Axsome Therapeutics (NASDAQ:AXSM) Director Purchases $200,466.00 in Stock

Key Points

• Director Investment: Mark Coleman, a director at Axsome Therapeutics, purchased 1,575 shares of the company at $127.28 each, totaling $200,466, increasing his ownership by 3.38%.
• Recent Price Movements: The stock traded down $3.61 to $125.68 on Tuesday, with a market cap of $6.27 billion and a 52-week range between $75.56 and $139.13.
• Earnings Report: Axsome reported a loss of ($0.92) EPS, surpassing estimates, and generated $150.04 million in revenue for the quarter, exceeding analyst predictions.

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) Director Mark Coleman acquired 1,575 shares of the company's stock in a transaction dated Monday, September 8th. The shares were acquired at an average cost of $127.28 per share, with a total value of $200,466.00. Following the completion of the purchase, the director owned 48,212 shares in the company, valued at approximately $6,136,423.36. This represents a 3.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Axsome Therapeutics Price Performance

Shares of AXSM traded down $3.61 during mid-day trading on Tuesday, reaching $125.68. 794,585 shares of the company's stock were exchanged, compared to its average volume of 542,929. The company has a 50-day simple moving average of $111.18 and a two-hundred day simple moving average of $110.83. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 1.66. The company has a market cap of $6.27 billion, a price-to-earnings ratio of -24.79 and a beta of 0.54. Axsome Therapeutics, Inc. has a 52-week low of $75.56 and a 52-week high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported ($0.92) EPS for the quarter, topping the consensus estimate of ($1.00) by $0.08. Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. The firm had revenue of $150.04 million during the quarter, compared to analyst estimates of $140.02 million. On average, sell-side analysts predict that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Analysts Set New Price Targets

AXSM has been the subject of several recent research reports. Cantor Fitzgerald raised Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, May 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $150.00 target price on shares of Axsome Therapeutics in a research report on Monday, August 4th. Bank of America boosted their price target on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Morgan Stanley began coverage on shares of Axsome Therapeutics in a report on Thursday, July 3rd. They set an "overweight" rating and a $190.00 price target for the company. Finally, Wells Fargo & Company raised shares of Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $177.86.

Institutional Trading of Axsome Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Cetera Investment Advisers raised its holdings in Axsome Therapeutics by 19.5% during the fourth quarter. Cetera Investment Advisers now owns 7,109 shares of the company's stock worth $601,000 after purchasing an additional 1,160 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Axsome Therapeutics by 37.4% during the 4th quarter. Deutsche Bank AG now owns 120,547 shares of the company's stock valued at $10,199,000 after purchasing an additional 32,789 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of Axsome Therapeutics by 525.7% in the 4th quarter. Lazard Asset Management LLC now owns 537,669 shares of the company's stock worth $45,492,000 after purchasing an additional 451,737 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Axsome Therapeutics by 4.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,921 shares of the company's stock valued at $1,770,000 after purchasing an additional 986 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in Axsome Therapeutics by 118.1% during the fourth quarter. Nuveen Asset Management LLC now owns 221,202 shares of the company's stock worth $18,716,000 after buying an additional 119,780 shares in the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

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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