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

Axsome Therapeutics, Inc. (NASDAQ:AXSMFree Report) – Equities research analysts at William Blair increased their Q1 2024 earnings per share estimates for shares of Axsome Therapeutics in a 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 ($3.81) per share. William Blair also issued estimates for Axsome Therapeutics’ FY2024 earnings at ($4.03) EPS.

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

Several other research analysts also recently weighed in on the company. Royal Bank of Canada increased their price target on Axsome Therapeutics from $123.00 to $128.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. HC Wainwright restated a “buy” rating and issued a $190.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, April 2nd. Guggenheim raised their target price on Axsome Therapeutics from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. UBS Group initiated coverage on Axsome Therapeutics in a research note on Tuesday, February 6th. They issued a “buy” rating and a $111.00 target price for the company. Finally, Truist Financial restated a “buy” rating and issued a $150.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Axsome Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $119.67.

Read Our Latest Analysis on AXSM

Axsome Therapeutics Stock Up 3.3 %

AXSM stock opened at $67.90 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.52 and a current ratio of 3.63. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of -13.06 and a beta of 1.13. 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 $77.51 and a 200-day moving average of $75.04.

Hedge Funds Weigh In On Axsome Therapeutics

Large investors have recently modified their holdings of the company. Washington Trust Advisors Inc. purchased a new position in Axsome Therapeutics in the 4th quarter worth approximately $26,000. Harbour Investments Inc. increased its stake in Axsome Therapeutics by 461.5% in the 2nd quarter. Harbour Investments Inc. now owns 365 shares of the company’s stock worth $26,000 after purchasing an additional 300 shares during the period. Fifth Third Bancorp increased its stake in Axsome Therapeutics by 100.0% in the 3rd quarter. Fifth Third Bancorp now owns 400 shares of the company’s stock worth $28,000 after purchasing an additional 200 shares during the period. Captrust Financial Advisors increased its stake in Axsome Therapeutics by 582.0% in the 1st quarter. Captrust Financial Advisors now owns 757 shares of the company’s stock worth $31,000 after purchasing an additional 646 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in shares of Axsome Therapeutics by 141.1% during the first quarter. Tower Research Capital LLC TRC now owns 815 shares of the company’s stock valued at $50,000 after buying an additional 477 shares during the period. 81.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Mark L. Jacobson sold 24,662 shares of Axsome Therapeutics stock in a transaction dated 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 related news, 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 transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Mark L. Jacobson sold 24,662 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $77.24, for a total value of $1,904,892.88. The disclosure for this sale can be found here. Corporate insiders own 24.50% of the company’s stock.

About Axsome Therapeutics

(Get Free Report)

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.

Further Reading

Earnings History and Estimates for Axsome Therapeutics (NASDAQ:AXSM)

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