Q3 EPS Estimate for Axsome Therapeutics Raised by Analyst

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) - Leerink Partnrs raised their Q3 2024 earnings per share (EPS) estimates for Axsome Therapeutics in a research report issued to clients and investors on Tuesday, October 15th. Leerink Partnrs analyst M. Goodman now expects that the company will post earnings per share of ($1.39) for the quarter, up from their previous estimate of ($1.42). The consensus estimate for Axsome Therapeutics' current full-year earnings is ($4.73) per share. Leerink Partnrs also issued estimates for Axsome Therapeutics' Q4 2024 earnings at ($1.25) EPS and FY2024 earnings at ($4.97) EPS.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings results on Monday, August 5th. The company reported ($1.24) earnings per share for the quarter, topping analysts' consensus estimates of ($1.30) by $0.06. The company had revenue of $87.17 million during the quarter, compared to the consensus estimate of $84.53 million. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%.

Other research analysts have also issued research reports about the stock. HC Wainwright restated a "buy" rating and set a $180.00 price target on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Royal Bank of Canada increased their target price on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an "outperform" rating in a research report on Friday, October 4th. StockNews.com upgraded Axsome Therapeutics from a "sell" rating to a "hold" rating in a report on Tuesday, October 1st. Cantor Fitzgerald reiterated an "overweight" rating and set a $107.00 price target on shares of Axsome Therapeutics in a research note on Monday, September 16th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $130.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, September 5th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $124.64.

Axsome Therapeutics Price Performance

NASDAQ:AXSM remained flat at $93.35 during mid-day trading on Friday. The company had a trading volume of 669,675 shares, compared to its average volume of 632,576. The company has a market cap of $4.43 billion, a PE ratio of -14.63 and a beta of 1.26. The company has a fifty day moving average of $89.32 and a 200 day moving average of $81.33. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.40 and a current ratio of 2.48. Axsome Therapeutics has a 12-month low of $55.02 and a 12-month high of $98.40.

Institutional Investors Weigh In On Axsome Therapeutics

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Axsome Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company's stock worth $298,474,000 after acquiring an additional 43,512 shares during the last quarter. Bellevue Group AG grew its holdings in shares of Axsome Therapeutics by 7.9% during the first quarter. Bellevue Group AG now owns 685,476 shares of the company's stock worth $54,701,000 after purchasing an additional 50,104 shares during the last quarter. XTX Topco Ltd increased its stake in shares of Axsome Therapeutics by 177.9% in the second quarter. XTX Topco Ltd now owns 11,205 shares of the company's stock valued at $902,000 after buying an additional 7,173 shares in the last quarter. Tri Locum Partners LP raised its holdings in shares of Axsome Therapeutics by 198.4% in the second quarter. Tri Locum Partners LP now owns 306,513 shares of the company's stock valued at $24,674,000 after buying an additional 203,802 shares during the last quarter. Finally, Blair William & Co. IL lifted its position in Axsome Therapeutics by 645.9% during the 1st quarter. Blair William & Co. IL now owns 63,547 shares of the company's stock worth $5,071,000 after buying an additional 55,027 shares in the last quarter. Institutional investors own 81.49% of the company's stock.

Insider Buying and Selling at Axsome Therapeutics

In other news, Director Mark E. Saad sold 11,016 shares of the 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 in the company, valued at approximately $913,282.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Axsome Therapeutics news, COO Mark L. Jacobson sold 47,739 shares of the company's stock in a transaction on Friday, August 9th. The stock was sold at an average price of $84.26, for a total value of $4,022,488.14. Following the sale, the chief operating officer now directly owns 5,783 shares in the company, valued at $487,275.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mark E. Saad sold 11,016 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total value of $1,005,870.96. Following the transaction, the director now owns 10,002 shares of the company's stock, valued at $913,282.62. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.