HC Wainwright Has Negative Outlook for AXSM Q2 Earnings

Key Points

• HC Wainwright sharply cut its Q2 2026 EPS estimate for Axsome to ($0.99) from ($0.41) but keeps a "Buy" rating and a $290 target, and forecasts a strong rebound into FY2027 with EPS of $6.47.
• Axsome missed Q1 GAAP EPS at ($1.26) versus a ~($0.85) consensus, yet delivered revenue of $191.2M (up ~57% YoY) driven by AUVELITY and SUNOSI, underscoring commercial strength alongside profitability concerns.
• Analyst coverage is largely positive with an average rating of Moderate Buy and a consensus price target of $251.26, but heavy insider selling and negative margins/ROE pose near‑term sentiment risks.

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) - Equities researchers at HC Wainwright cut their Q2 2026 earnings per share (EPS) estimates for Axsome Therapeutics in a report issued on Tuesday, May 5th. HC Wainwright analyst R. Selvaraju now forecasts that the company will post earnings of ($0.99) per share for the quarter, down from their prior forecast of ($0.41). HC Wainwright currently has a "Buy" rating and a $290.00 target price on the stock. The consensus estimate for Axsome Therapeutics' current full-year earnings is ($1.19) per share. HC Wainwright also issued estimates for Axsome Therapeutics' Q3 2026 earnings at ($0.91) EPS, Q4 2026 earnings at ($0.74) EPS, FY2026 earnings at ($3.89) EPS, Q1 2027 earnings at $0.05 EPS, Q2 2027 earnings at $1.30 EPS, Q3 2027 earnings at $2.30 EPS, Q4 2027 earnings at $2.81 EPS and FY2027 earnings at $6.47 EPS.

A number of other research firms have also weighed in on AXSM. Guggenheim boosted their price objective on Axsome Therapeutics from $245.00 to $260.00 and gave the stock a "buy" rating in a research note on Monday. Piper Sandler reissued an "overweight" rating and set a $258.00 price objective on shares of Axsome Therapeutics in a research note on Monday. Truist Financial raised Axsome Therapeutics to a "strong-buy" rating in a research note on Wednesday, March 25th. Weiss Ratings reissued a "sell (d-)" rating on shares of Axsome Therapeutics in a research note on Monday, April 20th. Finally, Robert W. Baird boosted their price objective on Axsome Therapeutics from $241.00 to $246.00 and gave the stock an "outperform" rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Axsome Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $251.26.

Axsome Therapeutics Stock Performance

NASDAQ AXSM opened at $222.63 on Thursday. The stock's fifty day moving average is $172.69 and its two-hundred day moving average is $164.03. The firm has a market capitalization of $11.46 billion, a P/E ratio of -59.69 and a beta of 0.59. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.48 and a current ratio of 1.39. Axsome Therapeutics has a fifty-two week low of $96.09 and a fifty-two week high of $234.29.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing analysts' consensus estimates of ($0.85) by ($0.41). The company had revenue of $191.20 million for the quarter, compared to analyst estimates of $191.10 million. Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.Axsome Therapeutics's quarterly revenue was up 57.4% compared to the same quarter last year.

Insider Activity

In other news, insider Ari Maizel sold 7,500 shares of the company's stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $182.42, for a total value of $1,368,150.00. Following the transaction, the insider owned 7,500 shares of the company's stock, valued at $1,368,150. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Mark L. Jacobson sold 35,378 shares of the company's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $161.88, for a total value of $5,726,990.64. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 72,628 shares of company stock valued at $12,205,662 in the last quarter. Insiders own 20.60% of the company's stock.

Hedge Funds Weigh In On Axsome Therapeutics

Large investors have recently modified their holdings of the business. Versant Capital Management Inc lifted its stake in shares of Axsome Therapeutics by 20,300.0% in the 3rd quarter. Versant Capital Management Inc now owns 204 shares of the company's stock valued at $25,000 after purchasing an additional 203 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of Axsome Therapeutics in the 4th quarter valued at $31,000. First Horizon Corp purchased a new stake in shares of Axsome Therapeutics in the 3rd quarter valued at $34,000. Optiver Holding B.V. raised its holdings in shares of Axsome Therapeutics by 82.3% in the 3rd quarter. Optiver Holding B.V. now owns 288 shares of the company's stock valued at $35,000 after buying an additional 130 shares during the period. Finally, Ameriflex Group Inc. purchased a new stake in shares of Axsome Therapeutics in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 81.49% of the company's stock.

Key Headlines Impacting Axsome Therapeutics

Here are the key news stories impacting Axsome Therapeutics this week:

• Positive Sentiment: Strong commercial traction — Axsome reported Q1 product revenue of $191.2M, up ~57% year‑over‑year driven by AUVELITY and SUNOSI, which supports the company’s growth narrative and near‑term cash generation. Read More.
• Positive Sentiment: Analyst optimism and price‑target lifts — multiple firms raised targets (notably Mizuho to $310, Wells Fargo to $255, Baird and others), and coverage remains skewed positive, which can support upside momentum and bid interest. Read More.
• Neutral Sentiment: Management outreach scheduled — Axsome will participate in May investor conferences (including a BofA fireside chat), offering additional investor access but uncertain immediate impact. Read More.
• Neutral Sentiment: Earnings detail and call transcript available — analysts are parsing the conference call and guidance implications; deeper read may resolve questions around sales cadence and expense trajectory. Read More.
• Negative Sentiment: Profitability miss — GAAP EPS of ($1.26) missed consensus (~$0.85 loss), and negative margins/ROE highlight near‑term profitability and cost structure concerns despite revenue strength. Read More.
• Negative Sentiment: Insider selling — COO Mark Jacobson disclosed sales (large blocks on May 4 and a smaller sale May 5), which may raise short‑term sentiment questions even though filers report remaining holdings. Read More.
• Negative Sentiment: Durability concerns — some analysts/commentators question sequential product sales trends and achievability of peak revenue assumptions, which could temper multiple expansion absent clearer margin improvements. Read More.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome's pipeline includes several late-stage and approved product candidates.

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