Axsome Therapeutics (NASDAQ:AXSM) Posts Quarterly Earnings Results, Beats Expectations By $0.16 EPS

Axsome Therapeutics (NASDAQ:AXSM) posted its quarterly earnings data on Monday. The company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.16, Briefing.com reports. Axsome Therapeutics had a negative net margin of 40.90% and a negative return on equity of 277.31%. The company had revenue of $196.00 million during the quarter, compared to analyst estimates of $191.33 million. Axsome Therapeutics’s revenue was up 65.0% compared to the same quarter last year.

Axsome Therapeutics Trading Down 1.3%

Shares of Axsome Therapeutics stock opened at $183.72 on Monday. Axsome Therapeutics has a fifty-two week low of $86.99 and a fifty-two week high of $191.50. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.50 and a current ratio of 1.57. The company has a market cap of $9.26 billion, a P/E ratio of -39.34, a price-to-earnings-growth ratio of 13.22 and a beta of 0.40. The firm has a 50-day simple moving average of $173.88 and a two-hundred day simple moving average of $144.44.

Analysts Set New Price Targets

AXSM has been the subject of several research reports. Needham & Company LLC reissued a “buy” rating and issued a $225.00 price target on shares of Axsome Therapeutics in a research report on Monday. Wells Fargo & Company lifted their target price on Axsome Therapeutics from $157.00 to $193.00 and gave the company an “overweight” rating in a research note on Tuesday, January 13th. Royal Bank Of Canada increased their price target on shares of Axsome Therapeutics from $212.00 to $219.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. TD Cowen restated a “buy” rating on shares of Axsome Therapeutics in a report on Thursday, January 29th. Finally, HC Wainwright lifted their price objective on shares of Axsome Therapeutics from $200.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Sixteen investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $216.07.

Insider Activity at Axsome Therapeutics

In related news, insider Ari Maizel sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $184.44, for a total value of $1,383,300.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mark E. Saad sold 37,577 shares of the stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $165.18, for a total value of $6,206,968.86. Following the transaction, the director directly owned 10,002 shares of the company’s stock, valued at $1,652,130.36. The trade was a 78.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 308,874 shares of company stock worth $51,390,805 over the last 90 days. 22.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Axsome Therapeutics by 45.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock valued at $275,763,000 after buying an additional 472,422 shares during the period. Wellington Management Group LLP grew its position in Axsome Therapeutics by 84.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock valued at $162,082,000 after acquiring an additional 609,516 shares in the last quarter. Invesco Ltd. increased its stake in Axsome Therapeutics by 28.6% during the fourth quarter. Invesco Ltd. now owns 1,273,494 shares of the company’s stock worth $232,591,000 after purchasing an additional 282,937 shares during the period. State Street Corp lifted its position in shares of Axsome Therapeutics by 5.8% during the second quarter. State Street Corp now owns 958,503 shares of the company’s stock worth $100,058,000 after purchasing an additional 52,483 shares in the last quarter. Finally, Deep Track Capital LP boosted its stake in shares of Axsome Therapeutics by 12.3% in the third quarter. Deep Track Capital LP now owns 900,000 shares of the company’s stock valued at $109,305,000 after purchasing an additional 98,629 shares during the period. Institutional investors and hedge funds own 81.49% of the company’s stock.

Axsome Therapeutics Company Profile

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.