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

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

Axsome Therapeutics Trading Down 0.6 %

Shares of NASDAQ:AXSM traded down $0.54 during mid-day trading on Thursday, hitting $97.29. The company had a trading volume of 53,047 shares, compared to its average volume of 618,424. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.40. Axsome Therapeutics has a one year low of $56.66 and a one year high of $105.00. The firm has a fifty day moving average price of $90.59 and a 200 day moving average price of $84.05. The company has a market capitalization of $4.62 billion, a PE ratio of -14.98 and a beta of 1.26.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the transaction, the director now directly owns 10,002 shares in the company, valued at approximately $913,282.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 22.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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