Axsome Therapeutics (NASDAQ:AXSM) Posts Earnings Results, Beats Estimates By $0.01 EPS

Axsome Therapeutics (NASDAQ:AXSM) announced its quarterly earnings results on Tuesday. The company reported ($0.96) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.01, Zacks reports. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%.

Axsome Therapeutics Price Performance

AXSM stock opened at $128.09 on Wednesday. The firm has a 50 day moving average of $98.47 and a 200-day moving average of $93.68. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. The company has a market cap of $6.21 billion, a price-to-earnings ratio of -19.62 and a beta of 1.05. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $134.18.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Axsome Therapeutics from $140.00 to $160.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. William Blair reiterated an “outperform” rating on shares of Axsome Therapeutics in a report on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $121.00 target price on shares of Axsome Therapeutics in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft assumed coverage on Axsome Therapeutics in a research report on Tuesday, February 11th. They set a “buy” rating and a $176.00 target price on the stock. Finally, Truist Financial upped their target price on Axsome Therapeutics from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $148.47.

Insider Activity at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the transaction, the chief financial officer now directly owns 42,187 shares in the company, valued at approximately $5,529,450.09. This represents a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 22.40% of the stock is owned by corporate insiders.

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.