Axsome Therapeutics (NASDAQ:AXSM) Announces Earnings Results, Misses Expectations By $0.15 EPS

Axsome Therapeutics (NASDAQ:AXSM) released its quarterly earnings results on Thursday. The company reported ($0.56) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.41) by ($0.15), Fidelity Earnings reports.

Shares of NASDAQ AXSM traded up $2.19 during midday trading on Friday, hitting $25.46. The stock had a trading volume of 738,300 shares, compared to its average volume of 1,457,869. The company has a debt-to-equity ratio of 0.72, a current ratio of 4.18 and a quick ratio of 4.18. The company’s 50-day simple moving average is $22.15 and its 200 day simple moving average is $23.50. The firm has a market cap of $889.38 million, a P/E ratio of -22.14 and a beta of 2.61. Axsome Therapeutics has a fifty-two week low of $1.94 and a fifty-two week high of $30.50.

In related news, CFO Nick Pizzie bought 2,180 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were acquired at an average price of $24.80 per share, with a total value of $54,064.00. Following the completion of the transaction, the chief financial officer now owns 40,440 shares in the company, valued at $1,002,912. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 27.50% of the stock is currently owned by insiders.

A number of equities research analysts recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Axsome Therapeutics in a report on Thursday, October 17th. Zacks Investment Research raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, October 7th. ValuEngine raised Axsome Therapeutics from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. William Blair initiated coverage on Axsome Therapeutics in a research note on Wednesday, September 18th. They issued an “outperform” rating and a $48.00 target price for the company. Finally, Guggenheim initiated coverage on Axsome Therapeutics in a research note on Wednesday, October 16th. They issued a “buy” rating and a $48.00 target price for the company. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Axsome Therapeutics presently has a consensus rating of “Buy” and an average price target of $35.13.

About Axsome Therapeutics

Axsome Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in developing novel therapies for central nervous system (CNS) disorders in the United States. Its product pipeline includes AXS-05, which is in the Phase III clinical trial for the treatment resistant depression; Phase II/III clinical trials in agitation associated with Alzheimer's disease; and Phase II clinical trial for the treatment of smoking cessation, as well as for major depressive disorder.

Further Reading: Gross Domestic Product (GDP)

Earnings History for Axsome Therapeutics (NASDAQ:AXSM)

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