Research Analysts Offer Predictions for AXSM FY2024 Earnings

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Equities research analysts at HC Wainwright lifted their FY2024 EPS estimates for Axsome Therapeutics in a report released on Monday, November 25th. HC Wainwright analyst R. Selvaraju now anticipates that the company will earn ($4.60) per share for the year, up from their prior estimate of ($5.25). HC Wainwright has a “Buy” rating and a $180.00 price objective on the stock. The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($4.75) per share. HC Wainwright also issued estimates for Axsome Therapeutics’ Q4 2024 earnings at ($0.94) EPS, Q1 2025 earnings at ($0.81) EPS, Q2 2025 earnings at ($0.44) EPS, Q3 2025 earnings at $0.03 EPS, Q4 2025 earnings at $0.79 EPS and FY2025 earnings at ($0.41) EPS.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.04. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The business had revenue of $104.76 million during the quarter, compared to the consensus estimate of $98.71 million. During the same period in the previous year, the company posted ($1.32) earnings per share.

A number of other equities research analysts have also recently commented on the stock. UBS Group reduced their price target on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 target price on shares of Axsome Therapeutics in a research report on Monday, September 16th. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price target on shares of Axsome Therapeutics in a report on Tuesday, November 12th. Bank of America upgraded Axsome Therapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $95.00 to $106.00 in a report on Tuesday, August 6th. Finally, Royal Bank of Canada upped their target price on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $124.93.

Axsome Therapeutics Stock Performance

NASDAQ:AXSM opened at $97.03 on Wednesday. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. Axsome Therapeutics has a twelve month low of $61.14 and a twelve month high of $105.00. The company has a fifty day moving average of $91.09 and a 200-day moving average of $85.30. The firm has a market capitalization of $4.70 billion, a P/E ratio of -14.86 and a beta of 1.26.

Insiders Place Their Bets

In other news, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction on 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 completion of the sale, the director now directly owns 10,002 shares of the company’s stock, valued at $913,282.62. This trade represents a 52.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 22.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Axsome Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock valued at $298,474,000 after acquiring an additional 43,512 shares during the period. FMR LLC grew its holdings in Axsome Therapeutics by 20.6% during the third quarter. FMR LLC now owns 1,088,087 shares of the company’s stock valued at $97,786,000 after purchasing an additional 185,951 shares during the period. Geode Capital Management LLC increased its position in Axsome Therapeutics by 2.7% in the third quarter. Geode Capital Management LLC now owns 908,459 shares of the company’s stock worth $81,659,000 after buying an additional 23,564 shares during the last quarter. Wellington Management Group LLP increased its position in Axsome Therapeutics by 1.1% in the third quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock worth $66,750,000 after buying an additional 8,125 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of Axsome Therapeutics by 1.4% in the second quarter. Millennium Management LLC now owns 739,819 shares of the company’s stock valued at $59,555,000 after buying an additional 10,401 shares during the period. 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.