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Hunter R. Murdock, General Counsel at Axsome Therapeutics, Inc. (NASDAQ:AXSM), sold a total of 22,500 shares of common stock for approximately $2.28 million, between June 16 and June 18, 2025. The sales were executed at weighted average prices ranging from $100.26 to $102.42. The transaction comes as the $5.07 billion market cap company trades near InvestingPro’s Fair Value, with the stock up over 21% year-to-date.
On the same dates, Murdock exercised options to acquire 22,500 shares of Axsome Therapeutics common stock at a price of $29.91 per share, for a total value of $672,975. The company maintains impressive gross profit margins of 91.5%, with analysts setting price targets between $146 and $210.
All transactions were executed under a pre-approved 10b5-1 trading plan. For deeper insights into AXSM’s valuation and financial health metrics, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Axsome Therapeutics has faced a setback as the U.S. Food and Drug Administration (FDA) issued a Refusal to File (RTF) letter for its New Drug Application (NDA) for AXS-14, intended for fibromyalgia treatment. The FDA determined that one of the two trials included in the submission was inadequate due to its design, specifically its 8-week primary endpoint and flexible-dose paradigm. Despite the setback, both trials met their primary endpoints, and the FDA did not express concerns about the trial results themselves. In response, Axsome plans to conduct an additional controlled trial with a fixed-dose paradigm and a 12-week primary endpoint, expected to start in the fourth quarter of 2025.
Analysts from Piper Sandler, H.C. Wainwright, and Oppenheimer have weighed in on the situation, maintaining their positive outlooks on Axsome’s stock. Piper Sandler reiterated an Overweight rating with a $148 price target, while H.C. Wainwright maintained a Buy rating and a $180 price target, viewing the FDA’s feedback as constructive. Oppenheimer, while slightly lowering its price target from $185 to $183, kept an Outperform rating, believing the market had not significantly valued AXS-14. The focus for Axsome is expected to shift back to its other products, such as Auvelity and the upcoming Symbravo launch. Despite the delay, Axsome remains committed to advancing AXS-14 towards potential approval, addressing the unmet needs of fibromyalgia patients.
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