Zacks Research Brokers Reduce Earnings Estimates for AXSM

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) - Analysts at Zacks Research lowered their Q3 2024 earnings per share estimates for Axsome Therapeutics in a research report issued to clients and investors on Monday, October 21st. Zacks Research analyst R. Department now expects that the company will post earnings per share of ($1.52) for the quarter, down from their previous estimate of ($1.42). The consensus estimate for Axsome Therapeutics' current full-year earnings is ($4.73) per share. Zacks Research also issued estimates for Axsome Therapeutics' Q4 2024 earnings at ($1.31) EPS, FY2024 earnings at ($5.16) EPS, Q1 2025 earnings at ($1.52) EPS, Q2 2025 earnings at ($1.33) EPS, Q3 2025 earnings at ($0.83) EPS, Q4 2025 earnings at ($0.47) EPS, FY2025 earnings at ($4.15) EPS, Q1 2026 earnings at ($0.59) EPS, Q2 2026 earnings at ($0.02) EPS and Q3 2026 earnings at $0.83 EPS.

A number of other research firms have also commented on AXSM. Wells Fargo & Company assumed coverage on shares of Axsome Therapeutics in a research note on Tuesday, September 3rd. They issued an "overweight" rating and a $140.00 price objective on the stock. HC Wainwright restated a "buy" rating and issued a $180.00 price target on shares of Axsome Therapeutics in a research report on Thursday, September 5th. UBS Group decreased their price objective on Axsome Therapeutics from $107.00 to $105.00 and set a "buy" rating for the company in a research report on Tuesday, August 6th. StockNews.com upgraded Axsome Therapeutics from a "sell" rating to a "hold" rating in a research note on Tuesday, October 1st. Finally, Bank of America raised Axsome Therapeutics from a "neutral" rating to a "buy" rating and increased their price target for the stock from $95.00 to $106.00 in a report on Tuesday, August 6th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $124.64.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock traded down $0.08 during trading on Wednesday, reaching $92.32. The company's stock had a trading volume of 277,958 shares, compared to its average volume of 627,896. The firm has a market cap of $4.38 billion, a PE ratio of -14.47 and a beta of 1.26. The company has a 50-day moving average price of $89.95 and a two-hundred day moving average price of $81.90. The company has a current ratio of 2.48, a quick ratio of 2.40 and a debt-to-equity ratio of 1.77. Axsome Therapeutics has a fifty-two week low of $55.02 and a fifty-two week high of $98.40.

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

Insider Activity

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 owns 5,783 shares of the company's stock, valued at approximately $487,275.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Axsome Therapeutics news, COO Mark L. Jacobson sold 47,739 shares of Axsome Therapeutics stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the completion of the transaction, the chief operating officer now owns 5,783 shares in the company, valued at approximately $487,275.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 completion of the sale, the director now owns 10,002 shares in the company, 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.

Institutional Trading of Axsome Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in AXSM. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Axsome Therapeutics in the second quarter valued at approximately $27,000. EntryPoint Capital LLC purchased a new stake in shares of Axsome Therapeutics in the first quarter valued at $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Axsome Therapeutics in the second quarter valued at $47,000. Russell Investments Group Ltd. increased its stake in Axsome Therapeutics by 5,550.0% in 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 during the last quarter. Finally, Covestor Ltd lifted its position in Axsome Therapeutics by 54,750.0% during the first quarter. Covestor Ltd now owns 1,097 shares of the company's stock worth $88,000 after buying an additional 1,095 shares during the period. 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.