Q2 2024 EPS Estimates for Axsome Therapeutics, Inc. (NASDAQ:AXSM) Decreased by Analyst

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Equities researchers at Leerink Partnrs cut their Q2 2024 earnings per share (EPS) estimates for Axsome Therapeutics in a report released on Monday, May 6th. Leerink Partnrs analyst M. Goodman now forecasts that the company will post earnings of ($1.46) per share for the quarter, down from their prior forecast of ($1.26). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($3.75) per share. Leerink Partnrs also issued estimates for Axsome Therapeutics’ Q3 2024 earnings at ($1.35) EPS, Q4 2024 earnings at ($1.35) EPS, FY2024 earnings at ($5.25) EPS and FY2025 earnings at ($2.70) EPS.

AXSM has been the subject of a number of other research reports. Robert W. Baird boosted their price target on Axsome Therapeutics from $108.00 to $112.00 and gave the stock an “outperform” rating in a report on Tuesday. UBS Group assumed coverage on shares of Axsome Therapeutics in a research note on Tuesday, February 6th. They issued a “buy” rating and a $111.00 target price for the company. Piper Sandler raised their price target on shares of Axsome Therapeutics from $90.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Royal Bank of Canada boosted their price objective on Axsome Therapeutics from $123.00 to $128.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Finally, Truist Financial reiterated a “buy” rating and set a $150.00 target price on shares of Axsome Therapeutics in a research report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $121.92.

Axsome Therapeutics Stock Performance

NASDAQ AXSM opened at $75.68 on Thursday. Axsome Therapeutics has a 1 year low of $55.02 and a 1 year high of $98.40. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of -14.55 and a beta of 1.13. The company has a current ratio of 3.63, a quick ratio of 3.52 and a debt-to-equity ratio of 0.93. The firm’s 50 day simple moving average is $73.99 and its 200 day simple moving average is $75.73.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.48. The business had revenue of $71.53 million for the quarter, compared to the consensus estimate of $70.38 million. Axsome Therapeutics had a negative return on equity of 70.67% and a negative net margin of 88.41%.

Insiders Place Their Bets

In other news, COO Mark L. Jacobson sold 24,662 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $77.24, for a total transaction of $1,904,892.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Mark L. Jacobson sold 24,662 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $77.24, for a total value of $1,904,892.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roger Jeffs sold 29,976 shares of Axsome Therapeutics stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the transaction, the director now directly owns 120,756 shares in the company, valued at approximately $8,416,693.20. The disclosure for this sale can be found here. Insiders own 24.50% of the company’s stock.

Institutional Trading of Axsome Therapeutics

Several hedge funds have recently bought and sold shares of AXSM. Commonwealth Equity Services LLC increased its holdings in shares of Axsome Therapeutics by 30.1% in the third quarter. Commonwealth Equity Services LLC now owns 6,741 shares of the company’s stock worth $471,000 after purchasing an additional 1,558 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Axsome Therapeutics by 1.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 18,734 shares of the company’s stock valued at $1,309,000 after acquiring an additional 197 shares during the last quarter. Bank of New York Mellon Corp increased its position in Axsome Therapeutics by 4.3% in the third quarter. Bank of New York Mellon Corp now owns 168,006 shares of the company’s stock worth $11,742,000 after purchasing an additional 6,920 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Axsome Therapeutics by 12.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,724 shares of the company’s stock valued at $540,000 after purchasing an additional 872 shares in the last quarter. Finally, Strs Ohio lifted its position in Axsome Therapeutics by 28.4% during the third quarter. Strs Ohio now owns 9,500 shares of the company’s stock valued at $663,000 after purchasing an additional 2,100 shares during the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

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.