Axsome Therapeutics (NASDAQ:AXSM) Trading Down 3.1% – Should You Sell?

Axsome Therapeutics, Inc. (NASDAQ:AXSM)’s share price traded down 3.1% during trading on Friday . The company traded as low as $88.35 and last traded at $88.38. 136,339 shares were traded during mid-day trading, a decline of 79% from the average session volume of 638,745 shares. The stock had previously closed at $91.18.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. HC Wainwright reissued a “buy” rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Bank of America raised Axsome Therapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $95.00 to $106.00 in a research note on Tuesday, August 6th. Mizuho reissued a “buy” rating and issued a $106.00 price objective on shares of Axsome Therapeutics in a research note on Wednesday, June 12th. UBS Group reduced their price objective on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $124.64.

Axsome Therapeutics Stock Down 5.0 %

The business has a fifty day moving average of $89.04 and a 200 day moving average of $80.88. The firm has a market cap of $4.11 billion, a P/E ratio of -13.57 and a beta of 1.26. The company has a quick ratio of 2.40, a current ratio of 2.48 and a debt-to-equity ratio of 1.77.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Monday, August 5th. The company reported ($1.24) EPS for the quarter, beating analysts’ consensus estimates of ($1.30) by $0.06. The business had revenue of $87.17 million during the quarter, compared to the consensus estimate of $84.53 million. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%. On average, equities research analysts predict that Axsome Therapeutics, Inc. will post -4.73 EPS for the current year.

Insider Activity at Axsome Therapeutics

In related news, COO Mark L. Jacobson sold 47,739 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $84.26, for a total value of $4,022,488.14. Following the completion of the sale, the chief operating officer now owns 5,783 shares in the company, valued at approximately $487,275.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction dated 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 directly owns 10,002 shares in the company, valued at $913,282.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Mark L. Jacobson sold 47,739 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $84.26, for a total value of $4,022,488.14. Following the completion of the sale, the chief operating officer now owns 5,783 shares of the company’s stock, valued at $487,275.58. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Axsome Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock worth $298,474,000 after acquiring an additional 43,512 shares in the last quarter. Perceptive Advisors LLC increased its holdings in shares of Axsome Therapeutics by 115.5% in the fourth quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock worth $82,616,000 after acquiring an additional 556,370 shares in the last quarter. 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 worth $66,633,000 after acquiring an additional 305,264 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Axsome Therapeutics by 1.4% in the second quarter. Millennium Management LLC now owns 739,819 shares of the company’s stock worth $59,555,000 after acquiring an additional 10,401 shares in the last quarter. Finally, Bellevue Group AG increased its holdings in shares of Axsome Therapeutics by 7.9% in the first quarter. Bellevue Group AG now owns 685,476 shares of the company’s stock worth $54,701,000 after acquiring an additional 50,104 shares in the last quarter. 81.49% of the stock is currently owned by 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.