Mark E. Saad Sells 11,016 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total value of $1,005,870.96. Following the completion of the sale, the director now owns 10,002 shares in the company, valued at approximately $913,282.62. The transaction was disclosed in a filing with the SEC, which is available at this link.

Axsome Therapeutics Stock Performance

NASDAQ AXSM opened at $91.75 on Friday. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.48 and a quick ratio of 2.40. The stock’s 50 day simple moving average is $86.46 and its 200-day simple moving average is $79.04. The company has a market cap of $4.36 billion, a PE ratio of -14.38 and a beta of 1.25. Axsome Therapeutics, Inc. has a 1-year low of $55.02 and a 1-year high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, August 5th. The company reported ($1.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.30) by $0.06. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%. The company had revenue of $87.17 million for the quarter, compared to analyst estimates of $84.53 million. As a group, equities research analysts anticipate that Axsome Therapeutics, Inc. will post -4.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AXSM. UBS Group lowered their price target on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Bank of America upgraded shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $95.00 to $106.00 in a research report on Tuesday, August 6th. Wells Fargo & Company started coverage on Axsome Therapeutics in a research report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $180.00 price target on shares of Axsome Therapeutics in a report on Thursday, September 5th. Finally, StockNews.com lowered Axsome Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.57.

Hedge Funds Weigh In On Axsome Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Perceptive Advisors LLC raised its holdings in Axsome Therapeutics by 115.5% in the 4th quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock valued at $82,616,000 after acquiring an additional 556,370 shares during the last quarter. Sofinnova Investments Inc. acquired a new stake in shares of Axsome Therapeutics in the second quarter valued at approximately $24,971,000. Point72 Asset Management L.P. increased its holdings in shares of Axsome Therapeutics by 57.4% in the fourth quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock valued at $66,633,000 after purchasing an additional 305,264 shares during the last quarter. Tri Locum Partners LP lifted its position in Axsome Therapeutics by 198.4% during the second quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock worth $24,674,000 after buying an additional 203,802 shares in the last quarter. Finally, Norges Bank acquired a new position in Axsome Therapeutics during the fourth quarter worth $15,530,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company’s commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.