Axsome Therapeutics (NASDAQ:AXSM) Releases Earnings Results, Beats Expectations By $0.46 EPS

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) announced its quarterly earnings data on Monday. The company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.26) by $0.46, Zacks reports. The company had revenue of $121.46 million for the quarter, compared to analysts' expectations of $121.22 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%.

Axsome Therapeutics Trading Down 1.0 %

Shares of NASDAQ AXSM traded down $1.10 during midday trading on Friday, reaching $107.76. 435,267 shares of the stock were exchanged, compared to its average volume of 682,018. The stock has a 50 day moving average price of $112.01 and a 200-day moving average price of $104.51. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. The company has a market capitalization of $5.31 billion, a P/E ratio of -17.99 and a beta of 0.46. Axsome Therapeutics has a 52-week low of $64.11 and a 52-week high of $139.13.

Insider Activity at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the transaction, the chief financial officer now owns 42,187 shares of the company's stock, valued at $5,529,450.09. This represents a 6.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 22.30% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on AXSM. Bank of America raised their price objective on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft started coverage on Axsome Therapeutics in a report on Tuesday, February 11th. They issued a "buy" rating and a $176.00 price target for the company. Morgan Stanley upped their price objective on Axsome Therapeutics from $125.00 to $190.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. Leerink Partners raised their target price on Axsome Therapeutics from $110.00 to $150.00 and gave the company an "outperform" rating in a report on Monday, February 10th. Finally, William Blair reaffirmed an "outperform" rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $172.14.

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.