Axsome Therapeutics (NASDAQ:AXSM) Shares Down 3.3%

Axsome Therapeutics, Inc. (NASDAQ:AXSM) shares dropped 3.3% on Monday . The stock traded as low as $92.63 and last traded at $92.63. Approximately 20,463 shares were traded during trading, a decline of 97% from the average daily volume of 650,163 shares. The stock had previously closed at $95.84.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Mizuho reiterated a “buy” rating and set a $106.00 price target on shares of Axsome Therapeutics in a research report on Wednesday, June 12th. Royal Bank of Canada decreased their target price on Axsome Therapeutics from $131.00 to $130.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 price target on shares of Axsome Therapeutics in a research report on Monday, September 16th. HC Wainwright reissued a “buy” rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Finally, Wells Fargo & Company began coverage on shares of Axsome Therapeutics in a research report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 target price for the company. One investment analyst has rated the stock with a sell rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Axsome Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $124.57.

Axsome Therapeutics Stock Down 5.0 %

The firm has a market cap of $4.33 billion, a price-to-earnings ratio of -15.02 and a beta of 1.25. The company has a quick ratio of 2.40, a current ratio of 2.48 and a debt-to-equity ratio of 1.77. The firm has a fifty day moving average price of $87.93 and a 200-day moving average price of $79.67.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Monday, August 5th. The company reported ($1.24) EPS for the quarter, beating the consensus estimate of ($1.30) by $0.06. The company had revenue of $87.17 million during the quarter, compared to analysts’ expectations of $84.53 million. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%. As a group, sell-side analysts forecast that Axsome Therapeutics, Inc. will post -4.73 EPS for the current year.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 47,739 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the completion of the sale, the chief operating officer now directly owns 5,783 shares in the company, valued at $487,275.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Axsome Therapeutics news, COO Mark L. Jacobson sold 47,739 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the completion of the sale, the chief operating officer now directly owns 5,783 shares in the company, valued at $487,275.58. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark E. Saad sold 11,016 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the completion of the sale, the director now directly owns 10,002 shares of the company’s stock, valued at approximately $913,282.62. The disclosure for this sale can be found here. 22.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AXSM. Principal Financial Group Inc. raised its holdings in shares of Axsome Therapeutics by 1.3% during the 4th quarter. Principal Financial Group Inc. now owns 9,497 shares of the company’s stock valued at $756,000 after buying an additional 120 shares during the period. CIBC Private Wealth Group LLC lifted its position in shares of Axsome Therapeutics by 0.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 17,999 shares of the company’s stock worth $1,433,000 after purchasing an additional 135 shares in the last quarter. Natixis lifted its position in shares of Axsome Therapeutics by 13.6% during the first quarter. Natixis now owns 1,235 shares of the company’s stock worth $99,000 after purchasing an additional 148 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Axsome Therapeutics by 2.1% in the second quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock valued at $695,000 after purchasing an additional 177 shares during the period. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in Axsome Therapeutics during the 2nd quarter valued at $27,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

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.