Zacks Research Equities Analysts Reduce Earnings Estimates for Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Axsome Therapeutics, Inc. (NASDAQ:AXSM – Get Rating) – Research analysts at Zacks Research reduced their Q2 2023 earnings per share estimates for shares of Axsome Therapeutics in a report issued on Monday, May 22nd. Zacks Research analyst K. Shah now forecasts that the company will earn ($1.32) per share for the quarter, down from their prior forecast of ($1.28). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($3.81) per share. Zacks Research also issued estimates for Axsome Therapeutics’ Q4 2023 earnings at ($1.28) EPS, FY2023 earnings at ($4.06) EPS, Q1 2024 earnings at ($1.08) EPS, Q2 2024 earnings at ($1.01) EPS, Q3 2024 earnings at ($0.86) EPS, Q4 2024 earnings at ($0.88) EPS, FY2024 earnings at ($3.83) EPS, Q1 2025 earnings at ($0.82) EPS and FY2025 earnings at ($1.06) EPS.

A number of other equities analysts have also recently issued reports on the company. Mizuho increased their price target on Axsome Therapeutics from $84.00 to $95.00 in a report on Thursday, May 11th. Guggenheim raised their price objective on Axsome Therapeutics from $90.00 to $100.00 in a report on Tuesday, May 9th. Morgan Stanley lifted their price target on Axsome Therapeutics from $83.00 to $87.00 in a research note on Tuesday, May 9th. HC Wainwright reiterated a “buy” rating and issued a $200.00 price objective on shares of Axsome Therapeutics in a research report on Monday, April 17th. Finally, StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, May 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.57.

Axsome Therapeutics Price Performance

Axsome Therapeutics stock opened at $68.09 on Thursday. The stock’s 50 day moving average is $68.77 and its 200 day moving average is $67.98. Axsome Therapeutics has a one year low of $20.63 and a one year high of $82.85. The firm has a market cap of $2.97 billion, a P/E ratio of -17.92 and a beta of 1.90. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.02 and a quick ratio of 2.95.

Axsome Therapeutics (NASDAQ:AXSM – Get Rating) last issued its quarterly earnings results on Monday, May 8th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($1.13) by $0.91. The company had revenue of $94.58 million for the quarter, compared to analysts’ expectations of $26.87 million. Axsome Therapeutics had a negative return on equity of 152.04% and a negative net margin of 109.75%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. boosted its position in Axsome Therapeutics by 33.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 589 shares of the company’s stock worth $36,000 after purchasing an additional 148 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Axsome Therapeutics by 1.7% in the first quarter. AQR Capital Management LLC now owns 8,825 shares of the company’s stock valued at $544,000 after acquiring an additional 148 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Axsome Therapeutics by 5.1% during the first quarter. Victory Capital Management Inc. now owns 3,844 shares of the company’s stock valued at $237,000 after purchasing an additional 185 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Axsome Therapeutics by 1.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 14,627 shares of the company’s stock valued at $560,000 after purchasing an additional 245 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Axsome Therapeutics by 0.9% in the 4th quarter. Legal & General Group Plc now owns 27,011 shares of the company’s stock valued at $2,083,000 after acquiring an additional 250 shares in the last quarter. 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.