Axsome Therapeutics (NASDAQ:AXSM) Trading Down 6.5%

Axsome Therapeutics Inc (NASDAQ:AXSM)’s share price was down 6.5% during trading on Wednesday . The company traded as low as $22.23 and last traded at $22.43. Approximately 1,129,559 shares were traded during trading, a decline of 40% from the average daily volume of 1,884,788 shares. The stock had previously closed at $23.98.

A number of equities research analysts recently commented on AXSM shares. Cantor Fitzgerald lifted their price objective on Axsome Therapeutics from $16.00 to $25.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. SunTrust Banks started coverage on Axsome Therapeutics in a research note on Tuesday, May 28th. They set a “buy” rating for the company. BidaskClub cut Axsome Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Sunday, March 3rd. HC Wainwright set a $15.00 price objective on Axsome Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Finally, Svb Leerink started coverage on Axsome Therapeutics in a research note on Monday, April 8th. They set an “outperform” rating and a $25.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $30.83.

The company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $799.44 million, a PE ratio of -19.50 and a beta of 2.78. The business’s 50 day moving average price is $22.99.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Thursday, May 9th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.01). As a group, sell-side analysts expect that Axsome Therapeutics Inc will post -1.29 EPS for the current year.

In other news, CFO Nick Pizzie acquired 1,920 shares of Axsome Therapeutics stock in a transaction dated Tuesday, June 11th. The stock was bought at an average cost of $20.80 per share, with a total value of $39,936.00. Following the completion of the transaction, the chief financial officer now directly owns 1,920 shares of the company’s stock, valued at $39,936. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark E. Saad acquired 3,500 shares of Axsome Therapeutics stock in a transaction dated Thursday, May 23rd. The shares were purchased at an average cost of $22.33 per share, with a total value of $78,155.00. Following the completion of the transaction, the director now directly owns 7,002 shares of the company’s stock, valued at $156,354.66. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 10,070 shares of company stock valued at $217,787. Insiders own 27.50% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Focused Wealth Management Inc acquired a new position in shares of Axsome Therapeutics during the first quarter worth about $64,000. Millennium Management LLC acquired a new position in shares of Axsome Therapeutics during the fourth quarter worth about $871,000. EAM Global Investors LLC acquired a new position in shares of Axsome Therapeutics during the first quarter worth about $1,211,000. Barclays PLC acquired a new position in shares of Axsome Therapeutics during the fourth quarter worth about $30,000. Finally, BlackRock Inc. boosted its position in shares of Axsome Therapeutics by 14.6% during the fourth quarter. BlackRock Inc. now owns 64,049 shares of the company’s stock worth $181,000 after buying an additional 8,137 shares during the period. 44.22% of the stock is owned by institutional investors.

Axsome Therapeutics Company Profile (NASDAQ:AXSM)

Axsome Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in developing novel therapies for central nervous system (CNS) disorders in the United States. Its product pipeline includes AXS-05, which is in the Phase III clinical trial for the treatment resistant depression; Phase II/III clinical trials in agitation associated with Alzheimer's disease; and Phase II clinical trial for the treatment of smoking cessation, as well as for major depressive disorder.

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