Axsome Therapeutics (NASDAQ:AXSM) Releases Earnings Results, Beats Expectations By $0.04 EPS

Axsome Therapeutics (NASDAQ:AXSM) posted its quarterly earnings results on Tuesday. The company reported ($1.34) earnings per share for the quarter, beating the consensus estimate of ($1.38) by $0.04, Zacks reports. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The firm had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. During the same period in the previous year, the firm earned ($1.32) earnings per share.

Axsome Therapeutics Trading Down 0.5 %

Shares of AXSM traded down $0.46 during mid-day trading on Thursday, reaching $97.37. The stock had a trading volume of 651,974 shares, compared to its average volume of 621,649. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.40. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of -14.96 and a beta of 1.26. The business’s fifty day moving average is $90.59 and its 200 day moving average is $84.05. Axsome Therapeutics has a 52-week low of $56.66 and a 52-week high of $105.00.

Insiders Place Their Bets

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the sale, the director now directly owns 10,002 shares in the company, valued at approximately $913,282.62. The trade was a 52.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 22.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AXSM. Royal Bank of Canada increased their target price on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. HC Wainwright reaffirmed a “buy” rating and set a $180.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Robert W. Baird lifted their price target on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 target price on shares of Axsome Therapeutics in a research report on Monday, September 16th. Finally, Wells Fargo & Company started coverage on Axsome Therapeutics in a report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price target for the company. One analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $124.93.

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.