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

Axsome Therapeutics (NASDAQ:AXSM) released its earnings results on Tuesday. The company reported ($1.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.04, Zacks reports. The business had revenue of $104.76 million for the quarter, compared to the consensus estimate of $98.71 million. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%. During the same period last year, the business earned ($1.32) earnings per share.

Axsome Therapeutics Trading Up 0.8 %

NASDAQ:AXSM traded up $0.78 during mid-day trading on Wednesday, hitting $100.27. The company had a trading volume of 532,611 shares, compared to its average volume of 617,845. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.40 and a current ratio of 2.48. Axsome Therapeutics has a fifty-two week low of $56.66 and a fifty-two week high of $105.00. The firm has a market cap of $4.76 billion, a P/E ratio of -15.82 and a beta of 1.26. The business’s fifty day moving average is $90.55 and its two-hundred day moving average is $83.95.

Insider Activity

In related news, Director Mark E. Saad sold 11,016 shares of Axsome Therapeutics stock in a transaction that occurred 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 transaction, the director now owns 10,002 shares of the company’s stock, valued at $913,282.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 22.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on AXSM shares. UBS Group lowered their price target on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $107.00 price target on shares of Axsome Therapeutics in a report on Monday, September 16th. Royal Bank of Canada upped their price objective on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Robert W. Baird lifted their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Bank of America upgraded Axsome Therapeutics from a “neutral” rating to a “buy” rating and increased their price target for the stock from $95.00 to $106.00 in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.93.

About Axsome Therapeutics

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.