Research Analysts Set Expectations for AXSM Q3 Earnings

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Equities researchers at William Blair reduced their Q3 2024 earnings per share estimates for shares of Axsome Therapeutics in a research note issued on Tuesday, November 12th. William Blair analyst M. Minter now forecasts that the company will post earnings of ($1.41) per share for the quarter, down from their previous forecast of ($1.30). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($5.12) per share. William Blair also issued estimates for Axsome Therapeutics’ Q4 2024 earnings at ($1.15) EPS, FY2024 earnings at ($4.80) EPS, Q1 2025 earnings at ($1.10) EPS, Q2 2025 earnings at ($0.66) EPS, Q3 2025 earnings at ($0.31) EPS, Q4 2025 earnings at $0.18 EPS and FY2025 earnings at ($1.88) EPS.

A number of other analysts have also issued reports on the company. Royal Bank of Canada raised their target price on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 price target on shares of Axsome Therapeutics in a report on Tuesday. HC Wainwright reissued a “buy” rating and set a $180.00 price objective on shares of Axsome Therapeutics in a report on Thursday, September 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 target price on shares of Axsome Therapeutics in a research note on Monday, September 16th. Finally, StockNews.com downgraded shares of Axsome Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $124.93.

Axsome Therapeutics Stock Performance

AXSM opened at $97.83 on Thursday. The company has a market cap of $4.65 billion, a PE ratio of -14.98 and a beta of 1.26. Axsome Therapeutics has a 52-week low of $56.66 and a 52-week high of $105.00. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.40 and a current ratio of 2.44. The stock has a 50-day moving average of $90.59 and a 200-day moving average of $84.05.

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

Insider Activity at Axsome Therapeutics

In related news, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were 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 in the company, valued at $913,282.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 22.40% of the company’s stock.

Institutional Trading of Axsome Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. bought a new position in shares of Axsome Therapeutics in the 2nd quarter valued at about $27,000. EntryPoint Capital LLC acquired a new stake in Axsome Therapeutics during the 1st quarter worth $35,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Axsome Therapeutics during the 2nd quarter valued at $47,000. Russell Investments Group Ltd. lifted its stake in shares of Axsome Therapeutics by 5,550.0% in the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock valued at $63,000 after purchasing an additional 777 shares during the period. Finally, Covestor Ltd boosted its position in shares of Axsome Therapeutics by 54,750.0% in the 1st quarter. Covestor Ltd now owns 1,097 shares of the company’s stock worth $88,000 after purchasing an additional 1,095 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.