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

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Equities research analysts at William Blair lowered their Q2 2024 earnings per share (EPS) estimates for shares of Axsome Therapeutics in a research note issued to investors on Monday, May 6th. William Blair analyst M. Minter now expects that the company will earn ($1.35) per share for the quarter, down from their previous forecast 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.

Several other equities analysts also recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a research report on Wednesday, April 10th. Royal Bank of Canada upped their price objective on Axsome Therapeutics from $123.00 to $128.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Mizuho cut their price objective on Axsome Therapeutics from $109.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday. UBS Group started coverage on Axsome Therapeutics in a research report on Tuesday, February 6th. They issued a “buy” rating and a $111.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and set a $190.00 price target on shares of Axsome Therapeutics in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $121.92.

Axsome Therapeutics Stock Performance

NASDAQ AXSM opened at $75.68 on Thursday. The company has a market cap of $3.59 billion, a P/E 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. The business’s 50 day moving average price is $73.99 and its 200-day moving average price is $75.73. Axsome Therapeutics has a fifty-two week low of $55.02 and a fifty-two week high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.21) by $0.48. The business had revenue of $71.53 million for the quarter, compared to analysts’ expectations of $70.38 million. Axsome Therapeutics had a negative return on equity of 70.67% and a negative net margin of 88.41%.

Insider Activity

In related news, COO Mark L. Jacobson sold 24,662 shares of the company’s 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 document filed with the SEC, which can be accessed through this link. In other news, Director Roger Jeffs sold 29,976 shares of the company’s stock in a transaction 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 sale, the director now directly owns 120,756 shares of the company’s stock, valued at approximately $8,416,693.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Mark L. Jacobson sold 24,662 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. Company insiders own 24.50% of the company’s stock.

Institutional Trading of Axsome Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its holdings in Axsome Therapeutics by 9.0% during the first quarter. ProShare Advisors LLC now owns 9,724 shares of the company’s stock worth $776,000 after buying an additional 800 shares in the last quarter. Russell Investments Group Ltd. raised its position in Axsome Therapeutics by 5,550.0% during the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after acquiring an additional 777 shares during the period. Sei Investments Co. raised its position in Axsome Therapeutics by 8.2% during the first quarter. Sei Investments Co. now owns 35,654 shares of the company’s stock worth $2,845,000 after acquiring an additional 2,697 shares during the period. SG Americas Securities LLC raised its position in Axsome Therapeutics by 605.5% during the first quarter. SG Americas Securities LLC now owns 15,104 shares of the company’s stock worth $1,205,000 after acquiring an additional 12,963 shares during the period. Finally, Mutual of America Capital Management LLC raised its position in Axsome Therapeutics by 20.4% during the first quarter. Mutual of America Capital Management LLC now owns 41,620 shares of the company’s stock worth $3,321,000 after acquiring an additional 7,042 shares during the period. 81.49% of the stock is owned by hedge funds and other institutional investors.

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.