Axsome Therapeutics (AXSM) Announces Earnings Results

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Axsome Therapeutics (NASDAQ:AXSM) announced its quarterly earnings results on Friday. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.02, MarketWatch Earnings reports.

NASDAQ:AXSM traded down $0.05 during trading hours on Friday, reaching $3.87. The company had a trading volume of 448,120 shares, compared to its average volume of 336,109. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $102.91 million, a PE ratio of -3.12 and a beta of -0.51. Axsome Therapeutics has a 1-year low of $2.05 and a 1-year high of $5.95.

A hedge fund recently raised its stake in Axsome Therapeutics stock. Alethea Capital Management LLC lifted its holdings in shares of Axsome Therapeutics Inc (NASDAQ:AXSM) by 102.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 547,443 shares of the company’s stock after buying an additional 276,620 shares during the quarter. Axsome Therapeutics makes up approximately 2.8% of Alethea Capital Management LLC’s investment portfolio, making the stock its 8th largest position. Alethea Capital Management LLC owned approximately 2.09% of Axsome Therapeutics worth $1,889,000 as of its most recent SEC filing. Institutional investors own 16.70% of the company’s stock.

A number of research analysts have issued reports on the company. ValuEngine raised Axsome Therapeutics from a “hold” rating to a “buy” rating in a report on Wednesday. HC Wainwright set a $10.00 price target on Axsome Therapeutics and gave the company a “buy” rating in a report on Wednesday, October 24th. LADENBURG THALM/SH SH set a $5.00 price target on Axsome Therapeutics and gave the company a “buy” rating in a report on Wednesday, October 17th. Finally, Zacks Investment Research downgraded Axsome Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $10.10.

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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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