7% during the 4th quarter. Axiom Investors LLC DE now owns 63,390 shares of the company's stock valued at $11,578,000 after purchasing an additional 14,137 shares in the last quarter. Legato Capital Management LLC increased its position in shares of Axsome Therapeutics by 90.6% during the 4th quarter. Legato Capital Management LLC now owns 9,627 shares of the company's stock valued at $1,758,000 after purchasing an additional 4,576 shares during the period. BNP Paribas Financial Markets increased its position in shares of Axsome Therapeutics by 60.1% during the 4th quarter. BNP Paribas Financial Markets now owns 304,388 shares of the company's stock valued at $55,593,000 after purchasing an additional 114,282 shares during the period. Finally, BlackRock Inc. bought a new stake in shares of Axsome Therapeutics in the 2nd quarter worth $759,695,000. Institutional investors 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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