Axsome Therapeutics (NASDAQ:AXSM) Director Sells $1,665,227.52 in Stock

Key Points

• Axsome Therapeutics Director Roger Jeffs sold $1.67 million in stock, reducing his position by 18.97% to 57,510 shares.
• The company's stock price has shown volatility, with a 52-week low of $75.56 and a high of $139.13, currently trading around $123.47 after a 1.8% increase.
• Analysts hold a positive outlook on Axsome Therapeutics, with multiple firms reaffirming "buy" ratings and target prices ranging from $150 to $190 per share.

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) Director Roger Jeffs sold 13,464 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $123.68, for a total value of $1,665,227.52. Following the transaction, the director directly owned 57,510 shares of the company's stock, valued at approximately $7,112,836.80. The trade was a 18.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Roger Jeffs also recently made the following trade(s):

• On Thursday, August 28th, Roger Jeffs sold 20,000 shares of Axsome Therapeutics stock. The stock was sold at an average price of $121.60, for a total value of $2,432,000.00.
• On Tuesday, August 26th, Roger Jeffs sold 20,000 shares of Axsome Therapeutics stock. The stock was sold at an average price of $120.03, for a total value of $2,400,600.00.
• On Friday, August 22nd, Roger Jeffs sold 16,694 shares of Axsome Therapeutics stock. The stock was sold at an average price of $120.08, for a total value of $2,004,615.52.

Axsome Therapeutics Price Performance

NASDAQ AXSM traded up $0.76 during trading on Friday, hitting $125.17. 506,617 shares of the company's stock were exchanged, compared to its average volume of 510,939. The company has a market cap of $6.25 billion, a PE ratio of -24.69 and a beta of 0.54. The company has a current ratio of 1.57, a quick ratio of 1.51 and a debt-to-equity ratio of 1.66. The stock's 50 day moving average price is $110.23 and its two-hundred day moving average price is $111.02. Axsome Therapeutics, Inc. has a fifty-two week low of $75.56 and a fifty-two week high of $139.13.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Royal Bank Of Canada boosted their price target on Axsome Therapeutics from $184.00 to $189.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. HC Wainwright restated a "buy" rating and set a $180.00 price target on shares of Axsome Therapeutics in a report on Tuesday, June 10th. Wells Fargo & Company upgraded Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday. Oppenheimer assumed coverage on Axsome Therapeutics in a report on Tuesday, June 3rd. They set an "outperform" rating and a $185.00 price target on the stock. Finally, Morgan Stanley started coverage on Axsome Therapeutics in a report on Thursday, July 3rd. They set an "overweight" rating and a $190.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company. According to data from MarketBeat, Axsome Therapeutics presently has a consensus rating of "Buy" and an average target price of $177.86.

Institutional Trading of Axsome Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. BVF Inc. IL boosted its holdings in shares of Axsome Therapeutics by 21.8% during the 1st quarter. BVF Inc. IL now owns 1,690,221 shares of the company's stock worth $197,130,000 after buying an additional 302,157 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Axsome Therapeutics by 5.8% during the 2nd quarter. Geode Capital Management LLC now owns 989,453 shares of the company's stock worth $103,303,000 after buying an additional 54,600 shares in the last quarter. State Street Corp boosted its holdings in shares of Axsome Therapeutics by 5.8% during the 2nd quarter. State Street Corp now owns 958,503 shares of the company's stock worth $100,058,000 after buying an additional 52,483 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Axsome Therapeutics by 23.8% during the 1st quarter. Invesco Ltd. now owns 857,001 shares of the company's stock worth $99,952,000 after buying an additional 164,537 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Axsome Therapeutics by 41.1% during the 2nd quarter. Bank of America Corp DE now owns 753,429 shares of the company's stock worth $78,650,000 after buying an additional 219,527 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.