Leerink Partnrs Research Analysts Decrease Earnings Estimates for Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Analysts at Leerink Partnrs cut their Q2 2024 earnings per share (EPS) estimates for Axsome Therapeutics in a research note issued on Monday, May 6th. Leerink Partnrs analyst M. Goodman now forecasts that the company will post earnings of ($1.46) per share for the quarter, down from their prior forecast of ($1.26). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($3.75) per share. Leerink Partnrs also issued estimates for Axsome Therapeutics’ Q3 2024 earnings at ($1.35) EPS, Q4 2024 earnings at ($1.35) EPS, FY2024 earnings at ($5.25) EPS and FY2025 earnings at ($2.70) EPS.

A number of other research firms have also weighed in on AXSM. Robert W. Baird boosted their target price on Axsome Therapeutics from $108.00 to $112.00 and gave the stock an “outperform” rating in a report on Tuesday. Mizuho lowered their price objective on Axsome Therapeutics from $109.00 to $106.00 and set a “buy” rating for the company in a research report on Wednesday. Truist Financial reaffirmed a “buy” rating and set a $150.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, March 26th. Guggenheim raised their price objective on shares of Axsome Therapeutics from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Finally, HC Wainwright reiterated a “buy” rating and set a $190.00 price target on shares of Axsome Therapeutics in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $121.92.

Axsome Therapeutics Stock Down 1.6 %

Shares of AXSM stock opened at $75.68 on Thursday. The company has a current ratio of 3.63, a quick ratio of 3.52 and a debt-to-equity ratio of 0.93. The firm’s fifty day moving average price is $73.99 and its two-hundred day moving average price is $75.73. The firm has a market capitalization of $3.59 billion, a P/E ratio of -14.55 and a beta of 1.13. Axsome Therapeutics has a 1 year low of $55.02 and a 1 year high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last posted 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. The business had revenue of $71.53 million for the quarter, compared to analysts’ expectations of $70.38 million. Axsome Therapeutics had a negative net margin of 88.41% and a negative return on equity of 70.67%.

Insider Activity

In related news, COO Mark L. Jacobson sold 24,662 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $77.24, for a total transaction of $1,904,892.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, COO Mark L. Jacobson sold 24,662 shares of Axsome Therapeutics stock in a transaction dated Monday, April 1st. The stock was 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 through the SEC website. Also, Director Roger Jeffs sold 29,976 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $69.70, for a total value of $2,089,327.20. Following the transaction, the director now directly owns 120,756 shares of the company’s stock, valued at $8,416,693.20. The disclosure for this sale can be found here. Insiders own 24.50% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

Several institutional investors have recently modified their holdings of the stock. Perceptive Advisors LLC grew its holdings in Axsome Therapeutics by 115.5% during the 4th quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock valued at $82,616,000 after purchasing an additional 556,370 shares during the last quarter. Eventide Asset Management LLC purchased a new stake in Axsome Therapeutics in the third quarter worth $24,232,000. Point72 Asset Management L.P. lifted its position in shares of Axsome Therapeutics by 57.4% during the fourth quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock worth $66,633,000 after purchasing an additional 305,264 shares during the last quarter. First Turn Management LLC purchased a new stake in shares of Axsome Therapeutics during the fourth quarter valued at $23,513,000. Finally, RTW Investments LP grew its holdings in shares of Axsome Therapeutics by 4.8% in the third quarter. RTW Investments LP now owns 4,489,596 shares of the company’s stock worth $313,778,000 after purchasing an additional 205,319 shares during the last quarter. 81.49% of the stock is owned by 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.