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

Axsome Therapeutics (NASDAQ:AXSM) announced its quarterly earnings results on Tuesday. The company reported ($1.34) earnings per share for the quarter, beating the consensus estimate of ($1.38) by $0.04, Zacks reports. Axsome Therapeutics had a negative net margin of 105.85% and a negative return on equity of 117.46%. The company had revenue of $104.76 million during the quarter, compared to the consensus estimate of $98.71 million. During the same quarter last year, the firm earned ($1.32) earnings per share.

Axsome Therapeutics Price Performance

Axsome Therapeutics stock traded up $1.55 during midday trading on Wednesday, reaching $101.04. The company had a trading volume of 482,721 shares, compared to its average volume of 617,618. The firm’s fifty day simple moving average is $90.55 and its 200-day simple moving average is $83.95. Axsome Therapeutics has a 12-month low of $56.66 and a 12-month high of $105.00. The company has a market capitalization of $4.80 billion, a P/E ratio of -15.82 and a beta of 1.26. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.48 and a quick ratio of 2.40.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AXSM. Cantor Fitzgerald reissued an “overweight” rating and issued a $107.00 target price on shares of Axsome Therapeutics in a report on Monday, September 16th. Bank of America raised Axsome Therapeutics from a “neutral” rating to a “buy” rating and raised their price target for the stock from $95.00 to $106.00 in a research note on Tuesday, August 6th. StockNews.com downgraded shares of Axsome Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday. Wells Fargo & Company began coverage on Axsome Therapeutics in a research report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price objective for the company. Finally, Robert W. Baird upped 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. One investment analyst has rated the stock with a sell rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $124.93.

Insider Transactions 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 value of $1,005,870.96. Following the transaction, the director now owns 10,002 shares in the company, valued at approximately $913,282.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate 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.