Significant Stock Movement and Earnings Forecasts
Axsome Therapeutics (AXSM) saw its stock price jump by 20.2% in the last trading session, closing at $127.08. This increase was accompanied by high trading volume, indicating strong investor interest. Over the past four weeks, the stock has gained 32.1%.
Settlement with Teva Pharmaceuticals
The substantial rise in Axsome’s stock is attributed to the recent settlement agreement with Teva Pharmaceuticals concerning the Auvelity (dextromethorphan HBr – bupropion HCl) patent litigation. This agreement resolves the patent disputes arising from Teva’s submission of an abbreviated new drug application to the FDA for a generic version of Auvelity before the expiration of relevant patents.
Upcoming Earnings Report
Looking ahead, Axsome is expected to report a quarterly loss of $0.97 per share, which marks a 32.9% decrease year-over-year. Revenue estimates stand at $117.84 million, reflecting an impressive year-over-year increase of 64.7%.
Analyzing Stock Strength Through Earnings Estimates
The trends in earnings estimate revisions can provide insights into a stock’s potential performance. For Axsome, the consensus EPS estimate has been adjusted 1.6% lower in the last 30 days. Typically, such downward trends in earnings estimates do not correlate with price increases. Investors should closely monitor AXSM to see if this recent surge can sustain momentum.
Current Market Standing
Axsome currently holds a Zacks Rank of #3 (Hold). Investors can find a complete list of today’s Zacks Rank #1 (Strong Buy) stocks by following the link provided.
Industry Comparison: Arcturus Therapeutics
In the same biomedical sector, Arcturus Therapeutics (ARCT) closed last trading session down 0.5% at $16.11, with a -10% return over the last month. The consensus EPS estimate for Arcturus has improved by 20.2% in the past month to -$0.34, which is a 6.3% decline compared to last year. Arcturus also holds a Zacks Rank of #3 (Hold).
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Axsome Therapeutics, Inc. (AXSM): Free Stock Analysis Report
Arcturus Therapeutics Holdings Inc. (ARCT): Free Stock Analysis Report
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
