Axsome Therapeutics (NASDAQ:AXSM) Issues Earnings Results

Axsome Therapeutics (NASDAQ:AXSM) announced its quarterly earnings data on Tuesday. The company reported ($0.96) EPS for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01, Zacks reports. The firm had revenue of $118.77 million during the quarter, compared to analysts’ expectations of $117.83 million. 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 $126.96 on Thursday. The stock has a 50-day moving average price of $99.64 and a 200-day moving average price of $94.22. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $134.18. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. The stock has a market capitalization of $6.15 billion, a P/E ratio of -19.44 and a beta of 1.05.

Analyst Ratings Changes

AXSM has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on Axsome Therapeutics from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft initiated coverage on Axsome Therapeutics in a research report on Tuesday, February 11th. They set a “buy” rating and a $176.00 target price on the stock. Truist Financial lifted their target price on Axsome Therapeutics from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday. Bank of America lifted their target price on Axsome Therapeutics from $143.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, Royal Bank of Canada lifted their price target on Axsome Therapeutics from $143.00 to $192.00 and gave the stock an “outperform” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $154.80.

Insider Transactions at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares in the company, valued at $5,529,450.09. This represents a 6.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 22.40% of the company’s stock.

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.