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

Axsome Therapeutics (NASDAQ:AXSM) posted its quarterly 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 return on equity of 158.36% and a negative net margin of 91.87%.

Axsome Therapeutics Price Performance

AXSM opened at $131.15 on Tuesday. The company has a market capitalization of $6.36 billion, a price-to-earnings ratio of -20.08 and a beta of 1.05. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $134.18. The business’s fifty day simple moving average is $98.47 and its 200-day simple moving average is $93.68.

Wall Street Analyst Weigh In

Several research analysts have issued reports on AXSM shares. Leerink Partners lifted their target price on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. Bank of America boosted their price target on Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. William Blair reiterated an “outperform” rating on shares of Axsome Therapeutics in a research note on Friday, January 24th. Cantor Fitzgerald restated an “overweight” rating and set a $121.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Axsome Therapeutics in a research report on Tuesday, February 11th. They issued a “buy” rating and a $176.00 target price for the company. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $147.13.

Insider Activity at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of the 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 transaction, the chief financial officer now directly owns 42,187 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. 22.40% of the stock is currently owned by corporate insiders.

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.