Axsome Therapeutics (NASDAQ:AXSM) Shares Up 5.6% on Better-Than-Expected Earnings

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) traded up 5.6% on Monday following a better than expected earnings announcement. The stock traded as high as $117.60 and last traded at $118.54. 231,459 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 683,737 shares. The stock had previously closed at $112.21.

• 5 medical stocks growing earnings by triple digits

The company reported ($0.80) EPS for the quarter, beating analysts' consensus estimates of ($1.23) by $0.43. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%.

Analyst Upgrades and Downgrades

AXSM has been the subject of a number of research reports. William Blair restated an "outperform" rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. HC Wainwright reaffirmed a "buy" rating and issued a $200.00 target price on shares of Axsome Therapeutics in a research report on Thursday, April 3rd. Cantor Fitzgerald restated an "overweight" rating and issued a $153.00 price target on shares of Axsome Therapeutics in a research note on Wednesday, February 19th. Royal Bank of Canada boosted their target price on shares of Axsome Therapeutics from $190.00 to $193.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Finally, Truist Financial lifted their price objective on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $169.87.

• Struggling Axsome Stock Could Bounce Back on Drug Trial Success

View Our Latest Stock Report on Axsome Therapeutics

Insiders Place Their Bets

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the transaction, the chief financial officer now owns 42,187 shares in the company, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 22.40% of the company's stock.

Institutional Trading of Axsome Therapeutics

• Why this is an Awesome Time to Buy Axsome Therapeutics

A number of institutional investors have recently bought and sold shares of the company. Edgestream Partners L.P. bought a new stake in shares of Axsome Therapeutics during the 1st quarter valued at about $8,174,000. New York State Common Retirement Fund lifted its position in shares of Axsome Therapeutics by 49.3% during the 1st quarter. New York State Common Retirement Fund now owns 33,581 shares of the company's stock valued at $3,917,000 after acquiring an additional 11,090 shares during the period. Mutual of America Capital Management LLC boosted its stake in Axsome Therapeutics by 0.3% during the first quarter. Mutual of America Capital Management LLC now owns 39,623 shares of the company's stock worth $4,621,000 after acquiring an additional 136 shares in the last quarter. Xponance Inc. increased its position in Axsome Therapeutics by 8.7% in the 1st quarter. Xponance Inc. now owns 2,891 shares of the company's stock valued at $337,000 after buying an additional 232 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of Axsome Therapeutics by 15.5% during the first quarter. Cerity Partners LLC now owns 5,707 shares of the company's stock valued at $666,000 after acquiring an additional 766 shares in the last quarter. Institutional investors own 81.49% of the company's stock.

Axsome Therapeutics Stock Performance

The stock has a market cap of $5.80 billion, a price-to-earnings ratio of -19.64 and a beta of 0.46. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04. The company's fifty day simple moving average is $113.58 and its two-hundred day simple moving average is $104.02.

About Axsome Therapeutics

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company's commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.

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