Axsome Therapeutics (NASDAQ:AXSM) CFO Nick Pizzie Sells 33,000 Shares

Axsome Therapeutics, Inc. (NASDAQ:AXSM) CFO Nick Pizzie sold 33,000 shares of Axsome Therapeutics stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the completion of the transaction, the chief financial officer directly owned 42,867 shares of the company’s stock, valued at $10,291,938.03. This trade represents a 43.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Axsome Therapeutics Stock Up 4.5%

Shares of Axsome Therapeutics stock opened at $245.64 on Wednesday. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.32 and a current ratio of 1.39. The stock has a market capitalization of $12.64 billion, a PE ratio of -65.86 and a beta of 0.61. Axsome Therapeutics, Inc. has a 52-week low of $96.09 and a 52-week high of $246.41. The company has a 50-day simple moving average of $205.86 and a two-hundred day simple moving average of $179.97.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.41). The firm had revenue of $191.20 million during the quarter, compared to analysts’ expectations of $191.10 million. Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The firm’s revenue was up 57.4% compared to the same quarter last year. On average, analysts anticipate that Axsome Therapeutics, Inc. will post -2.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on AXSM shares. Robert W. Baird lifted their target price on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Royal Bank Of Canada lifted their price target on shares of Axsome Therapeutics from $242.00 to $302.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Truist Financial upgraded shares of Axsome Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Wolfe Research assumed coverage on shares of Axsome Therapeutics in a research note on Monday, February 23rd. They issued an “outperform” rating and a $230.00 price target for the company. Finally, Jefferies Financial Group lifted their price target on shares of Axsome Therapeutics from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Axsome Therapeutics has an average rating of “Moderate Buy” and an average price target of $251.26.

Institutional Trading of Axsome Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kemnay Advisory Services Inc. purchased a new stake in Axsome Therapeutics during the fourth quarter valued at approximately $31,000. Hollencrest Capital Management increased its stake in shares of Axsome Therapeutics by 400.0% in the 1st quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock worth $34,000 after purchasing an additional 160 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in shares of Axsome Therapeutics in the 4th quarter worth $37,000. GAMMA Investing LLC increased its stake in shares of Axsome Therapeutics by 65.4% in the 4th quarter. GAMMA Investing LLC now owns 268 shares of the company’s stock worth $49,000 after purchasing an additional 106 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of Axsome Therapeutics by 602.6% in the 4th quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock worth $50,000 after purchasing an additional 235 shares in the last quarter. 81.49% of the stock is owned by hedge funds and other institutional investors.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.