Brokers Offer Predictions for Axsome Therapeutics, Inc.’s Q1 2024 Earnings (NASDAQ:AXSM)

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Research analysts at Leerink Partnrs lowered their Q1 2024 earnings per share estimates for Axsome Therapeutics in a research note issued to investors on Tuesday, April 9th. Leerink Partnrs analyst M. Goodman now expects that the company will post earnings per share of ($1.33) for the quarter, down from their previous estimate of ($1.30). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($3.73) per share. Leerink Partnrs also issued estimates for Axsome Therapeutics’ Q2 2024 earnings at ($1.26) EPS, Q3 2024 earnings at ($0.93) EPS, Q4 2024 earnings at ($0.78) EPS and FY2024 earnings at ($4.30) EPS.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.48. The business had revenue of $71.53 million during 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%.

A number of other brokerages have also recently weighed in on AXSM. Guggenheim lifted their target price on Axsome Therapeutics from $110.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. UBS Group assumed coverage on Axsome Therapeutics in a report on Tuesday, February 6th. They issued a “buy” rating and a $111.00 target price on the stock. Mizuho lifted their target price on Axsome Therapeutics from $108.00 to $109.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Piper Sandler lifted their target price on Axsome Therapeutics from $90.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Finally, Citigroup lifted their target price on Axsome Therapeutics from $125.00 to $127.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $119.67.

Axsome Therapeutics Price Performance

Shares of NASDAQ:AXSM opened at $71.73 on Friday. The company has a market cap of $3.40 billion, a P/E ratio of -13.79 and a beta of 1.13. The company has a quick ratio of 3.52, a current ratio of 3.63 and a debt-to-equity ratio of 0.93. Axsome Therapeutics has a 52 week low of $55.02 and a 52 week high of $98.40. The business has a fifty day simple moving average of $80.63 and a 200-day simple moving average of $75.15.

Institutional Trading of Axsome Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Washington Trust Advisors Inc. bought a new stake in Axsome Therapeutics in the fourth quarter valued at about $26,000. Harbour Investments Inc. increased its holdings in Axsome Therapeutics by 461.5% in the second quarter. Harbour Investments Inc. now owns 365 shares of the company’s stock valued at $26,000 after buying an additional 300 shares during the last quarter. Fifth Third Bancorp increased its holdings in Axsome Therapeutics by 100.0% in the third quarter. Fifth Third Bancorp now owns 400 shares of the company’s stock valued at $28,000 after buying an additional 200 shares during the last quarter. KBC Group NV bought a new position in shares of Axsome Therapeutics during the fourth quarter valued at approximately $55,000. Finally, Captrust Financial Advisors grew its holdings in shares of Axsome Therapeutics by 582.0% during the first quarter. Captrust Financial Advisors now owns 757 shares of the company’s stock valued at $31,000 after purchasing an additional 646 shares during the last quarter. 81.49% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, COO Mark L. Jacobson sold 24,662 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $77.24, for a total value of $1,904,892.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Roger Jeffs sold 29,976 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now directly owns 120,756 shares of the company’s stock, valued at $8,416,693.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Mark L. Jacobson sold 24,662 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $77.24, for a total value of $1,904,892.88. The disclosure for this sale can be found here. Insiders own 24.50% 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.