Axsome Therapeutics (NASDAQ:AXSM) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Axsome Therapeutics (NASDAQ:AXSM – Get Rating) posted its quarterly earnings results on Monday. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.03), MarketWatch Earnings reports. During the same quarter last year, the business earned ($0.78) earnings per share.

Axsome Therapeutics stock opened at $34.04 on Tuesday. The company has a debt-to-equity ratio of 3.14, a quick ratio of 3.75 and a current ratio of 3.75. The stock has a fifty day moving average of $35.02 and a two-hundred day moving average of $34.52. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -9.81 and a beta of 2.47. Axsome Therapeutics has a fifty-two week low of $19.38 and a fifty-two week high of $74.10.

Several research firms have recently commented on AXSM. StockNews.com began coverage on Axsome Therapeutics in a report on Thursday, March 31st. They issued a “sell” rating for the company. Mizuho reduced their price target on Axsome Therapeutics from $51.00 to $49.00 in a report on Tuesday. SVB Leerink reduced their price target on Axsome Therapeutics from $65.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, March 2nd. Jefferies Financial Group raised their price objective on Axsome Therapeutics from $71.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday, March 29th. Finally, Zacks Investment Research downgraded Axsome Therapeutics from a “buy” rating to a “hold” rating and set a $32.00 price objective for the company. in a research note on Friday, March 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $80.58.

A number of institutional investors have recently added to or reduced their stakes in AXSM. Geode Capital Management LLC boosted its holdings in shares of Axsome Therapeutics by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 507,485 shares of the company’s stock worth $19,172,000 after purchasing an additional 16,055 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Axsome Therapeutics by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 207,230 shares of the company’s stock worth $7,830,000 after purchasing an additional 3,178 shares during the last quarter. Norges Bank acquired a new stake in shares of Axsome Therapeutics during the fourth quarter worth $7,266,000. Bank of New York Mellon Corp boosted its holdings in shares of Axsome Therapeutics by 5.9% during the third quarter. Bank of New York Mellon Corp now owns 146,406 shares of the company’s stock worth $4,827,000 after purchasing an additional 8,107 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Axsome Therapeutics by 83.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 80,050 shares of the company’s stock worth $3,024,000 after purchasing an additional 36,341 shares during the last quarter. 48.46% of the stock is owned by institutional investors.

About Axsome Therapeutics (Get Rating)

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 product pipeline includes AXS-05, a therapeutic for the treatment of major depressive disorder and resistant depression disorders; and that is in the Phase III clinical trial to treat Alzheimer's disease agitation, as well as that has completed phase II clinical trial for the treatment of smoking cessation.

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