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

Axsome Therapeutics (NASDAQ:AXSM) posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $98.71 million. Axsome Therapeutics had a negative net margin of 105.85% and a negative return on equity of 117.46%. During the same period in the previous year, the firm posted ($1.32) EPS.

Axsome Therapeutics Stock Performance

AXSM stock traded up $0.78 during mid-day trading on Wednesday, hitting $100.27. 532,611 shares of the company were exchanged, compared to its average volume of 617,845. Axsome Therapeutics has a 1-year low of $56.66 and a 1-year high of $105.00. The stock has a market capitalization of $4.76 billion, a PE ratio of -15.82 and a beta of 1.26. The business has a 50 day simple moving average of $90.55 and a 200-day simple moving average of $83.95. The company has a current ratio of 2.48, a quick ratio of 2.40 and a debt-to-equity ratio of 1.77.

Insider Activity

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the 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 owns 10,002 shares in the company, valued at $913,282.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Bank of America raised Axsome Therapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $95.00 to $106.00 in a research report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 price target on shares of Axsome Therapeutics in a research note on Tuesday. StockNews.com cut shares of Axsome Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday. Robert W. Baird lifted their price target on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Royal Bank of Canada increased their price objective on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating and fourteen have given a buy rating to the stock. According to MarketBeat, Axsome Therapeutics 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.