Zacks Research Brokers Reduce Earnings Estimates for AXSM

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Equities researchers at Zacks Research reduced their Q3 2024 earnings per share (EPS) estimates for shares of Axsome Therapeutics in a note issued to investors on Monday, October 21st. Zacks Research analyst R. Department now expects that the company will earn ($1.52) per share for the quarter, down from their prior estimate of ($1.42). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($4.73) per share. Zacks Research also issued estimates for Axsome Therapeutics’ Q4 2024 earnings at ($1.31) EPS, FY2024 earnings at ($5.16) EPS, Q1 2025 earnings at ($1.52) EPS, Q2 2025 earnings at ($1.33) EPS, Q3 2025 earnings at ($0.83) EPS, Q4 2025 earnings at ($0.47) EPS, FY2025 earnings at ($4.15) EPS, Q1 2026 earnings at ($0.59) EPS, Q2 2026 earnings at ($0.02) EPS and Q3 2026 earnings at $0.83 EPS.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Monday, August 5th. The company reported ($1.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.30) by $0.06. Axsome Therapeutics had a negative net margin of 105.85% and a negative return on equity of 117.46%. The company had revenue of $87.17 million during the quarter, compared to the consensus estimate of $84.53 million.

Several other research firms have also recently commented on AXSM. Needham & Company LLC restated a “buy” rating and issued a $130.00 target price on shares of Axsome Therapeutics in a research report on Thursday, September 5th. UBS Group lowered their price target on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Wells Fargo & Company assumed coverage on shares of Axsome Therapeutics in a report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $180.00 target price on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Finally, StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.64.

Axsome Therapeutics Trading Up 1.0 %

Axsome Therapeutics stock opened at $92.40 on Wednesday. The company has a quick ratio of 2.40, a current ratio of 2.48 and a debt-to-equity ratio of 1.77. The firm has a 50-day moving average price of $89.80 and a two-hundred day moving average price of $81.82. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of -14.48 and a beta of 1.26. Axsome Therapeutics has a 52-week low of $55.02 and a 52-week high of $98.40.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Creative Planning grew its stake in Axsome Therapeutics by 29.8% during the 3rd quarter. Creative Planning now owns 10,854 shares of the company’s stock valued at $975,000 after acquiring an additional 2,489 shares in the last quarter. Handelsbanken Fonder AB grew its position in Axsome Therapeutics by 19.4% during the third quarter. Handelsbanken Fonder AB now owns 12,300 shares of the company’s stock valued at $1,105,000 after purchasing an additional 2,000 shares in the last quarter. SG Americas Securities LLC acquired a new position in Axsome Therapeutics in the 3rd quarter valued at approximately $1,038,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Axsome Therapeutics in the 2nd quarter valued at approximately $47,000. Finally, Clearbridge Investments LLC lifted its position in Axsome Therapeutics by 19.5% in the 2nd quarter. Clearbridge Investments LLC now owns 106,767 shares of the company’s stock worth $8,595,000 after buying an additional 17,397 shares in the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the sale, the director now owns 10,002 shares in the company, valued at approximately $913,282.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Mark E. Saad sold 11,016 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total value of $1,005,870.96. Following the transaction, the director now directly owns 10,002 shares of the company’s stock, valued at $913,282.62. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Mark L. Jacobson sold 47,739 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the completion of the sale, the chief operating officer now owns 5,783 shares of the company’s stock, valued at approximately $487,275.58. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 22.40% of the stock is currently owned by corporate insiders.

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.