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Why Is Axsome (AXSM) Up 15.2% Since Last Earnings Report?
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A month has gone by since the last earnings report for Axsome Therapeutics (AXSM - Free Report) . Shares have added about 15.2% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Axsome due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
Axsome reported third-quarter 2020 loss per share of 58 cents, in line with the Zacks Consensus Estimate but wider than the year-ago quarter’s loss of 56 cents.
Axsome currently does not have any approved product in its portfolio. As a result, the company is yet to generate any revenues from the same.
Quarter in Detail
Research and development (R&D) expenses were $14.8 million in the quarter, down 6.3% from the year-ago period owing to completion of several studies on the pipeline candidates.
General and administrative (G&A) expenses were $6.3 million, significantly up year over year due to increased stock compensation expenses and commercial costs.
As of Sep 30 2020, Axsome had cash worth $202.4 million compared with $190.7 million as of Jun 30, 2020. Management believes that its cash balance as of September-end along with a $225 million worth term-loan facility will be enough to fund its anticipated operations for at least through 2024.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates flatlined during the past month.
VGM Scores
At this time, Axsome has a subpar Growth Score of D, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Axsome has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.
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Why Is Axsome (AXSM) Up 15.2% Since Last Earnings Report?
A month has gone by since the last earnings report for Axsome Therapeutics (AXSM - Free Report) . Shares have added about 15.2% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Axsome due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
Axsome's Q3 Earnings Meet Estimates, Pipeline Progresses
Axsome reported third-quarter 2020 loss per share of 58 cents, in line with the Zacks Consensus Estimate but wider than the year-ago quarter’s loss of 56 cents.
Axsome currently does not have any approved product in its portfolio. As a result, the company is yet to generate any revenues from the same.
Quarter in Detail
Research and development (R&D) expenses were $14.8 million in the quarter, down 6.3% from the year-ago period owing to completion of several studies on the pipeline candidates.
General and administrative (G&A) expenses were $6.3 million, significantly up year over year due to increased stock compensation expenses and commercial costs.
As of Sep 30 2020, Axsome had cash worth $202.4 million compared with $190.7 million as of Jun 30, 2020. Management believes that its cash balance as of September-end along with a $225 million worth term-loan facility will be enough to fund its anticipated operations for at least through 2024.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates flatlined during the past month.
VGM Scores
At this time, Axsome has a subpar Growth Score of D, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Axsome has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.