FY2024 EPS Estimates for AXSM Increased by Leerink Partnrs

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) - Analysts at Leerink Partnrs increased their FY2024 earnings per share estimates for Axsome Therapeutics in a report issued on Tuesday, November 12th. Leerink Partnrs analyst M. Goodman now forecasts that the company will post earnings of ($4.77) per share for the year, up from their previous estimate of ($4.97). The consensus estimate for Axsome Therapeutics' current full-year earnings is ($5.04) per share. Leerink Partnrs also issued estimates for Axsome Therapeutics' Q4 2024 earnings at ($1.10) EPS, FY2025 earnings at ($3.10) EPS and FY2026 earnings at $0.35 EPS.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released 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. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The business had revenue of $104.76 million for the quarter, compared to analysts' expectations of $98.71 million. During the same quarter in the previous year, the firm posted ($1.32) earnings per share.

A number of other analysts have also recently weighed in on AXSM. HC Wainwright reaffirmed a "buy" rating and issued a $180.00 price target on shares of Axsome Therapeutics in a research report on Thursday, September 5th. Bank of America upgraded shares of Axsome Therapeutics from a "neutral" rating to a "buy" rating and increased their price objective for the company from $95.00 to $106.00 in a research note on Tuesday, August 6th. Robert W. Baird lifted 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. Needham & Company LLC restated a "buy" rating and issued a $130.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $107.00 target price on shares of Axsome Therapeutics in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $124.93.

Axsome Therapeutics Stock Down 4.3 %

Shares of AXSM traded down $4.20 during mid-day trading on Friday, reaching $93.17. The company's stock had a trading volume of 770,635 shares, compared to its average volume of 622,320. Axsome Therapeutics has a 1 year low of $56.66 and a 1 year high of $105.00. The company has a market cap of $4.52 billion, a price-to-earnings ratio of -14.27 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. The business has a fifty day moving average of $90.66 and a 200 day moving average of $84.27.

Insider Transactions at Axsome Therapeutics

In related news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the transaction, the director now owns 10,002 shares in the company, valued at $913,282.62. This represents a 52.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 22.40% of the company's stock.

Institutional Trading of Axsome Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Natixis increased its stake in Axsome Therapeutics by 13.6% in the 1st quarter. Natixis now owns 1,235 shares of the company's stock worth $99,000 after acquiring an additional 148 shares during the last quarter. Arizona State Retirement System grew its position in Axsome Therapeutics by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 8,630 shares of the company's stock valued at $695,000 after acquiring an additional 177 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake 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 buying an additional 318 shares during the period. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Axsome Therapeutics during the second quarter valued at approximately $27,000. Finally, WCM Investment Management LLC increased its stake in shares of Axsome Therapeutics by 0.3% during the third quarter. WCM Investment Management LLC now owns 113,692 shares of the company's stock valued at $10,191,000 after buying an additional 347 shares during the period. Hedge funds and other institutional investors own 81.49% 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.