Axsome Therapeutics (NASDAQ:AXSM) COO Sells $1,159,600.00 in Stock

Key Points

• Axsome Therapeutics COO Mark Jacobson sold 10,000 shares of the company's stock for a total of $1,159,600 at an average price of $115.96 per share.
• The company's stock price increased by $1.54 to $117.49 following the transaction, with a trading volume of 525,915 shares, below its average volume of 752,306.
• Analysts have given Axsome Therapeutics a consensus rating of "Buy", with a price target averaging $177.86, reflecting positive outlooks from multiple research firms.

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) COO Mark Jacobson sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $115.96, for a total transaction of $1,159,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Axsome Therapeutics Stock Performance

AXSM traded up $1.54 on Monday, hitting $117.49. The company's stock had a trading volume of 525,915 shares, compared to its average volume of 752,306. The company's 50 day simple moving average is $112.88 and its 200-day simple moving average is $110.24. The firm has a market cap of $5.86 billion, a P/E ratio of -23.17 and a beta of 0.54. Axsome Therapeutics, Inc. has a 12 month low of $75.56 and a 12 month high of $139.13. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 1.66.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported ($0.92) EPS for the quarter, topping the consensus estimate of ($1.00) by $0.08. The company had revenue of $150.04 million during the quarter, compared to the consensus estimate of $140.02 million. Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. Analysts forecast that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Institutional Investors Weigh In On Axsome Therapeutics

A number of large investors have recently modified their holdings of AXSM. Assenagon Asset Management S.A. boosted its stake in shares of Axsome Therapeutics by 16,852.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 627,418 shares of the company's stock valued at $73,176,000 after purchasing an additional 623,717 shares in the last quarter. Norges Bank bought a new stake in shares of Axsome Therapeutics during the 2nd quarter valued at about $48,889,000. Nuveen LLC bought a new stake in shares of Axsome Therapeutics during the 1st quarter valued at about $48,185,000. Adage Capital Partners GP L.L.C. boosted its stake in Axsome Therapeutics by 831.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 447,000 shares of the company's stock worth $46,662,000 after acquiring an additional 399,000 shares in the last quarter. Finally, Hood River Capital Management LLC bought a new stake in Axsome Therapeutics during the second quarter worth about $38,740,000. Institutional investors own 81.49% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Morgan Stanley began coverage on shares of Axsome Therapeutics in a research report on Thursday, July 3rd. They issued an "overweight" rating and a $190.00 price objective on the stock. Needham & Company LLC restated a "buy" rating and set a $150.00 price objective on shares of Axsome Therapeutics in a research report on Monday, August 4th. Wells Fargo & Company raised shares of Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, September 3rd. Oppenheimer started coverage on Axsome Therapeutics in a research note on Tuesday, June 3rd. They issued an "outperform" rating and a $185.00 target price on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and set a $180.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $177.86.

About Axsome Therapeutics

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.

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