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

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Equities researchers at Leerink Partnrs cut their Q2 2024 earnings estimates for Axsome Therapeutics in a research note issued to investors on Monday, May 6th. Leerink Partnrs analyst M. Goodman now expects that the company will earn ($1.46) per share for the quarter, down from their previous estimate of ($1.26). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($3.75) per share. Leerink Partnrs also issued estimates for Axsome Therapeutics’ Q3 2024 earnings at ($1.35) EPS, Q4 2024 earnings at ($1.35) EPS, FY2024 earnings at ($5.25) EPS and FY2025 earnings at ($2.70) EPS.

Several other brokerages have also issued reports on AXSM. Citigroup dropped their price target on Axsome Therapeutics from $127.00 to $125.00 and set a “buy” rating for the company in a research note on Tuesday. 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. Morgan Stanley upgraded shares of Axsome Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $90.00 to $115.00 in a research report on Monday, April 29th. Mizuho lowered their price objective on shares of Axsome Therapeutics from $109.00 to $106.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Guggenheim upped their price objective on shares of Axsome Therapeutics from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.92.

Axsome Therapeutics Stock Performance

NASDAQ AXSM opened at $73.68 on Thursday. Axsome Therapeutics has a 52-week low of $55.02 and a 52-week high of $98.40. The company has a fifty day moving average of $73.84 and a 200-day moving average of $75.72. The company has a market capitalization of $3.50 billion, a P/E ratio of -11.55 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 (NASDAQ:AXSM) last released 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 analysts’ expectations of $70.38 million. Axsome Therapeutics had a negative net margin of 88.41% and a negative return on equity of 70.67%.

Insiders Place Their Bets

In other news, COO Mark L. Jacobson sold 24,662 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were 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 can be accessed through the SEC website. In related news, COO Mark L. Jacobson sold 24,662 shares of the firm’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 can be accessed through this hyperlink. Also, Director Roger Jeffs sold 29,976 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 120,756 shares of the company’s stock, valued at approximately $8,416,693.20. The disclosure for this sale can be found here. Insiders own 24.50% of the company’s stock.

Institutional Trading of Axsome Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Washington Trust Advisors Inc. bought a new position in Axsome Therapeutics in the 4th quarter worth $26,000. Fifth Third Bancorp increased its position in shares of Axsome Therapeutics by 100.0% during 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 period. Russell Investments Group Ltd. raised its stake in Axsome Therapeutics by 5,550.0% in the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after buying an additional 777 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in Axsome Therapeutics by 110.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,204 shares of the company’s stock worth $84,000 after buying an additional 633 shares during the period. Finally, Janiczek Wealth Management LLC bought a new stake in Axsome Therapeutics during the 1st quarter valued at approximately $97,000. 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.