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

Axsome Therapeutics (NASDAQ:AXSM) issued its quarterly earnings results on Tuesday. The company reported ($1.34) EPS for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.04, Zacks reports. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%. The company had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. During the same quarter in the previous year, the firm posted ($1.32) EPS.

Axsome Therapeutics Price Performance

Shares of Axsome Therapeutics stock traded up $0.11 during mid-day trading on Wednesday, reaching $99.60. 559,623 shares of the stock traded hands, compared to its average volume of 617,968. Axsome Therapeutics has a fifty-two week low of $56.66 and a fifty-two week high of $105.00. The company has a quick ratio of 2.40, a current ratio of 2.48 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $4.73 billion, a PE ratio of -15.82 and a beta of 1.26. The business has a 50-day moving average of $90.55 and a 200 day moving average of $83.95.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Royal Bank of Canada lifted their price target on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 price target on shares of Axsome Therapeutics in a research report on Tuesday. HC Wainwright reissued a “buy” rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a report on Thursday, September 5th. Bank of America raised Axsome Therapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $95.00 to $106.00 in a report on Tuesday, August 6th. Finally, StockNews.com cut Axsome Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Axsome Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $124.93.

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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 22.40% of the company’s stock.

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.