FY2024 Earnings Forecast for AXSM Issued By Leerink Partnrs

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Investment analysts at Leerink Partnrs boosted their FY2024 earnings estimates for shares of Axsome Therapeutics in a research note issued to investors on Wednesday, January 29th. Leerink Partnrs analyst M. Goodman now anticipates that the company will post earnings per share of ($4.72) for the year, up from their previous forecast of ($4.77). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($4.73) per share. Leerink Partnrs also issued estimates for Axsome Therapeutics’ Q4 2024 earnings at ($1.05) EPS, FY2025 earnings at ($4.30) EPS, FY2026 earnings at $0.00 EPS, FY2027 earnings at $4.15 EPS and FY2028 earnings at $10.10 EPS.

Several other research firms have also commented on AXSM. Truist Financial raised their target price on Axsome Therapeutics from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, January 13th. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Robert W. Baird raised their price target on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Needham & Company LLC reissued a “buy” rating and set a $133.00 target price on shares of Axsome Therapeutics in a research note on Monday, January 13th. Finally, HC Wainwright restated a “buy” rating and issued a $180.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $131.31.

Axsome Therapeutics Stock Up 3.5 %

AXSM stock opened at $108.85 on Friday. The company has a market capitalization of $5.27 billion, a P/E ratio of -16.67 and a beta of 1.04. The firm’s fifty day simple moving average is $93.41 and its 200-day simple moving average is $90.64. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $111.51. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. During the same period last year, the business posted ($1.32) earnings per share.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sei Investments Co. increased its holdings in Axsome Therapeutics by 13.9% in the second quarter. Sei Investments Co. now owns 40,624 shares of the company’s stock valued at $3,270,000 after buying an additional 4,970 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Axsome Therapeutics during the 2nd quarter worth about $849,000. The Manufacturers Life Insurance Company increased its holdings in shares of Axsome Therapeutics by 4.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,901 shares of the company’s stock valued at $1,844,000 after acquiring an additional 999 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Axsome Therapeutics during the 2nd quarter worth about $250,000. Finally, Creative Planning lifted its stake in Axsome Therapeutics by 15.9% during the second quarter. Creative Planning now owns 8,365 shares of the company’s stock worth $673,000 after purchasing an additional 1,149 shares during the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

About Axsome Therapeutics

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.