Axsome Therapeutics (AXSM) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Axsome Therapeutics (NASDAQ:AXSM) issued its quarterly earnings results on Friday. The company reported ($0.31) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.02, MarketWatch Earnings reports.

NASDAQ:AXSM traded down $0.05 during trading hours on Friday, hitting $3.87. The company had a trading volume of 448,120 shares, compared to its average volume of 336,109. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 0.74. The stock has a market cap of $102.91 million, a P/E ratio of -3.12 and a beta of -0.51. Axsome Therapeutics has a 1 year low of $2.05 and a 1 year high of $5.95.

An institutional investor recently raised its position in Axsome Therapeutics stock. Alethea Capital Management LLC raised its stake in Axsome Therapeutics Inc (NASDAQ:AXSM) by 132.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 270,823 shares of the company’s stock after buying an additional 154,323 shares during the quarter. Axsome Therapeutics makes up approximately 1.5% of Alethea Capital Management LLC’s investment portfolio, making the stock its 12th largest position. Alethea Capital Management LLC owned about 1.05% of Axsome Therapeutics worth $867,000 as of its most recent filing with the Securities & Exchange Commission. 16.70% of the stock is currently owned by institutional investors.

Several brokerages recently commented on AXSM. ValuEngine upgraded Axsome Therapeutics from a “hold” rating to a “buy” rating in a research report on Wednesday. HC Wainwright set a $10.00 price target on Axsome Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, October 24th. LADENBURG THALM/SH SH set a $5.00 price target on Axsome Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, October 17th. Finally, Zacks Investment Research cut Axsome Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $10.10.

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Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc, a clinical stage biopharmaceutical company, is developing novel therapies for central nervous system (CNS) disorders. Its product candidate portfolio includes AXS-05, AXS-09, AXS-02, AXS-07, and AXS-06. AXS-05 is in the Phase III clinical trial in treatment resistant depression and in agitation associated with Alzheimer's disease, as well as in the Phase II clinical trial for smoking cessation.

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Earnings History for Axsome Therapeutics (NASDAQ:AXSM)

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