Axsome Therapeutics (NASDAQ:AXSM) Posts Earnings Results, Beats Estimates By $0.38 EPS

Axsome Therapeutics (NASDAQ:AXSM) posted its quarterly earnings data on Monday. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.38, FiscalAI reports. The firm had revenue of $259.69 million for the quarter, compared to analysts’ expectations of $249.19 million. Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%.

Axsome Therapeutics Price Performance

Shares of AXSM stock opened at $144.43 on Monday. The stock has a market cap of $7.57 billion, a P/E ratio of -38.51 and a beta of 0.86. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 1.52. The stock has a 50 day moving average of $184.76 and a 200 day moving average of $198.93. Axsome Therapeutics has a twelve month low of $123.50 and a twelve month high of $260.19.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Thursday, October 15th. Royal Bank Of Canada restated an “outperform” rating on shares of Axsome Therapeutics in a report on Wednesday, October 14th. Guggenheim upped their price target on shares of Axsome Therapeutics from $260.00 to $275.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Wells Fargo & Company raised their price target on shares of Axsome Therapeutics from $255.00 to $256.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Finally, BMO Capital Markets assumed coverage on shares of Axsome Therapeutics in a report on Monday, July 20th. They set an “outperform” rating and a $310.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $274.68.

Insiders Place Their Bets

In related news, CEO Herriot Tabuteau sold 4,660 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $213.95, for a total transaction of $997,007.00. Following the completion of the sale, the chief executive officer owned 7,229 shares of the company’s stock, valued at approximately $1,546,644.55. This represents a 39.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Mark L. Jacobson sold 10,000 shares of Axsome Therapeutics stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $208.65, for a total value of $2,086,500.00. Following the transaction, the chief operating officer owned 10,000 shares in the company, valued at approximately $2,086,500. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 59,664 shares of company stock worth $12,624,805 in the last three months. 20.60% of the stock is owned by corporate insiders.

About Axsome Therapeutics

Axsome Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for central nervous system (CNS) disorders. Founded in 2012 and headquartered in New York, the company develops medicines for conditions with significant unmet medical needs, including depression, narcolepsy, excessive daytime sleepiness, and other neurological disorders.

Axsome’s commercial products include Auvelity (dextromethorphan and bupropion), an oral treatment approved in the United States for major depressive disorder in adults, and Sunosi (solriamfetol), a therapy for excessive daytime sleepiness associated with narcolepsy or obstructive sleep apnea.