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

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

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $97.37 on Friday. The company has a market capitalization of $4.62 billion, a P/E ratio of -14.96 and a beta of 1.26. Axsome Therapeutics has a 52 week low of $56.66 and a 52 week high of $105.00. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.40 and a current ratio of 2.44. The company’s 50 day moving average price is $90.59 and its two-hundred day moving average price is $84.05.

Analysts Set New Price Targets

AXSM has been the subject of a number of research reports. Royal Bank of Canada raised their target price on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Bank of America upgraded shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and upped their target price for the stock from $95.00 to $106.00 in a research report on Tuesday, August 6th. Robert W. Baird boosted their price objective on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $180.00 price target on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price target on shares of Axsome Therapeutics in a report on Tuesday. One research analyst has rated the stock with a sell rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Axsome Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $124.93.

Insider Buying and Selling

In other news, Director Mark E. Saad sold 11,016 shares of the firm’s 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 completion of the transaction, the director now directly owns 10,002 shares of the company’s stock, valued at $913,282.62. This trade represents a 52.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 22.40% of the stock is currently owned by company insiders.

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.