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

Axsome Therapeutics (NASDAQ:AXSM) released its earnings results on Tuesday. The company reported ($1.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.04, Zacks reports. The firm had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same period in the prior year, the firm earned ($1.32) earnings per share.

Axsome Therapeutics Stock Down 0.6 %

Shares of NASDAQ:AXSM traded down $0.54 on Thursday, reaching $97.29. The company had a trading volume of 53,047 shares, compared to its average volume of 618,424. The stock has a market capitalization of $4.62 billion, a P/E ratio of -14.98 and a beta of 1.26. The stock has a 50-day moving average price of $90.59 and a 200 day moving average price of $84.05. Axsome Therapeutics has a twelve month low of $56.66 and a twelve month high of $105.00. The company has a quick ratio of 2.40, a current ratio of 2.44 and a debt-to-equity ratio of 1.97.

Insiders Place Their Bets

In other news, Director Mark E. Saad sold 11,016 shares of Axsome Therapeutics stock in a transaction dated 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 sale, the director now directly owns 10,002 shares in the company, valued at approximately $913,282.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 22.40% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AXSM. Bank of America raised Axsome Therapeutics from a “neutral” rating to a “buy” rating and upped their price target for the company from $95.00 to $106.00 in a report on Tuesday, August 6th. Needham & Company LLC restated a “buy” rating and issued a $130.00 price target on shares of Axsome Therapeutics in a research report on Tuesday. StockNews.com lowered Axsome Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday. Wells Fargo & Company started coverage on shares of Axsome Therapeutics in a research report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price objective on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $107.00 price objective on shares of Axsome Therapeutics in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.