William Blair Has Strong Outlook for AXSM FY2024 Earnings

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) - Stock analysts at William Blair raised their FY2024 EPS estimates for shares of Axsome Therapeutics in a research report issued on Monday, January 13th. William Blair analyst M. Minter now expects that the company will post earnings per share of ($4.04) for the year, up from their previous estimate of ($4.13). The consensus estimate for Axsome Therapeutics' current full-year earnings is ($4.61) per share. William Blair also issued estimates for Axsome Therapeutics' Q4 2024 earnings at ($0.84) EPS, Q1 2025 earnings at ($0.95) EPS, Q2 2025 earnings at ($0.55) EPS, Q3 2025 earnings at ($0.23) EPS, Q4 2025 earnings at $0.11 EPS, FY2025 earnings at ($1.62) EPS and FY2026 earnings at $4.74 EPS.

Several other equities research analysts have also commented on AXSM. Needham & Company LLC reiterated a "buy" rating and issued a $133.00 price objective on shares of Axsome Therapeutics in a research note on Monday. Mizuho reduced their target price on shares of Axsome Therapeutics from $124.00 to $122.00 and set an "outperform" rating for the company in a research report on Tuesday, December 31st. Royal Bank of Canada increased their target price on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an "outperform" rating in a research report on Friday, October 4th. Robert W. Baird increased their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $121.00 target price on shares of Axsome Therapeutics in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $130.69.

Axsome Therapeutics Stock Down 1.9 %

NASDAQ:AXSM traded down $1.75 on Thursday, hitting $91.94. The stock had a trading volume of 808,350 shares, compared to its average volume of 1,004,376. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. The stock has a market cap of $4.46 billion, a P/E ratio of -14.08 and a beta of 1.04. Axsome Therapeutics has a 1 year low of $64.11 and a 1 year high of $105.00. The firm's fifty day simple moving average is $92.24 and its two-hundred day simple moving average is $89.32.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, beating the consensus estimate of ($1.38) by $0.04. The firm had revenue of $104.76 million during the quarter, compared to analyst estimates of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same quarter last year, the business posted ($1.32) EPS.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC boosted its holdings in Axsome Therapeutics by 20.6% in the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company's stock worth $97,786,000 after buying an additional 185,951 shares during the period. Geode Capital Management LLC boosted its holdings in Axsome Therapeutics by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 908,459 shares of the company's stock valued at $81,659,000 after purchasing an additional 23,564 shares during the period. Wellington Management Group LLP boosted its holdings in Axsome Therapeutics by 1.1% in the 3rd quarter. Wellington Management Group LLP now owns 742,745 shares of the company's stock valued at $66,750,000 after purchasing an additional 8,125 shares during the period. Millennium Management LLC boosted its holdings in Axsome Therapeutics by 1.4% in the 2nd quarter. Millennium Management LLC now owns 739,819 shares of the company's stock valued at $59,555,000 after purchasing an additional 10,401 shares during the period. Finally, Hood River Capital Management LLC boosted its holdings in Axsome Therapeutics by 5.4% in the 2nd quarter. Hood River Capital Management LLC now owns 549,066 shares of the company's stock valued at $44,200,000 after purchasing an additional 28,316 shares during the period. 81.49% of the stock is owned by institutional investors.

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.