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

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

Axsome Therapeutics Stock Down 0.5 %

AXSM stock opened at $97.37 on Friday. The business’s 50-day simple moving average is $90.59 and its 200 day simple moving average is $84.05. The company has a quick ratio of 2.40, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. The company has a market cap of $4.62 billion, a PE ratio of -14.96 and a beta of 1.26. Axsome Therapeutics has a twelve month low of $56.66 and a twelve month high of $105.00.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AXSM shares. Bank of America raised Axsome Therapeutics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $95.00 to $106.00 in a research note on Tuesday, August 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $107.00 target price on shares of Axsome Therapeutics in a research note on Monday, September 16th. Wells Fargo & Company assumed coverage on Axsome Therapeutics in a research note on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $180.00 price target on shares of Axsome Therapeutics in a research report on Thursday, September 5th. Finally, StockNews.com downgraded shares of Axsome Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $124.93.

Insiders Place Their Bets

In related news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total value of $1,005,870.96. Following the completion of the transaction, the director now owns 10,002 shares of the company’s stock, valued at $913,282.62. This represents a 52.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 22.40% of the company’s stock.

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.