Leerink Partnrs Issues Positive Forecast for AXSM Earnings

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Analysts at Leerink Partnrs increased their FY2024 earnings per share (EPS) estimates for Axsome Therapeutics in a report issued on Tuesday, November 12th. Leerink Partnrs analyst M. Goodman now expects that the company will post earnings per share of ($4.77) for the year, up from their previous forecast of ($4.97). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($5.12) per share. Leerink Partnrs also issued estimates for Axsome Therapeutics’ Q4 2024 earnings at ($1.10) EPS, FY2025 earnings at ($3.10) EPS and FY2026 earnings at $0.35 EPS.

AXSM has been the topic of several other reports. Robert W. Baird upped their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday. Bank of America raised Axsome Therapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $95.00 to $106.00 in a research report on Tuesday, August 6th. StockNews.com lowered Axsome Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $130.00 price target on shares of Axsome Therapeutics in a report on Tuesday. Finally, Royal Bank of Canada increased their price objective on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, October 4th. One analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.93.

Axsome Therapeutics Price Performance

AXSM opened at $97.37 on Friday. The stock’s 50-day moving average price is $90.59 and its 200 day moving average price is $84.05. The company has a current ratio of 2.44, a quick ratio of 2.40 and a debt-to-equity ratio of 1.97. Axsome Therapeutics has a 12-month low of $56.66 and a 12-month high of $105.00. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of -14.96 and a beta of 1.26.

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

Insider Transactions at Axsome Therapeutics

In related news, Director Mark E. Saad sold 11,016 shares of the company’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 transaction, the director now owns 10,002 shares of the company’s stock, valued at $913,282.62. This represents a 52.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of AXSM. Natixis boosted its stake in shares of Axsome Therapeutics by 13.6% during the 1st quarter. Natixis now owns 1,235 shares of the company’s stock worth $99,000 after acquiring an additional 148 shares in the last quarter. Arizona State Retirement System boosted its position in Axsome Therapeutics by 2.1% during the second quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock worth $695,000 after purchasing an additional 177 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Axsome Therapeutics by 22.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after purchasing an additional 318 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in Axsome Therapeutics in the second quarter valued at $27,000. Finally, WCM Investment Management LLC increased its position in shares of Axsome Therapeutics by 0.3% in the third quarter. WCM Investment Management LLC now owns 113,692 shares of the company’s stock valued at $10,191,000 after buying an additional 347 shares in the last quarter. Institutional investors and hedge funds 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.