Axsome Therapeutics, Inc. (NASDAQ:AXSM) to Post Q1 2023 Earnings of ($1.15) Per Share, Zacks Research Forecasts

Axsome Therapeutics, Inc. (NASDAQ:AXSM – Get Rating) – Analysts at Zacks Research issued their Q1 2023 EPS estimates for shares of Axsome Therapeutics in a report issued on Monday, March 13th. Zacks Research analyst K. Saha anticipates that the company will post earnings of ($1.15) per share for the quarter. The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($4.28) per share. Zacks Research also issued estimates for Axsome Therapeutics’ Q2 2023 earnings at ($1.28) EPS, Q3 2023 earnings at ($1.24) EPS, Q4 2023 earnings at ($1.26) EPS, FY2023 earnings at ($4.93) EPS, Q1 2024 earnings at ($1.09) EPS, Q2 2024 earnings at ($1.24) EPS, Q3 2024 earnings at ($1.14) EPS, Q4 2024 earnings at ($0.79) EPS and FY2024 earnings at ($4.26) EPS.

AXSM has been the subject of several other research reports. Mizuho reaffirmed a “buy” rating and set a $84.00 target price on shares of Axsome Therapeutics in a report on Monday. Piper Sandler initiated coverage on shares of Axsome Therapeutics in a report on Thursday, January 5th. They issued a “neutral” rating and a $75.00 price objective for the company. Bank of America reissued an “underperform” rating and issued a $52.00 price objective on shares of Axsome Therapeutics in a report on Tuesday, February 14th. Guggenheim cut their price target on shares of Axsome Therapeutics from $105.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 28th. Finally, BTIG Research upped their price target on shares of Axsome Therapeutics from $62.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, December 23rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Axsome Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $104.64.

Axsome Therapeutics Stock Up 2.1 %

Axsome Therapeutics stock opened at $63.24 on Thursday. The firm has a market capitalization of $2.75 billion, a PE ratio of -13.84 and a beta of 1.95. The company’s 50-day moving average is $66.11 and its 200-day moving average is $61.98. Axsome Therapeutics has a fifty-two week low of $20.63 and a fifty-two week high of $82.00. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.54 and a quick ratio of 2.50.

Axsome Therapeutics (NASDAQ:AXSM – Get Rating) last issued its quarterly earnings results on Monday, February 27th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.18) by ($0.10). The business had revenue of $24.37 million for the quarter, compared to analysts’ expectations of $21.51 million.

Hedge Funds Weigh In On Axsome Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. acquired a new position in Axsome Therapeutics during the 4th quarter worth approximately $259,000. Voya Investment Management LLC increased its position in Axsome Therapeutics by 5.6% in the 4th quarter. Voya Investment Management LLC now owns 16,362 shares of the company’s stock valued at $1,262,000 after acquiring an additional 863 shares during the period. Metropolitan Life Insurance Co NY increased its position in Axsome Therapeutics by 15.0% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 1,981 shares of the company’s stock valued at $153,000 after acquiring an additional 258 shares during the period. MetLife Investment Management LLC increased its position in Axsome Therapeutics by 3.4% in the 4th quarter. MetLife Investment Management LLC now owns 16,900 shares of the company’s stock valued at $1,303,000 after acquiring an additional 558 shares during the period. Finally, 1832 Asset Management L.P. acquired a new position in Axsome Therapeutics in the 4th quarter valued at approximately $9,117,000. 59.71% of the stock is currently owned by institutional investors and hedge funds.

Axsome Therapeutics Company Profile

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Axsome Therapeutics, Inc is a commercial-stage biopharmaceutical company, which engages in the development of novel therapies for the management of central nervous system disorders. Its portfolio consists of Products Overview and Pipeline Overview. The Products Overview includes Auvelity and Sunosi. The Pipeline Overview contain AXS-05, AXS-07, AXS-12, and AXS-14.