Zacks Research Has Negative Forecast for AXSM Q3 Earnings

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Research analysts at Zacks Research dropped their Q3 2024 EPS estimates for shares of Axsome Therapeutics in a research report issued on Monday, October 21st. Zacks Research analyst R. Department now expects that the company will earn ($1.52) per share for the quarter, down from their previous forecast 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.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Monday, August 5th. The company reported ($1.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.30) by $0.06. The business had revenue of $87.17 million for the quarter, compared to analysts’ expectations of $84.53 million. Axsome Therapeutics had a negative net margin of 105.85% and a negative return on equity of 117.46%.

Other equities analysts have also issued reports about the stock. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, October 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a research report on Monday, September 16th. HC Wainwright reissued a “buy” rating and set a $180.00 price target on shares of Axsome Therapeutics in a research report on Thursday, September 5th. Wells Fargo & Company initiated coverage on shares of Axsome Therapeutics in a research report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price target for the company. Finally, UBS Group reduced their price target on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.64.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock opened at $88.83 on Wednesday. The firm has a market capitalization of $4.22 billion, a P/E ratio of -13.92 and a beta of 1.26. The company has a quick ratio of 2.40, a current ratio of 2.48 and a debt-to-equity ratio of 1.77. The company has a 50 day moving average price of $90.02 and a 200 day moving average price of $81.94. Axsome Therapeutics has a 52 week low of $55.02 and a 52 week high of $98.40.

Institutional Investors Weigh In On Axsome Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its holdings in Axsome Therapeutics by 1.0% in the 4th quarter. Wellington Management Group LLP now owns 239,819 shares of the company’s stock valued at $19,087,000 after buying an additional 2,265 shares during the period. Janiczek Wealth Management LLC purchased a new position in shares of Axsome Therapeutics during the first quarter worth approximately $97,000. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Axsome Therapeutics by 14.6% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 69,483 shares of the company’s stock worth $5,545,000 after purchasing an additional 8,867 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Axsome Therapeutics by 2.9% during the first quarter. Principal Financial Group Inc. now owns 9,773 shares of the company’s stock worth $780,000 after purchasing an additional 276 shares during the period. Finally, Privium Fund Management B.V. lifted its holdings in shares of Axsome Therapeutics by 13.9% during the first quarter. Privium Fund Management B.V. now owns 82,032 shares of the company’s stock worth $6,546,000 after purchasing an additional 10,000 shares during the period. Institutional investors and hedge funds own 81.49% of the company’s stock.

Insider Activity

In related news, Director Mark E. Saad sold 11,016 shares of Axsome Therapeutics stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total value of $1,005,870.96. Following the sale, the director now owns 10,002 shares of the company’s stock, valued at approximately $913,282.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Mark E. Saad sold 11,016 shares of Axsome Therapeutics stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total value of $1,005,870.96. Following the sale, the director now owns 10,002 shares of the company’s stock, valued at approximately $913,282.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mark L. Jacobson sold 47,739 shares of Axsome Therapeutics stock in a transaction on 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 sale, the chief operating officer now directly owns 5,783 shares in the company, valued at $487,275.58. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 22.40% of the company’s stock.

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.