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

Axsome Therapeutics (NASDAQ:AXSM) released its earnings results on Monday. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.38, FiscalAI reports. The company 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 Stock Performance

Shares of AXSM opened at $144.43 on Monday. Axsome Therapeutics has a fifty-two week low of $123.50 and a fifty-two week high of $260.19. The business has a 50-day moving average of $184.76 and a 200 day moving average of $198.93. The firm 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 debt-to-equity ratio of 1.52, a quick ratio of 1.34 and a current ratio of 1.43.

Analyst Upgrades and Downgrades

AXSM has been the subject of a number of research analyst reports. UBS Group restated a “buy” rating on shares of Axsome Therapeutics in a report on Monday, August 24th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Axsome Therapeutics from $280.00 to $267.00 and set a “buy” rating on the stock in a research note on Tuesday, September 29th. Mizuho increased their target price on shares of Axsome Therapeutics from $306.00 to $316.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Truist Financial raised their price target on shares of Axsome Therapeutics from $200.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, September 23rd. Finally, Piper Sandler lowered their price target on shares of Axsome Therapeutics from $258.00 to $238.00 and set an “overweight” rating on the stock in a report on Monday, October 26th. 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 assigned a Sell rating to the company. According to data from MarketBeat, Axsome Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $274.68.

Insider Activity

In other news, CEO Herriot Tabuteau sold 4,660 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $213.95, for a total value of $997,007.00. Following the sale, the chief executive officer owned 7,229 shares of the company’s stock, valued at $1,546,644.55. The trade was a 39.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Mark L. Jacobson sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $208.65, for a total transaction of $2,086,500.00. Following the completion of the sale, the chief operating officer directly owned 10,000 shares in the company, valued at approximately $2,086,500. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 59,664 shares of company stock worth $12,624,805. Insiders own 20.60% of the company’s stock.

Axsome Therapeutics Company Profile

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.