Axsome Therapeutics Inc (NASDAQ:AXSM) on Monday posted downbeat results for the second quarter.

The company reported quarterly losses of 99 cents per share which missed the analyst consensus estimate of losses of 83 cents per share. The company reported quarterly sales of $218.400 million which missed the analyst consensus estimate of $221.230 million.

“The second quarter was highly productive for Axsome. Our commercial business grew robustly, driven by strong underlying demand for our products, and we made important regulatory and clinical progress across our innovative neuroscience pipeline,” said Herriot Tabuteau, MD, Chief Executive Officer of Axsome Therapeutics. “We expect our commercial momentum to build over the balance of the year, in particular with anticipated continued Auvelity growth in Alzheimer’s disease agitation and major depressive disorder. With a focus on commercial execution and advancement of our broad late-stage neuroscience pipeline targeting high unmet needs, novel indications, first-in-class mechanisms of action, and best-in-class product profiles, Axsome is well positioned to deliver substantial value to patients and shareholders.”

Axsome Therapeutics shares rose 0.1% to trade at $220.93 on Tuesday.

These analysts made changes to their price targets on Axsome Therapeutics following earnings announcement.

  • Needham analyst Ami Fadia maintained the stock with a Buy and raised the price target from $267 to $268.
  • Wells Fargo analyst Benjamin Burnett maintained the stock with an Overweight rating and raised the price target from $255 to $256.
  • Guggenheim analyst Yatin Suneja maintained the stock with a Buy and raised the price target from $260 to $275.

Considering buying AXSM stock? Here’s what analysts think:

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