FY2024 Earnings Estimate for AXSM Issued By Leerink Partnrs

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Equities research analysts at Leerink Partnrs boosted their FY2024 earnings per share (EPS) estimates for shares of Axsome Therapeutics in a research note issued to investors on Tuesday, November 12th. Leerink Partnrs analyst M. Goodman now anticipates that the company will post earnings of ($4.77) per share for the year, up from their previous forecast of ($4.97). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($5.04) per share. Leerink Partnrs also issued estimates for Axsome Therapeutics’ Q4 2024 earnings at ($1.10) EPS, FY2025 earnings at ($3.10) EPS and FY2026 earnings at $0.35 EPS.

AXSM has been the topic of a number of other reports. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 target price on shares of Axsome Therapeutics in a report on Tuesday, November 12th. Wells Fargo & Company initiated coverage on Axsome Therapeutics in a report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 target price for the company. Bank of America upgraded Axsome Therapeutics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $95.00 to $106.00 in a research report on Tuesday, August 6th. HC Wainwright restated a “buy” rating and set a $180.00 price target on shares of Axsome Therapeutics in a report on Thursday, September 5th. Finally, UBS Group lowered their price target on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Axsome Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $124.93.

Axsome Therapeutics Trading Down 4.3 %

Shares of Axsome Therapeutics stock opened at $93.17 on Friday. Axsome Therapeutics has a fifty-two week low of $56.66 and a fifty-two week high of $105.00. The company has a quick ratio of 2.40, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of -14.27 and a beta of 1.26. The business has a fifty day simple moving average of $90.66 and a 200-day simple moving average of $84.35.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.04. The company had revenue of $104.76 million for 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 period in the previous year, the firm earned ($1.32) EPS.

Hedge Funds Weigh In On Axsome Therapeutics

Large investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. bought a new stake in Axsome Therapeutics in the second quarter valued at $27,000. EntryPoint Capital LLC acquired a new stake in shares of Axsome Therapeutics in the first quarter valued at approximately $35,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Axsome Therapeutics during the second quarter worth $47,000. Russell Investments Group Ltd. raised its holdings in Axsome Therapeutics by 5,550.0% during the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after purchasing an additional 777 shares during the last quarter. Finally, Covestor Ltd raised its stake in shares of Axsome Therapeutics by 54,750.0% during the first quarter. Covestor Ltd now owns 1,097 shares of the company’s stock worth $88,000 after buying an additional 1,095 shares during 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 business’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 transaction, the director now owns 10,002 shares in the company, valued at approximately $913,282.62. The trade was a 52.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 22.40% of the stock is currently owned by corporate insiders.

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.