Axsome Thera Down 2.13% To $63.75 After Earnings

Axsome Therapeutics Inc (AXSM) beat out earnings estimates for Q3 2023 this morning.



Revenues were downbeat at $0.00. Keep in mind that the revenues reported were on an adjusted basis, so they may not be directly comparable to estimates and prior periods.

The stock is down 2.13% to $63.75 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Axsome Thera has performed a little above average during the past few months. Before the report, Axsome Thera received a Long-Term Technical Rank by InvestorsObserver of 51, putting it in the top half of stocks. The firm set a 52-week high on June 22, 2023 at $91.29 and set a 52-week low on November 18, 2022 at $49.6.

Axsome Therapeutics Inc is a clinical-stage biopharmaceutical company. It is engaged in developing novel therapies for the management of the central nervous system, or CNS, disorders for which there are limited treatment options. Its pipeline products include AXS-05, AXS-07, AXS-12, and AXS-14.