Equities Analysts Issue Forecasts for Axsome Therapeutics, Inc.’s Q1 2024 Earnings (NASDAQ:AXSM)

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Equities researchers at Leerink Partnrs dropped their Q1 2024 EPS estimates for shares of Axsome Therapeutics in a note issued to investors on Tuesday, April 9th. Leerink Partnrs analyst M. Goodman now forecasts that the company will earn ($1.33) per share for the quarter, down from their prior forecast of ($1.30). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($3.73) per share. Leerink Partnrs also issued estimates for Axsome Therapeutics’ Q2 2024 earnings at ($1.26) EPS, Q3 2024 earnings at ($0.93) EPS, Q4 2024 earnings at ($0.78) EPS and FY2024 earnings at ($4.30) EPS.

Several other analysts also recently commented on AXSM. Royal Bank of Canada increased their price objective on shares of Axsome Therapeutics from $123.00 to $128.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Truist Financial reissued a “buy” rating and set a $150.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, March 26th. UBS Group initiated coverage on shares of Axsome Therapeutics in a research report on Tuesday, February 6th. They set a “buy” rating and a $111.00 price objective on the stock. HC Wainwright restated a “buy” rating and set a $190.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, April 2nd. Finally, Robert W. Baird initiated coverage on shares of Axsome Therapeutics in a research note on Tuesday, March 19th. They set an “outperform” rating and a $108.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $119.67.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $69.15 on Friday. Axsome Therapeutics has a one year low of $55.02 and a one year high of $98.40. The company’s 50-day moving average is $80.16 and its 200 day moving average is $75.16. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of -13.30 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.

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

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in Axsome Therapeutics by 1.3% during the 4th quarter. Principal Financial Group Inc. now owns 9,497 shares of the company’s stock worth $756,000 after acquiring an additional 120 shares during the period. CIBC Private Wealth Group LLC raised its stake in Axsome Therapeutics by 0.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 17,999 shares of the company’s stock worth $1,433,000 after acquiring an additional 135 shares during the period. AQR Capital Management LLC raised its stake in Axsome Therapeutics by 1.7% during the 1st quarter. AQR Capital Management LLC now owns 8,825 shares of the company’s stock worth $544,000 after acquiring an additional 148 shares during the period. American International Group Inc. raised its stake in Axsome Therapeutics by 0.9% during the 4th quarter. American International Group Inc. now owns 17,721 shares of the company’s stock worth $1,410,000 after acquiring an additional 162 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in Axsome Therapeutics by 21.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 993 shares of the company’s stock worth $71,000 after acquiring an additional 178 shares during the period. Institutional investors own 81.49% of the company’s stock.

Insider Transactions at Axsome Therapeutics

In other news, COO Mark L. Jacobson sold 24,662 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $77.24, for a total value of $1,904,892.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, COO Mark L. Jacobson sold 24,662 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $77.24, for a total value of $1,904,892.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Roger Jeffs sold 29,976 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the completion of the transaction, the director now owns 120,756 shares in the company, valued at approximately $8,416,693.20. The disclosure for this sale can be found here. Company insiders own 24.50% 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.