Axsome Therapeutics (NASDAQ:AXSM) Issues Earnings Results, Misses Estimates By $0.41 EPS

Axsome Therapeutics (NASDAQ:AXSM) released its quarterly earnings data on Monday. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.41), FiscalAI reports. Axsome Therapeutics had a negative net margin of 28.69% and a negative return on equity of 232.61%. The business had revenue of $191.20 million during the quarter, compared to the consensus estimate of $191.22 million.

Axsome Therapeutics Stock Performance

Axsome Therapeutics stock opened at $206.53 on Monday. The business has a 50-day simple moving average of $170.95 and a two-hundred day simple moving average of $162.68. The company has a market cap of $10.62 billion, a P/E ratio of -55.97 and a beta of 0.59. Axsome Therapeutics has a 52-week low of $96.09 and a 52-week high of $217.00. The company has a quick ratio of 1.48, a current ratio of 1.55 and a debt-to-equity ratio of 1.38.

Insider Transactions at Axsome Therapeutics

In related news, COO Mark L. Jacobson sold 35,378 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $161.88, for a total transaction of $5,726,990.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ari Maizel sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $182.42, for a total transaction of $1,368,150.00. Following the sale, the insider directly owned 7,500 shares of the company’s stock, valued at approximately $1,368,150. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 67,878 shares of company stock worth $11,122,891 in the last quarter. Company insiders own 20.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Kemnay Advisory Services Inc. bought a new stake in shares of Axsome Therapeutics during the 4th quarter valued at $31,000. Ameriflex Group Inc. bought a new position in Axsome Therapeutics in the 4th quarter worth $37,000. Advisory Services Network LLC bought a new position in Axsome Therapeutics in the 3rd quarter worth $40,000. Johnson Financial Group Inc. purchased a new position in Axsome Therapeutics during the third quarter valued at $61,000. Finally, Strive Financial Group LLC purchased a new position in Axsome Therapeutics during the fourth quarter valued at $62,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Key Axsome Therapeutics News

Here are the key news stories impacting Axsome Therapeutics this week:

• Positive Sentiment: FDA approved AUVELITY (dextromethorphan HBr and bupropion HCl) to treat agitation associated with dementia due to Alzheimer’s — a first-in-class approval that creates a new commercial opportunity and expands Axsome’s Alzheimer’s franchise. US FDA approves Axsome’s drug for Alzheimer’s-related agitation
• Positive Sentiment: Company press release confirms the FDA approval and outlines AUVELITY’s novel NMDA and sigma-1 receptor mechanism; this is the basis for near-term commercialization planning and upcoming investor outreach. Axsome Therapeutics Announces FDA Approval of AUVELITY
• Positive Sentiment: Needham & Company raised its price target from $225 to $255 and initiated/maintained a Buy rating, implying ~23.5% upside from the referenced price — a supportive analyst view that can attract investor interest. Needham raises price target on Axsome
• Neutral Sentiment: Axsome hosted a virtual investor event and conference call to discuss the FDA approval and provide expert commentary — useful for details on label, launch timing and commercial strategy but not immediately transformative by itself. Axsome Hosts AUVELITY FDA Approval Investor Event
• Neutral Sentiment: Trading in AXSM was temporarily halted ahead of the announcement (news pending) — a procedural sign of material news flow but not an indicator of direction by itself. Trading halt around AXSM news

Analysts Set New Price Targets

Several research analysts have recently weighed in on AXSM shares. TD Cowen restated a “buy” rating on shares of Axsome Therapeutics in a research note on Friday. Mizuho set a $230.00 price objective on Axsome Therapeutics in a research report on Thursday, February 19th. Robert W. Baird set a $209.00 price objective on Axsome Therapeutics in a report on Tuesday, January 13th. HC Wainwright boosted their target price on Axsome Therapeutics from $200.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Finally, Morgan Stanley set a $217.00 target price on shares of Axsome Therapeutics in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $222.18.

About Axsome Therapeutics

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.