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Axsome (AXSM) Soars 8.1%: Is Further Upside Left in the Stock?
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Axsome Therapeutics (AXSM - Free Report) shares rallied 8.1% in the last trading session to close at $80.91. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.9% loss over the past four weeks.
The surge in share prices is attributed to the company’s product revenues guidance. Axsome expects its eight products to generate up to $11.5 billion in revenues for 2023. The company also announced its intention to launch four new products by 2025.
This biopharmaceutical company is expected to post quarterly loss of $1.30 per share in its upcoming report, which represents a year-over-year change of -22.6%. Revenues are expected to be $39.67 million, up 349.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Axsome, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on AXSM going forward to see if this recent jump can turn into more strength down the road.
Axsome is part of the Zacks Medical - Biomedical and Genetics industry. Moderna (MRNA - Free Report) , another stock in the same industry, closed the last trading session 1.5% lower at $126.05. MRNA has returned 2.3% in the past month.
Moderna's consensus EPS estimate for the upcoming report has changed -5% over the past month to -$3.79. Compared to the company's year-ago EPS, this represents a change of -172.3%. Moderna currently boasts a Zacks Rank of #3 (Hold).
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Axsome (AXSM) Soars 8.1%: Is Further Upside Left in the Stock?
Axsome Therapeutics (AXSM - Free Report) shares rallied 8.1% in the last trading session to close at $80.91. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.9% loss over the past four weeks.
The surge in share prices is attributed to the company’s product revenues guidance. Axsome expects its eight products to generate up to $11.5 billion in revenues for 2023. The company also announced its intention to launch four new products by 2025.
This biopharmaceutical company is expected to post quarterly loss of $1.30 per share in its upcoming report, which represents a year-over-year change of -22.6%. Revenues are expected to be $39.67 million, up 349.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Axsome, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on AXSM going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Axsome is part of the Zacks Medical - Biomedical and Genetics industry. Moderna (MRNA - Free Report) , another stock in the same industry, closed the last trading session 1.5% lower at $126.05. MRNA has returned 2.3% in the past month.
Moderna's consensus EPS estimate for the upcoming report has changed -5% over the past month to -$3.79. Compared to the company's year-ago EPS, this represents a change of -172.3%. Moderna currently boasts a Zacks Rank of #3 (Hold).