Herriot Tabuteau Sells 49,670 Shares of Axsome Therapeutics (NASDAQ:AXSM) Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) CEO Herriot Tabuteau sold 49,670 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $241.01, for a total transaction of $11,970,966.70. Following the transaction, the chief executive officer owned 7,229 shares of the company’s stock, valued at approximately $1,742,261.29. This trade represents a 87.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Axsome Therapeutics Stock Up 0.3%

AXSM opened at $246.34 on Thursday. Axsome Therapeutics, Inc. has a twelve month low of $96.09 and a twelve month high of $256.00. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27. The company has a 50-day moving average price of $207.58 and a 200 day moving average price of $180.70. The company has a market cap of $12.68 billion, a PE ratio of -66.04 and a beta of 0.61.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.41). Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The company had revenue of $191.20 million for the quarter, compared to analyst estimates of $191.10 million. The business’s revenue was up 57.4% on a year-over-year basis. Sell-side analysts expect that Axsome Therapeutics, Inc. will post -2.24 earnings per share for the current fiscal year.

Institutional Trading of Axsome Therapeutics

Several hedge funds have recently made changes to their positions in AXSM. Wellington Management Group LLP grew its stake in shares of Axsome Therapeutics by 84.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock valued at $162,082,000 after buying an additional 609,516 shares during the period. First Trust Advisors LP grew its stake in shares of Axsome Therapeutics by 1,230.2% in the 1st quarter. First Trust Advisors LP now owns 577,479 shares of the company’s stock valued at $97,606,000 after buying an additional 534,066 shares during the period. Norges Bank purchased a new stake in shares of Axsome Therapeutics in the 4th quarter valued at approximately $90,490,000. Price T Rowe Associates Inc. MD grew its stake in shares of Axsome Therapeutics by 45.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock valued at $275,763,000 after buying an additional 472,422 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Axsome Therapeutics by 73.3% in the 3rd quarter. Invesco Ltd. now owns 990,557 shares of the company’s stock valued at $120,303,000 after buying an additional 419,008 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on AXSM. Guggenheim upped their price objective on shares of Axsome Therapeutics from $245.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, May 4th. UBS Group upped their price objective on shares of Axsome Therapeutics from $251.00 to $259.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Piper Sandler reaffirmed an “overweight” rating and set a $258.00 price objective on shares of Axsome Therapeutics in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft set a $280.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, May 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $251.26.

About Axsome Therapeutics

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.