Axsome Therapeutics (NASDAQ:AXSM) Posts Earnings Results

Axsome Therapeutics (NASDAQ:AXSM) released its quarterly earnings results on Monday. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.10), FiscalAI reports. The company had revenue of $218.38 million for the quarter, compared to the consensus estimate of $221.11 million. Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.

Axsome Therapeutics Stock Performance

Axsome Therapeutics stock opened at $212.74 on Monday. Axsome Therapeutics has a 52 week low of $102.67 and a 52 week high of $260.19. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.32 and a current ratio of 1.39. The firm has a market capitalization of $10.95 billion, a PE ratio of -57.03 and a beta of 0.65. The business’s 50-day simple moving average is $236.95 and its 200-day simple moving average is $204.15.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, Director Susan Mahony sold 300 shares of Axsome Therapeutics stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total value of $71,163.00. Following the transaction, the director directly owned 1,129 shares of the company’s stock, valued at $267,810.09. The trade was a 20.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mark Coleman sold 643 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $249.00, for a total value of $160,107.00. Following the completion of the transaction, the director directly owned 30,389 shares in the company, valued at approximately $7,566,861. This represents a 2.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 200,766 shares of company stock worth $46,685,646. Insiders own 20.60% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of AXSM. Kemnay Advisory Services Inc. acquired a new position in Axsome Therapeutics during the 4th quarter valued at $31,000. Ameriflex Group Inc. acquired a new stake in Axsome Therapeutics in the 4th quarter worth $37,000. Advisory Services Network LLC bought a new position in shares of Axsome Therapeutics during the 3rd quarter worth about $40,000. Johnson Financial Group Inc. bought a new position in shares of Axsome Therapeutics during the 3rd quarter worth about $61,000. Finally, Strive Financial Group LLC acquired a new position in shares of Axsome Therapeutics during the fourth quarter valued at about $62,000. Institutional investors own 81.49% of the company’s stock.

Analysts Set New Price Targets

AXSM has been the topic of a number of recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $272.00 price objective on shares of Axsome Therapeutics in a research note on Monday, May 4th. Oppenheimer set a $280.00 target price on Axsome Therapeutics in a research report on Monday, May 4th. Guggenheim increased their price target on Axsome Therapeutics from $245.00 to $260.00 and gave the company a “buy” rating in a report on Monday, May 4th. Zacks Research lowered shares of Axsome Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Monday, July 20th. Finally, BMO Capital Markets initiated coverage on shares of Axsome Therapeutics in a research note on Monday, July 20th. They issued an “outperform” rating and a $310.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $265.55.

About Axsome Therapeutics

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.