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In a recent transaction, Mark Jacobson, the Chief Operating Officer of Axsome Therapeutics, Inc. (NASDAQ:AXSM), sold a significant portion of his holdings in the company. On May 27 and 28, Jacobson sold a total of 40,673 shares, generating approximately $4.23 million. The sale prices for these transactions ranged between $103.45 and $104.66 per share. The company, currently valued at $5.07 billion, has demonstrated impressive revenue growth of 72% and maintains strong gross profit margins above 91%.
Jacobson’s transactions were part of a pre-approved 10b5-1 plan, which allows company insiders to set up a trading plan for selling stocks they own, adhering to insider trading regulations. Prior to these sales, Jacobson exercised stock options to acquire 40,673 shares at a price of $6.47 each, totaling $263,154. According to InvestingPro, which offers comprehensive analysis of 1,400+ stocks through detailed Pro Research Reports, the company currently trades below its Fair Value, suggesting potential upside opportunity.
Following these transactions, Jacobson’s direct ownership in Axsome Therapeutics decreased to 5,783 shares. The transactions highlight a strategic move by the executive to capitalize on the company’s current stock performance. Analysts maintain a strong buy consensus on the stock, with price targets ranging from $146 to $210 per share, reflecting confidence in the company’s growth trajectory despite current unprofitability.
In other recent news, Axsome Therapeutics reported its first-quarter 2025 earnings, posting a loss of $1.22 per share, which exceeded analyst expectations of a $1.30 loss. Revenue for the quarter was $121.46 million, slightly below the forecast of $121.58 million, but still reflecting a 62% year-over-year growth. The company has also secured a $570 million credit facility from Blackstone (NYSE:BX), aiming to enhance its financial flexibility and retire previous debt. Additionally, Axsome reached a settlement with Hetero Labs concerning a patent dispute over the drug SUNOSI, allowing Hetero to market a generic version starting in 2040, pending regulatory approval.
Analysts have been active with their ratings on Axsome. H.C. Wainwright maintained a Buy rating but lowered the price target from $200 to $180, citing higher-than-expected operating expenses. Meanwhile, BofA Securities increased its price target slightly to $176, also maintaining a Buy rating, noting strong prescription growth for Auvelity-MDD. The company is preparing for the launch of SYMBRAVO for migraines, which could drive future growth.
Axsome’s financial position remains robust, with $300.9 million in cash and equivalents, which is expected to support operations until the company reaches cash flow positivity. The company continues to focus on expanding its sales force and preparing for new marketing campaigns to support its growing portfolio of treatments. These developments highlight Axsome’s ongoing efforts to strengthen its market position and financial health.
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