Leerink Partnrs Issues Optimistic Forecast for AXSM Earnings

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) - Equities researchers at Leerink Partnrs boosted their FY2029 earnings per share (EPS) estimates for shares of Axsome Therapeutics in a note issued to investors on Thursday, July 10th. Leerink Partnrs analyst M. Goodman now expects that the company will earn $15.85 per share for the year, up from their prior estimate of $15.40. The consensus estimate for Axsome Therapeutics' current full-year earnings is ($2.79) per share.

AXSM has been the topic of several other reports. Oppenheimer began coverage on Axsome Therapeutics in a research report on Tuesday, June 3rd. They issued an "outperform" rating and a $185.00 target price on the stock. Mizuho lifted their price target on Axsome Therapeutics from $212.00 to $216.00 and gave the company an "outperform" rating in a research report on Thursday, March 27th. Jefferies Financial Group began coverage on Axsome Therapeutics in a research report on Monday, April 7th. They set a "buy" rating and a $200.00 price target on the stock. Morgan Stanley began coverage on Axsome Therapeutics in a research report on Thursday, July 3rd. They set an "overweight" rating and a $190.00 price target on the stock. Finally, HC Wainwright reiterated a "buy" rating and set a $180.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, June 10th. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Axsome Therapeutics presently has an average rating of "Buy" and a consensus target price of $172.33.

Axsome Therapeutics Stock Down 1.6%

AXSM opened at $108.98 on Monday. Axsome Therapeutics has a 12 month low of $72.21 and a 12 month high of $139.13. The company has a debt-to-equity ratio of 3.48, a current ratio of 2.03 and a quick ratio of 1.96. The stock has a market cap of $5.37 billion, a P/E ratio of -18.89 and a beta of 0.46. The stock's 50 day moving average price is $106.51 and its 200 day moving average price is $108.56.

Insider Buying and Selling at Axsome Therapeutics

In other news, COO Mark L. Jacobson sold 25,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $110.44, for a total value of $2,761,000.00. Following the transaction, the chief operating officer directly owned 5,783 shares of the company's stock, valued at $638,674.52. The trade was a 81.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Coleman sold 3,750 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $105.47, for a total value of $395,512.50. Following the completion of the transaction, the director directly owned 50,387 shares in the company, valued at $5,314,316.89. The trade was a 6.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 93,437 shares of company stock valued at $9,834,215. 22.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Pallas Capital Advisors LLC raised its position in Axsome Therapeutics by 7.1% in the 2nd quarter. Pallas Capital Advisors LLC now owns 37,772 shares of the company's stock worth $3,943,000 after purchasing an additional 2,492 shares during the last quarter. Rhumbline Advisers raised its position in shares of Axsome Therapeutics by 6.9% during the 1st quarter. Rhumbline Advisers now owns 54,760 shares of the company's stock valued at $6,387,000 after acquiring an additional 3,515 shares during the last quarter. Strs Ohio bought a new stake in shares of Axsome Therapeutics during the 1st quarter valued at $1,213,000. McAdam LLC bought a new stake in shares of Axsome Therapeutics during the 1st quarter valued at $256,000. Finally, Intech Investment Management LLC raised its position in shares of Axsome Therapeutics by 26.6% during the 1st quarter. Intech Investment Management LLC now owns 20,298 shares of the company's stock valued at $2,367,000 after acquiring an additional 4,270 shares during the last quarter. Institutional investors 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.

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