Axsome Therapeutics, Inc. (NASDAQ:AXSM) COO Sells $1,904,892.88 in Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSMGet Free Report) COO Mark L. Jacobson sold 24,662 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $77.24, for a total value of $1,904,892.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Axsome Therapeutics Price Performance

Axsome Therapeutics stock opened at $73.50 on Thursday. Axsome Therapeutics, Inc. has a 52 week low of $55.02 and a 52 week high of $98.40. The business has a 50-day simple moving average of $82.96 and a 200 day simple moving average of $75.24. The company has a quick ratio of 3.52, a current ratio of 3.63 and a debt-to-equity ratio of 0.93. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of -14.13 and a beta of 1.13.

Axsome Therapeutics (NASDAQ:AXSMGet Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.48. Axsome Therapeutics had a negative return on equity of 70.67% and a negative net margin of 88.41%. The firm had revenue of $71.53 million during the quarter, compared to analysts’ expectations of $70.38 million. On average, research analysts forecast that Axsome Therapeutics, Inc. will post -3.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Axsome Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. RTW Investments LP boosted its holdings in shares of Axsome Therapeutics by 4.8% in the 3rd quarter. RTW Investments LP now owns 4,489,596 shares of the company’s stock worth $313,778,000 after purchasing an additional 205,319 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Axsome Therapeutics by 11.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,111,500 shares of the company’s stock worth $138,835,000 after purchasing an additional 309,362 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Axsome Therapeutics by 10.3% in the 2nd quarter. BlackRock Inc. now owns 2,723,543 shares of the company’s stock worth $195,714,000 after purchasing an additional 255,319 shares in the last quarter. Perceptive Advisors LLC boosted its holdings in shares of Axsome Therapeutics by 115.5% in the 4th quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock worth $82,616,000 after purchasing an additional 556,370 shares in the last quarter. Finally, RA Capital Management L.P. purchased a new position in shares of Axsome Therapeutics in the 2nd quarter worth about $71,860,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AXSM. Guggenheim lifted their price target on Axsome Therapeutics from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $108.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, February 20th. Citigroup lifted their price target on Axsome Therapeutics from $125.00 to $127.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. Royal Bank of Canada lifted their price target on Axsome Therapeutics from $123.00 to $128.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Finally, HC Wainwright reiterated a “buy” rating and issued a $190.00 price target on shares of Axsome Therapeutics in a research report on Tuesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $119.75.

Check Out Our Latest Research Report on Axsome Therapeutics

Axsome Therapeutics Company Profile

(Get Free Report)

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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