William Blair Analysts Decrease Earnings Estimates for AXSM

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Research analysts at William Blair cut their Q3 2024 earnings estimates for Axsome Therapeutics in a research report issued to clients and 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 estimate of ($1.30). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($5.04) 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) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The company had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. During the same quarter in the previous year, the business posted ($1.32) EPS.

Other research analysts also recently issued reports about the stock. Bank of America raised shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and increased their target price for the company from $95.00 to $106.00 in a research report on Tuesday, August 6th. Wells Fargo & Company initiated coverage on shares of Axsome Therapeutics in a research report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 target price on the stock. StockNews.com downgraded shares of Axsome Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday. Royal Bank of Canada increased their price target on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, Robert W. Baird increased their price target on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $124.93.

Axsome Therapeutics Stock Down 4.3 %

Shares of NASDAQ:AXSM opened at $93.17 on Thursday. The company has a current ratio of 2.44, a quick ratio of 2.40 and a debt-to-equity ratio of 1.97. The firm has a 50 day simple moving average of $90.66 and a 200-day simple moving average of $84.27. The company has a market capitalization of $4.52 billion, a PE ratio of -14.27 and a beta of 1.26. Axsome Therapeutics has a twelve month low of $56.66 and a twelve month high of $105.00.

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 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 directly owns 10,002 shares in the company, valued at approximately $913,282.62. This trade represents a 52.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Barclays PLC increased its holdings in Axsome Therapeutics by 279.6% during the 3rd quarter. Barclays PLC now owns 61,785 shares of the company’s stock valued at $5,552,000 after acquiring an additional 45,509 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Axsome Therapeutics by 1.1% during the third quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock worth $66,750,000 after buying an additional 8,125 shares in the last quarter. Iron Triangle Partners LP purchased a new stake in shares of Axsome Therapeutics during the third quarter worth about $22,671,000. Erste Asset Management GmbH purchased a new stake in shares of Axsome Therapeutics during the third quarter worth about $986,000. Finally, Point72 Europe London LLP grew its holdings in shares of Axsome Therapeutics by 12.5% during the third quarter. Point72 Europe London LLP now owns 34,570 shares of the company’s stock worth $3,107,000 after buying an additional 3,829 shares in the last quarter. 81.49% of the stock is currently owned by hedge funds and other 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.