Axsome Therapeutics (NASDAQ:AXSM) Announces Earnings Results

Axsome Therapeutics (NASDAQ:AXSM) posted its quarterly earnings results on Tuesday. The company reported ($1.34) earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $98.71 million. During the same period last year, the firm earned ($1.32) earnings per share.

Axsome Therapeutics Price Performance

AXSM stock traded up $0.11 on Wednesday, reaching $99.60. The company had a trading volume of 559,623 shares, compared to its average volume of 617,968. Axsome Therapeutics has a 1 year low of $56.66 and a 1 year high of $105.00. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.40 and a current ratio of 2.48. The company’s fifty day moving average is $90.55 and its 200 day moving average is $83.95. The company has a market cap of $4.73 billion, a P/E ratio of -15.82 and a beta of 1.26.

Insider Activity at Axsome Therapeutics

In related news, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total value of $1,005,870.96. Following the sale, the director now owns 10,002 shares of the company’s stock, valued at approximately $913,282.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on AXSM. StockNews.com cut Axsome Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday. Robert W. Baird lifted their target price on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday. HC Wainwright reiterated a “buy” rating and set a $180.00 target price on shares of Axsome Therapeutics in a research report on Thursday, September 5th. Wells Fargo & Company began coverage on Axsome Therapeutics in a research report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 target price on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $130.00 target price on shares of Axsome Therapeutics 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. According to MarketBeat.com, Axsome Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $124.93.

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.