HC Wainwright Has Bullish Estimate for AXSM FY2024 Earnings

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) - Equities researchers at HC Wainwright raised their FY2024 earnings per share estimates for Axsome Therapeutics in a report issued on Monday, November 25th. HC Wainwright analyst R. Selvaraju now anticipates that the company will post earnings of ($4.60) per share for the year, up from their prior estimate 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 - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping analysts' consensus estimates of ($1.38) by $0.04. The company had revenue of $104.76 million during the quarter, compared to the consensus estimate 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 firm earned ($1.32) EPS.

Several other equities analysts have also recently issued reports on the company. Bank of America upgraded Axsome Therapeutics from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $95.00 to $106.00 in a research report on Tuesday, August 6th. Needham & Company LLC reiterated a "buy" rating and issued a $130.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, November 12th. Cantor Fitzgerald restated an "overweight" rating and set a $107.00 target price on shares of Axsome Therapeutics in a research report on Monday, September 16th. UBS Group lowered their price target on shares of Axsome Therapeutics from $107.00 to $105.00 and set a "buy" rating on the stock in a research note on Tuesday, August 6th. Finally, Robert W. Baird boosted their price objective on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $124.93.

Axsome Therapeutics Stock Performance

NASDAQ AXSM traded up $2.62 during trading hours on Wednesday, hitting $99.65. 487,421 shares of the stock were exchanged, compared to its average volume of 619,294. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. The company has a market cap of $4.83 billion, a price-to-earnings ratio of -14.86 and a beta of 1.26. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $105.00. The stock has a 50-day moving average of $91.21 and a 200 day moving average of $85.47.

Insider Buying and Selling at Axsome Therapeutics

In related news, Director Mark E. Saad sold 11,016 shares of the business's stock in a transaction dated 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 approximately $913,282.62. The trade was a 52.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 22.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Axsome Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. boosted its position in Axsome Therapeutics by 5,550.0% during the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company's stock worth $63,000 after acquiring an additional 777 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Axsome Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company's stock valued at $298,474,000 after purchasing an additional 43,512 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in Axsome Therapeutics by 136.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 7,370 shares of the company's stock valued at $588,000 after purchasing an additional 4,258 shares during the last quarter. EntryPoint Capital LLC purchased a new position in Axsome Therapeutics during the first quarter worth about $35,000. Finally, Kennedy Capital Management LLC boosted its stake in Axsome Therapeutics by 46.0% in the 1st quarter. Kennedy Capital Management LLC now owns 19,483 shares of the company's stock worth $1,555,000 after buying an additional 6,136 shares during the last quarter. 81.49% of the stock is currently owned by hedge funds and other 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.