Research Analysts Set Expectations for AXSM FY2024 Earnings

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Stock analysts at HC Wainwright increased their FY2024 earnings per share (EPS) estimates for shares of Axsome Therapeutics in a research report issued on Monday, November 25th. HC Wainwright analyst R. Selvaraju now expects that the company will earn ($4.60) per share for the year, up from their prior forecast of ($5.25). HC Wainwright currently has a “Buy” rating and a $180.00 target price on the stock. The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($4.75) per share. HC Wainwright also issued estimates for Axsome Therapeutics’ Q4 2024 earnings at ($0.94) EPS, Q1 2025 earnings at ($0.81) EPS, Q2 2025 earnings at ($0.44) EPS, Q3 2025 earnings at $0.03 EPS, Q4 2025 earnings at $0.79 EPS and FY2025 earnings at ($0.41) EPS.

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

Several other research firms have also weighed in on AXSM. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Bank of America raised Axsome Therapeutics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $95.00 to $106.00 in a research report on Tuesday, August 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a research report on Monday, September 16th. Wells Fargo & Company initiated coverage on shares of Axsome Therapeutics in a research report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 target price on the stock. Finally, Robert W. Baird raised their price target on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $124.93.

Axsome Therapeutics Stock Up 2.7 %

AXSM opened at $99.65 on Wednesday. Axsome Therapeutics has a 1 year low of $64.11 and a 1 year high of $105.00. The firm has a 50 day moving average price of $91.48 and a 200 day moving average price of $85.67. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. The company has a market cap of $4.83 billion, a PE ratio of -15.26 and a beta of 1.26.

Insider Activity

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of Axsome Therapeutics stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total value 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 $913,282.62. The trade was a 52.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. acquired a new stake in Axsome Therapeutics in the second quarter worth $27,000. EntryPoint Capital LLC bought a new stake in Axsome Therapeutics in the 1st quarter valued at about $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Axsome Therapeutics during the 2nd quarter valued at about $47,000. Russell Investments Group Ltd. boosted its stake in Axsome Therapeutics by 5,550.0% during the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock valued at $63,000 after purchasing an additional 777 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Axsome Therapeutics by 22.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock worth $156,000 after purchasing an additional 318 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors.

Axsome Therapeutics Company Profile

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.