Leerink Partnrs Brokers Increase Earnings Estimates for AXSM

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) - Investment analysts at Leerink Partnrs upped their FY2027 earnings per share (EPS) estimates for shares of Axsome Therapeutics in a report issued on Sunday, April 13th. Leerink Partnrs analyst M. Goodman now expects that the company will post earnings of $4.20 per share for the year, up from their prior estimate of $4.10. The consensus estimate for Axsome Therapeutics' current full-year earnings is ($2.79) per share.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.97) by $0.01. The business had revenue of $118.77 million during the quarter, compared to analyst estimates of $117.83 million. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%.

Other equities analysts have also recently issued reports about the company. Jefferies Financial Group initiated coverage on Axsome Therapeutics in a research report on Monday, April 7th. They set a "buy" rating and a $200.00 price target on the stock. Bank of America increased their target price on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Royal Bank of Canada lifted their price target on shares of Axsome Therapeutics from $143.00 to $192.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. William Blair reiterated an "outperform" rating on shares of Axsome Therapeutics in a research report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Axsome Therapeutics in a research report on Tuesday, February 11th. They issued a "buy" rating and a $176.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $169.80.

Axsome Therapeutics Stock Performance

Shares of NASDAQ AXSM traded down $0.01 during midday trading on Tuesday, reaching $104.46. 486,786 shares of the company traded hands, compared to its average volume of 680,288. The stock has a 50-day moving average price of $118.16 and a 200 day moving average price of $102.46. The company has a market cap of $5.09 billion, a price-to-earnings ratio of -17.44 and a beta of 0.88. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04. Axsome Therapeutics has a 52 week low of $64.11 and a 52 week high of $139.13.

Institutional Investors Weigh In On Axsome Therapeutics

Several institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. lifted its stake in Axsome Therapeutics by 16,852.7% in the first quarter. Assenagon Asset Management S.A. now owns 627,418 shares of the company's stock valued at $73,176,000 after buying an additional 623,717 shares during the period. Boxer Capital Management LLC bought a new position in Axsome Therapeutics during the 4th quarter worth approximately $39,767,000. Lazard Asset Management LLC grew its holdings in Axsome Therapeutics by 525.7% during the fourth quarter. Lazard Asset Management LLC now owns 537,669 shares of the company's stock valued at $45,492,000 after purchasing an additional 451,737 shares during the period. Norges Bank bought a new stake in Axsome Therapeutics in the fourth quarter valued at approximately $34,100,000. Finally, BVF Inc. IL raised its position in shares of Axsome Therapeutics by 32.7% during the fourth quarter. BVF Inc. IL now owns 1,388,064 shares of the company's stock worth $117,444,000 after purchasing an additional 342,064 shares during the period. Institutional investors and hedge funds own 81.49% of the company's stock.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares of the company's stock, valued at approximately $5,529,450.09. The trade was a 6.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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.