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

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) issued its quarterly earnings data 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. The business had revenue of $118.77 million for the quarter, compared to analysts' expectations of $117.83 million. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%.

Axsome Therapeutics Trading Up 6.7 %

AXSM stock traded up $8.65 during midday trading on Friday, reaching $137.75. The company's stock had a trading volume of 1,539,189 shares, compared to its average volume of 1,103,887. Axsome Therapeutics has a 1 year low of $64.11 and a 1 year high of $139.13. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.37 and a current ratio of 2.11. The stock has a fifty day simple moving average of $101.29 and a two-hundred day simple moving average of $94.84. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of -23.00 and a beta of 1.05.

Analyst Upgrades and Downgrades

AXSM has been the topic of several recent research reports. Robert W. Baird upped their price objective on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Wells Fargo & Company increased their price target on Axsome Therapeutics from $140.00 to $160.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Royal Bank of Canada increased their price target on Axsome Therapeutics from $143.00 to $192.00 and gave the company an "outperform" rating in a report on Wednesday. William Blair restated an "outperform" rating on shares of Axsome Therapeutics in a report on Tuesday. Finally, Needham & Company LLC increased their price target on Axsome Therapeutics from $133.00 to $153.00 and gave the company a "buy" rating in a report on Wednesday. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Axsome Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $155.47.

Insider Transactions at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the transaction, the chief financial officer now owns 42,187 shares of the company's stock, valued at approximately $5,529,450.09. This represents a 6.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 22.40% of the company's stock.

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.