Axsome Therapeutics (NASDAQ:AXSM) Posts Earnings Results, Beats Expectations By $0.01 EPS

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) released its earnings results on Tuesday. The company reported ($0.96) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.01, Zacks reports. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The business had revenue of $118.77 million for the quarter, compared to analysts' expectations of $117.83 million.

Axsome Therapeutics Stock Up 6.7 %

Shares of AXSM traded up $8.65 during mid-day trading on Friday, reaching $137.75. 1,539,189 shares of the stock traded hands, compared to its average volume of 1,103,887. The firm has a market cap of $6.72 billion, a price-to-earnings ratio of -23.00 and a beta of 1.05. The stock has a fifty day simple moving average of $101.29 and a 200 day simple moving average of $94.84. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $139.13. The company has a quick ratio of 2.37, a current ratio of 2.11 and a debt-to-equity ratio of 3.22.

Insider Activity

In other news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the sale, the chief financial officer now owns 42,187 shares in the company, valued at $5,529,450.09. This trade represents a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 22.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AXSM shares. Mizuho raised their target price on shares of Axsome Therapeutics from $137.00 to $195.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 11th. Cantor Fitzgerald reissued an "overweight" rating and issued a $153.00 target price on shares of Axsome Therapeutics in a research report on Wednesday. Bank of America raised their target price on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. StockNews.com raised shares of Axsome Therapeutics from a "sell" rating to a "hold" rating in a research report on Wednesday, November 20th. Finally, HC Wainwright raised their price target on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the company a "buy" rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $155.47.

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.