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

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

Axsome Therapeutics Stock Up 0.3%

Axsome Therapeutics stock opened at $246.34 on Thursday. 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 business’s 50-day simple moving average is $207.58 and its two-hundred day simple moving average is $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, Inc. has a fifty-two week low of $96.09 and a fifty-two week high of $256.00.

Axsome Therapeutics (NASDAQ:AXSM) last posted 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). The firm had revenue of $191.20 million for the quarter, compared to analysts’ expectations of $191.10 million. Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The company’s revenue was up 57.4% on a year-over-year basis. Equities analysts anticipate that Axsome Therapeutics, Inc. will post -2.24 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Morgan Stanley boosted their price target on Axsome Therapeutics from $217.00 to $242.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 5th. Royal Bank Of Canada boosted their price objective on Axsome Therapeutics from $242.00 to $302.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $272.00 price objective on shares of Axsome Therapeutics in a report on Monday, May 4th. Wolfe Research started coverage on Axsome Therapeutics in a report on Monday, February 23rd. They issued an “outperform” rating and a $230.00 price objective for the company. Finally, Robert W. Baird boosted their price objective on Axsome Therapeutics from $241.00 to $246.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. One equities research 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $251.26.

Hedge Funds Weigh In On Axsome Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Axsome Therapeutics by 6.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company’s stock valued at $507,739,000 after buying an additional 235,626 shares during the period. Franklin Street Advisors Inc. NC acquired a new position in Axsome Therapeutics in the 4th quarter worth about $1,826,000. Aberdeen Group plc raised its holdings in Axsome Therapeutics by 15.5% in the 3rd quarter. Aberdeen Group plc now owns 94,648 shares of the company’s stock worth $11,495,000 after purchasing an additional 12,732 shares during the period. TD Asset Management Inc raised its holdings in Axsome Therapeutics by 107.7% in the 3rd quarter. TD Asset Management Inc now owns 44,192 shares of the company’s stock worth $5,367,000 after purchasing an additional 22,914 shares during the period. Finally, Pictet Asset Management Holding SA raised its holdings in Axsome Therapeutics by 20.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 436,063 shares of the company’s stock worth $79,643,000 after purchasing an additional 73,925 shares during the period. Institutional investors and hedge funds own 81.49% of the company’s stock.

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.