Aberdeen Group plc Cuts Position in Axsome Therapeutics, Inc. $AXSM

Key Points

• Aberdeen Group plc decreased its stake in Axsome Therapeutics by 11.4%, selling 8,225 shares, and now owns about 0.13% of the company, valued at $7.46 million.
• Analysts have generally rated Axsome Therapeutics positively, with a consensus target price of $178.00 and several firms issuing "buy" or "outperform" ratings.
• Despite recent insider selling, the stock has risen by 5.1%, with the company reporting a revenue of $150.04 million for the latest quarter, surpassing analysts' estimates.

Aberdeen Group plc lessened its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 11.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 63,954 shares of the company's stock after selling 8,225 shares during the period. Aberdeen Group plc owned 0.13% of Axsome Therapeutics worth $7,459,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Axsome Therapeutics during the 1st quarter valued at $25,000. NBC Securities Inc. bought a new stake in shares of Axsome Therapeutics during the 1st quarter valued at $31,000. Neo Ivy Capital Management bought a new stake in shares of Axsome Therapeutics during the 1st quarter valued at $41,000. Raiffeisen Bank International AG bought a new stake in shares of Axsome Therapeutics during the 4th quarter valued at $51,000. Finally, Aquatic Capital Management LLC bought a new stake in shares of Axsome Therapeutics during the 4th quarter valued at $76,000. Institutional investors own 81.49% of the company's stock.

Axsome Therapeutics Trading Down 1.6%

Axsome Therapeutics stock traded down $1.8680 during trading hours on Monday, hitting $116.6420. The company had a trading volume of 148,141 shares, compared to its average volume of 768,528. The firm has a market cap of $5.82 billion, a P/E ratio of -23.01 and a beta of 0.51. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.51 and a current ratio of 1.57. Axsome Therapeutics, Inc. has a 1 year low of $75.56 and a 1 year high of $139.13. The company has a 50-day moving average price of $106.36 and a two-hundred day moving average price of $111.17.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced 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 firm had revenue of $150.04 million during the quarter, compared to analysts' expectations of $140.02 million. Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. On average, sell-side analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Insider Activity at Axsome Therapeutics

In related news, General Counsel Hunter R. Murdock sold 6,014 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $100.12, for a total transaction of $602,121.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Coleman sold 3,750 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $105.47, for a total value of $395,512.50. Following the completion of the transaction, the director owned 50,387 shares of the company's stock, valued at $5,314,316.89. This trade represents a 6.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold 90,437 shares of company stock valued at $9,511,745 over the last 90 days. Insiders own 22.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AXSM. Robert W. Baird boosted their target price on Axsome Therapeutics from $160.00 to $162.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. HC Wainwright reiterated a "buy" rating and issued a $180.00 target price on shares of Axsome Therapeutics in a research report on Tuesday, June 10th. Wells Fargo & Company reiterated an "overweight" rating and issued a $165.00 target price (up from $160.00) on shares of Axsome Therapeutics in a research report on Tuesday, May 6th. Cantor Fitzgerald upgraded Axsome Therapeutics to a "strong-buy" rating in a research report on Wednesday, May 14th. Finally, Oppenheimer began coverage on Axsome Therapeutics in a research report on Tuesday, June 3rd. They issued an "outperform" rating and a $185.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. According to MarketBeat, Axsome Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $178.00.

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.