Zacks Research Issues Pessimistic Forecast for AXSM Earnings

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) - Analysts at Zacks Research decreased their FY2024 earnings per share estimates for shares of Axsome Therapeutics in a research report issued on Tuesday, December 3rd. Zacks Research analyst R. Department now anticipates that the company will post earnings per share of ($5.32) for the year, down from their previous forecast of ($5.16). The consensus estimate for Axsome Therapeutics' current full-year earnings is ($4.58) per share. Zacks Research also issued estimates for Axsome Therapeutics' Q4 2024 earnings at ($1.65) EPS, Q1 2025 earnings at ($1.69) EPS, Q2 2025 earnings at ($1.56) EPS, Q3 2025 earnings at ($1.12) EPS, Q4 2025 earnings at ($1.03) EPS, FY2025 earnings at ($5.41) EPS, Q1 2026 earnings at ($0.51) EPS, Q2 2026 earnings at ($0.09) EPS, Q3 2026 earnings at $0.26 EPS and FY2026 earnings at $0.13 EPS.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company assumed coverage on Axsome Therapeutics in a research note on Tuesday, September 3rd. They set an "overweight" rating and a $140.00 price target on the stock. Robert W. Baird lifted their price target on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. StockNews.com raised shares of Axsome Therapeutics from a "sell" rating to a "hold" rating in a report on Wednesday, November 20th. Royal Bank of Canada boosted their price objective on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an "outperform" rating in a research report on Friday, October 4th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $107.00 price target on shares of Axsome Therapeutics in a research report on Monday, September 16th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $124.93.

Axsome Therapeutics Price Performance

NASDAQ AXSM traded up $1.75 on Friday, reaching $100.10. The company's stock had a trading volume of 346,631 shares, compared to its average volume of 612,882. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. The business has a 50-day moving average price of $92.23 and a 200 day moving average price of $86.45. The firm has a market cap of $4.85 billion, a PE ratio of -15.06 and a beta of 1.18. Axsome Therapeutics has a 52 week low of $64.11 and a 52 week high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.38) by $0.04. The company had revenue of $104.76 million during the quarter, compared to the consensus estimate 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 in the prior year, the firm earned ($1.32) EPS.

Insider Activity

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the firm's stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the sale, the director now owns 10,002 shares in the company, valued at $913,282.62. This trade represents a 52.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 22.40% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AXSM. Northwestern Mutual Wealth Management Co. bought a new stake in Axsome Therapeutics in the second quarter valued at approximately $27,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Axsome Therapeutics in the 2nd quarter worth approximately $47,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Axsome Therapeutics by 22.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company's stock valued at $156,000 after purchasing an additional 318 shares during the period. Moors & Cabot Inc. bought a new stake in shares of Axsome Therapeutics during the third quarter valued at approximately $200,000. Finally, Whalen Wealth Management Inc. purchased a new stake in Axsome Therapeutics in the third quarter worth $236,000. 81.49% of the stock is currently 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.