William Blair Issues Pessimistic Outlook for AXSM Earnings

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) - Equities research analysts at William Blair lowered their Q3 2024 earnings per share (EPS) estimates for Axsome Therapeutics in a research note issued to investors on Tuesday, November 12th. William Blair analyst M. Minter now anticipates that the company will post earnings of ($1.41) per share for the quarter, down from their prior forecast of ($1.30). The consensus estimate for Axsome Therapeutics' current full-year earnings is ($5.12) per share. William Blair also issued estimates for Axsome Therapeutics' Q4 2024 earnings at ($1.15) EPS, FY2024 earnings at ($4.80) EPS, Q1 2025 earnings at ($1.10) EPS, Q2 2025 earnings at ($0.66) EPS, Q3 2025 earnings at ($0.31) EPS, Q4 2025 earnings at $0.18 EPS and FY2025 earnings at ($1.88) EPS.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating 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 firm had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. During the same period in the previous year, the firm earned ($1.32) earnings per share.

A number of other equities research analysts also recently weighed in on the company. HC Wainwright reaffirmed a "buy" rating and set a $180.00 price target on shares of Axsome Therapeutics in a research note on Thursday, September 5th. StockNews.com downgraded shares of Axsome Therapeutics from a "hold" rating to a "sell" rating in a research report on Tuesday. Bank of America upgraded shares of Axsome Therapeutics from a "neutral" rating to a "buy" rating and raised their price target for the company from $95.00 to $106.00 in a report on Tuesday, August 6th. UBS Group decreased their price objective on shares of Axsome Therapeutics from $107.00 to $105.00 and set a "buy" rating for the company in a report on Tuesday, August 6th. Finally, Royal Bank of Canada raised their target price on Axsome Therapeutics from $130.00 to $131.00 and gave the company an "outperform" rating in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $124.93.

Axsome Therapeutics Stock Up 0.2 %

AXSM stock traded up $0.22 during midday trading on Thursday, reaching $98.05. The company had a trading volume of 285,941 shares, compared to its average volume of 619,478. The company has a current ratio of 2.44, a quick ratio of 2.40 and a debt-to-equity ratio of 1.97. Axsome Therapeutics has a 1 year low of $56.66 and a 1 year high of $105.00. The company has a 50 day moving average of $90.59 and a two-hundred day moving average of $84.05. The company has a market capitalization of $4.66 billion, a P/E ratio of -14.98 and a beta of 1.26.

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of 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 buying an additional 43,512 shares during the period. Bellevue Group AG lifted 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 valued at $54,701,000 after acquiring an additional 50,104 shares during the period. XTX Topco Ltd boosted its stake in shares of Axsome Therapeutics by 177.9% in the 2nd quarter. XTX Topco Ltd now owns 11,205 shares of the company's stock valued at $902,000 after purchasing 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 and hedge funds own 81.49% of the company's stock.

Insider Transactions at Axsome Therapeutics

In other news, Director Mark E. Saad sold 11,016 shares of the company's stock in a transaction dated 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 transaction, the director now owns 10,002 shares of the company's stock, valued at approximately $913,282.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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.