Equities Analysts Offer Predictions for Axsome Therapeutics, Inc.’s Q2 2024 Earnings (NASDAQ:AXSM)

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Research analysts at HC Wainwright reduced their Q2 2024 EPS estimates for shares of Axsome Therapeutics in a research note issued to investors on Tuesday, March 26th. HC Wainwright analyst R. Selvaraju now anticipates that the company will post earnings per share of ($1.08) for the quarter, down from their prior estimate of ($1.00). HC Wainwright has a “Buy” rating and a $190.00 price objective on the stock. The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($3.71) per share. HC Wainwright also issued estimates for Axsome Therapeutics’ Q3 2024 earnings at ($0.99) EPS, Q4 2024 earnings at ($0.91) EPS, FY2024 earnings at ($4.30) EPS, Q1 2025 earnings at ($0.82) EPS, Q2 2025 earnings at ($0.03) EPS, Q3 2025 earnings at $0.51 EPS, Q4 2025 earnings at $1.39 EPS and FY2025 earnings at $1.07 EPS.

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

Other analysts also recently issued research reports about the stock. Robert W. Baird initiated coverage on shares of Axsome Therapeutics in a report on Tuesday, March 19th. They set an “outperform” rating and a $108.00 price target on the stock. Royal Bank of Canada raised their target price on shares of Axsome Therapeutics from $123.00 to $128.00 and gave the stock an “outperform” rating in a report on Tuesday. Mizuho boosted their target price on shares of Axsome Therapeutics from $108.00 to $109.00 and gave the company a “buy” rating in a research note on Thursday. Piper Sandler increased their price objective on shares of Axsome Therapeutics from $90.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Finally, Citigroup boosted their price target on Axsome Therapeutics from $125.00 to $127.00 and gave the company a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $119.75.

Axsome Therapeutics Trading Up 0.8 %

Axsome Therapeutics stock opened at $79.80 on Thursday. Axsome Therapeutics has a one year low of $55.02 and a one year high of $98.40. The business’s fifty day moving average is $84.01 and its 200 day moving average is $75.32. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.63 and a quick ratio of 3.52. The stock has a market capitalization of $3.78 billion, a PE ratio of -15.35 and a beta of 1.17.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, Director Roger Jeffs sold 29,976 shares of Axsome Therapeutics stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $69.70, for a total value of $2,089,327.20. Following the sale, the director now owns 120,756 shares of the company’s stock, valued at approximately $8,416,693.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 24.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. RA Capital Management L.P. purchased a new position in Axsome Therapeutics in the second quarter worth about $71,860,000. Perceptive Advisors LLC boosted its holdings in shares of Axsome Therapeutics by 115.5% in the 4th quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock worth $82,616,000 after purchasing an additional 556,370 shares during the period. Eventide Asset Management LLC bought a new position in shares of Axsome Therapeutics during the 3rd quarter valued at approximately $24,232,000. Goldman Sachs Group Inc. raised its holdings in Axsome Therapeutics by 549.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 377,337 shares of the company’s stock valued at $14,452,000 after buying an additional 319,200 shares during the period. Finally, Vanguard Group Inc. lifted its position in Axsome Therapeutics by 11.0% in the third quarter. Vanguard Group Inc. now owns 3,111,500 shares of the company’s stock worth $138,835,000 after buying an additional 309,362 shares during the last quarter. 81.49% of the stock is owned by hedge funds and other institutional investors.

Axsome Therapeutics Company Profile

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.