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

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) issued its earnings results on Monday. The company reported ($0.80) earnings per share for the quarter, topping analysts' consensus estimates of ($1.26) by $0.46, Zacks reports. The business had revenue of $121.46 million for the quarter, compared to the consensus estimate 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 Price Performance

Axsome Therapeutics stock traded down $1.10 during mid-day trading on Friday, reaching $107.76. 435,267 shares of the company were exchanged, compared to its average volume of 682,018. The firm has a market cap of $5.31 billion, a PE ratio of -17.99 and a beta of 0.46. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04. The company has a fifty day simple moving average of $112.01 and a 200-day simple moving average of $104.51. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $139.13.

Insider Activity

In related news, CFO Nick Pizzie sold 3,000 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $131.07, for a total value 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. The trade was a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 22.30% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on AXSM shares. HC Wainwright reduced their price target on Axsome Therapeutics from $200.00 to $180.00 and set a "buy" rating for the company in a report on Wednesday. William Blair reissued an "outperform" rating on shares of Axsome Therapeutics in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft started coverage on Axsome Therapeutics in a report on Tuesday, February 11th. They set a "buy" rating and a $176.00 price target for the company. Needham & Company LLC reissued a "buy" rating and issued a $153.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, April 1st. Finally, Jefferies Financial Group began coverage on shares of Axsome Therapeutics in a research note on Monday, April 7th. They issued a "buy" rating and a $200.00 price target on the stock. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat, Axsome Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price 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.