Axsome Therapeutics, Inc. (NASDAQ:AXSM) Expected to Post Q1 2024 Earnings of ($1.26) Per Share

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Research analysts at William Blair raised their Q1 2024 earnings per share estimates for shares of Axsome Therapeutics in a research report issued on Wednesday, April 17th. William Blair analyst M. Minter now expects that the company will earn ($1.26) per share for the quarter, up from their previous estimate of ($1.35). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($3.85) per share. William Blair also issued estimates for Axsome Therapeutics’ FY2024 earnings at ($4.03) EPS.

Several other research analysts have also issued reports on the company. Truist Financial restated a “buy” rating and issued a $150.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, March 26th. Royal Bank of Canada boosted their target price on Axsome Therapeutics from $123.00 to $128.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. HC Wainwright reaffirmed a “buy” rating and issued a $190.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, April 2nd. Piper Sandler lifted 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 upped their target price on shares of Axsome Therapeutics from $125.00 to $127.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $119.67.

Axsome Therapeutics Price Performance

Shares of AXSM stock opened at $67.90 on Friday. The firm’s 50 day moving average price is $78.09 and its two-hundred day moving average price is $75.03. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.52 and a current ratio of 3.63. Axsome Therapeutics has a 52-week low of $55.02 and a 52-week high of $98.40. The stock has a market cap of $3.22 billion, a PE ratio of -12.91 and a beta of 1.13.

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

Insider Buying and Selling at Axsome Therapeutics

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

Hedge Funds Weigh In On Axsome Therapeutics

Several hedge funds have recently modified their holdings of the stock. Perceptive Advisors LLC boosted its position in Axsome Therapeutics by 115.5% during the fourth quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock valued at $82,616,000 after purchasing an additional 556,370 shares during the last quarter. Eventide Asset Management LLC acquired a new stake in shares of Axsome Therapeutics in the 3rd quarter valued at approximately $24,232,000. Goldman Sachs Group Inc. grew its stake in shares of Axsome Therapeutics by 549.0% in the second 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 in the last quarter. Vanguard Group Inc. increased its holdings in Axsome Therapeutics by 11.0% during 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. Finally, Point72 Asset Management L.P. raised its position in Axsome Therapeutics by 57.4% during the fourth quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock worth $66,633,000 after acquiring an additional 305,264 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.

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.