Q2 2024 EPS Estimates for Axsome Therapeutics, Inc. Boosted by Analyst (NASDAQ:AXSM)

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Stock analysts at Zacks Research lifted their Q2 2024 earnings per share estimates for shares of Axsome Therapeutics in a research report issued to clients and investors on Wednesday, July 24th. Zacks Research analyst R. Department now expects that the company will post earnings of ($1.41) per share for the quarter, up from their previous estimate of ($1.43). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($4.65) per share. Zacks Research also issued estimates for Axsome Therapeutics’ Q3 2024 earnings at ($1.21) EPS, Q4 2024 earnings at ($1.12) EPS, FY2024 earnings at ($4.82) EPS, Q1 2025 earnings at ($1.05) EPS, Q2 2025 earnings at ($1.17) EPS, Q3 2025 earnings at ($0.55) EPS, Q4 2025 earnings at ($0.08) EPS, FY2025 earnings at ($2.85) EPS, Q2 2026 earnings at $0.23 EPS and FY2026 earnings at $2.73 EPS.

AXSM has been the topic of several other reports. Mizuho reissued a “buy” rating and set a $106.00 price target on shares of Axsome Therapeutics in a research note on Wednesday, June 12th. Morgan Stanley raised Axsome Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $90.00 to $115.00 in a research note on Monday, April 29th. HC Wainwright restated a “buy” rating and set a $190.00 target price on shares of Axsome Therapeutics in a research report on Thursday, June 6th. Citigroup decreased their price target on Axsome Therapeutics from $127.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $131.00 price objective on shares of Axsome Therapeutics in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Axsome Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $123.85.

Axsome Therapeutics Trading Up 0.6 %

AXSM opened at $86.53 on Friday. Axsome Therapeutics has a 1-year low of $55.02 and a 1-year high of $98.40. The stock has a market capitalization of $4.11 billion, a PE ratio of -13.56 and a beta of 1.26. The company has a current ratio of 3.20, a quick ratio of 3.09 and a debt-to-equity ratio of 1.25. The firm has a 50-day moving average price of $78.54 and a two-hundred day moving average price of $79.45.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, May 6th. The company reported ($1.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.11. The company had revenue of $75.00 million during the quarter, compared to analyst estimates of $69.91 million. Axsome Therapeutics had a negative return on equity of 87.17% and a negative net margin of 118.07%.

Institutional Investors Weigh In On Axsome Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Perceptive Advisors LLC grew its holdings in shares of Axsome Therapeutics by 115.5% in the 4th quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock valued at $82,616,000 after acquiring an additional 556,370 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Axsome Therapeutics by 57.4% in the fourth quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock valued at $66,633,000 after purchasing an additional 305,264 shares in the last quarter. First Turn Management LLC acquired a new position in shares of Axsome Therapeutics during the 4th quarter worth approximately $23,513,000. Norges Bank bought a new stake in shares of Axsome Therapeutics during the 4th quarter worth approximately $15,530,000. Finally, Avidity Partners Management LP boosted its holdings in shares of Axsome Therapeutics by 54.8% in the 4th quarter. Avidity Partners Management LP now owns 459,400 shares of the company’s stock valued at $36,564,000 after buying an additional 162,600 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Axsome Therapeutics

In related news, COO Mark L. Jacobson sold 7,910 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $74.31, for a total value of $587,792.10. Following the completion of the sale, the chief operating officer now owns 5,783 shares in the company, valued at approximately $429,734.73. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, COO Mark L. Jacobson sold 7,910 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $74.31, for a total transaction of $587,792.10. Following the completion of the sale, the chief operating officer now owns 5,783 shares of the company’s stock, valued at $429,734.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark Coleman sold 5,249 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $75.21, for a total value of $394,777.29. Following the transaction, the director now owns 19,848 shares of the company’s stock, valued at approximately $1,492,768.08. The disclosure for this sale can be found here. Corporate insiders own 22.40% of the company’s stock.

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.