Analysts Issue Forecasts for Axsome Therapeutics, Inc.’s Q2 2024 Earnings (NASDAQ:AXSM)

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Analysts at William Blair dropped their Q2 2024 earnings per share estimates for shares of Axsome Therapeutics in a research note issued to investors on Monday, May 6th. William Blair analyst M. Minter now forecasts that the company will post earnings per share of ($1.35) for the quarter, down from their prior estimate of ($1.24). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($3.75) per share. William Blair also issued estimates for Axsome Therapeutics’ Q3 2024 earnings at ($1.16) EPS, Q4 2024 earnings at ($0.88) EPS, FY2024 earnings at ($4.48) EPS, Q1 2025 earnings at ($0.94) EPS, Q2 2025 earnings at ($0.39) EPS, Q3 2025 earnings at $0.06 EPS, Q4 2025 earnings at $0.55 EPS and FY2025 earnings at ($0.72) EPS.

Other equities analysts also recently issued reports about the company. Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a report on Wednesday, April 10th. Truist Financial restated a “buy” rating and set a $150.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, March 26th. Citigroup reduced their price target on shares of Axsome Therapeutics from $127.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday. Guggenheim increased their price objective on shares of Axsome Therapeutics from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, Royal Bank of Canada boosted their target price on shares of Axsome Therapeutics from $123.00 to $128.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $121.92.

Axsome Therapeutics Trading Down 1.6 %

Shares of AXSM opened at $75.68 on Thursday. The company has a market capitalization of $3.59 billion, a PE ratio of -14.55 and a beta of 1.13. 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 fifty-two week low of $55.02 and a fifty-two week high of $98.40. The stock has a fifty day moving average of $73.99 and a two-hundred day moving average of $75.73.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.73) EPS for the quarter, topping 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 net margin of 88.41% and a negative return on equity of 70.67%.

Insider Transactions at Axsome Therapeutics

In other news, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Axsome Therapeutics news, COO Mark L. Jacobson sold 24,662 shares of Axsome Therapeutics stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $77.24, for a total transaction of $1,904,892.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Roger Jeffs sold 29,976 shares of the firm’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 sale, the director now owns 120,756 shares of the company’s stock, valued at $8,416,693.20. The disclosure for this sale can be found here. Corporate insiders own 24.50% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Washington Trust Advisors Inc. acquired a new position in Axsome Therapeutics in the 4th quarter valued at $26,000. Fifth Third Bancorp boosted its stake in Axsome Therapeutics by 100.0% in the 3rd quarter. Fifth Third Bancorp now owns 400 shares of the company’s stock valued at $28,000 after buying an additional 200 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Axsome Therapeutics by 5,550.0% during the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock valued at $63,000 after purchasing an additional 777 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Axsome Therapeutics by 110.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,204 shares of the company’s stock valued at $84,000 after purchasing an additional 633 shares during the period. Finally, Janiczek Wealth Management LLC bought a new position in Axsome Therapeutics in the first quarter valued at approximately $97,000. Institutional investors and hedge funds 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.