Axsome Therapeutics (AXSM) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Axsome Therapeutics (NASDAQ:AXSM) issued its earnings results on Thursday. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.01, MarketWatch Earnings reports.

Shares of NASDAQ:AXSM traded up $0.03 on Friday, reaching $10.74. The company’s stock had a trading volume of 16,575 shares, compared to its average volume of 2,634,489. Axsome Therapeutics has a 52-week low of $1.94 and a 52-week high of $10.89. The company has a debt-to-equity ratio of 6.00, a quick ratio of 1.46 and a current ratio of 1.46. The stock has a market capitalization of $302.90 million, a price-to-earnings ratio of -8.67 and a beta of 3.32.

A number of research firms have recently commented on AXSM. HC Wainwright restated a “buy” rating and set a $18.00 target price (up from $15.00) on shares of Axsome Therapeutics in a research report on Friday. They noted that the move was a valuation call. Cantor Fitzgerald lifted their price target on shares of Axsome Therapeutics from $13.00 to $16.00 and gave the company an “overweight” rating in a research report on Friday. BidaskClub raised shares of Axsome Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Friday. BTIG Research lifted their target price on shares of Axsome Therapeutics to $20.00 and gave the company a “buy” rating in a report on Tuesday, January 8th. Finally, ValuEngine upgraded shares of Axsome Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, January 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $24.75.

Large investors have recently made changes to their positions in the company. Sio Capital Management LLC raised its holdings in shares of Axsome Therapeutics by 115.5% in the third quarter. Sio Capital Management LLC now owns 416,458 shares of the company’s stock valued at $1,437,000 after buying an additional 223,168 shares during the last quarter. Worth Venture Partners LLC purchased a new position in Axsome Therapeutics during the third quarter worth about $138,000. Alethea Capital Management LLC raised its holdings in Axsome Therapeutics by 65.9% during the fourth quarter. Alethea Capital Management LLC now owns 908,429 shares of the company’s stock worth $2,562,000 after purchasing an additional 360,986 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Axsome Therapeutics during the fourth quarter worth about $98,000. Finally, BlackRock Inc. raised its holdings in Axsome Therapeutics by 14.6% during the fourth quarter. BlackRock Inc. now owns 64,049 shares of the company’s stock worth $181,000 after purchasing an additional 8,137 shares in the last quarter. 12.84% of the stock is owned by institutional investors and hedge funds.

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About Axsome Therapeutics

Axsome Therapeutics, Inc, a clinical stage biopharmaceutical company, is developing novel therapies for central nervous system (CNS) disorders. Its product candidate portfolio includes AXS-05, AXS-09, AXS-02, AXS-07, and AXS-06. AXS-05 is in the Phase III clinical trial in treatment resistant depression and in agitation associated with Alzheimer's disease, as well as in the Phase II clinical trial for smoking cessation.

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Earnings History for Axsome Therapeutics (NASDAQ:AXSM)

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