William Blair Issues Pessimistic Estimate for AXSM Earnings

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Investment analysts at William Blair dropped their Q3 2024 earnings per share estimates for Axsome Therapeutics in a research note issued to investors on Tuesday, November 12th. William Blair analyst M. Minter now anticipates that the company will earn ($1.41) per share for the quarter, down from their previous forecast of ($1.30). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($5.12) per share. William Blair also issued estimates for Axsome Therapeutics’ Q4 2024 earnings at ($1.15) EPS, FY2024 earnings at ($4.80) EPS, Q1 2025 earnings at ($1.10) EPS, Q2 2025 earnings at ($0.66) EPS, Q3 2025 earnings at ($0.31) EPS, Q4 2025 earnings at $0.18 EPS and FY2025 earnings at ($1.88) EPS.

A number of other equities research analysts have also weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $130.00 target price on shares of Axsome Therapeutics in a research note on Tuesday. Royal Bank of Canada boosted their price objective on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. HC Wainwright restated a “buy” rating and issued a $180.00 target price on shares of Axsome Therapeutics in a report on Thursday, September 5th. StockNews.com lowered shares of Axsome Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Wells Fargo & Company initiated coverage on shares of Axsome Therapeutics in a report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price target on the stock. One analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $124.93.

Axsome Therapeutics Stock Performance

NASDAQ AXSM opened at $97.37 on Thursday. The company has a 50-day simple moving average of $90.59 and a two-hundred day simple moving average of $84.05. Axsome Therapeutics has a 12-month low of $56.66 and a 12-month high of $105.00. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of -14.96 and a beta of 1.26. The company has a quick ratio of 2.40, a current ratio of 2.44 and a debt-to-equity ratio of 1.97.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. The company had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same quarter in the prior year, the company earned ($1.32) EPS.

Institutional Trading of Axsome Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Janney Montgomery Scott LLC grew its holdings in shares of Axsome Therapeutics by 9.5% during the first quarter. Janney Montgomery Scott LLC now owns 5,780 shares of the company’s stock valued at $461,000 after buying an additional 500 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Axsome Therapeutics by 605.5% in the 1st quarter. SG Americas Securities LLC now owns 15,104 shares of the company’s stock worth $1,205,000 after purchasing an additional 12,963 shares in the last quarter. Sei Investments Co. raised its stake in shares of Axsome Therapeutics by 8.2% in the first quarter. Sei Investments Co. now owns 35,654 shares of the company’s stock worth $2,845,000 after purchasing an additional 2,697 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Axsome Therapeutics by 5,550.0% during the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock valued at $63,000 after purchasing an additional 777 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of Axsome Therapeutics by 9.0% during the first quarter. ProShare Advisors LLC now owns 9,724 shares of the company’s stock valued at $776,000 after buying an additional 800 shares during the last quarter. 81.49% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the completion of the transaction, the director now owns 10,002 shares of the company’s stock, valued at approximately $913,282.62. This trade represents a 52.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 22.40% of the company’s stock.

About Axsome Therapeutics

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company’s commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.