Leerink Partnrs Issues Positive Forecast for AXSM Earnings

Key Points

• Leerink Partnrs increased their FY2027 EPS estimate for Axsome Therapeutics from $4.15 to $4.40, with further projections of $10.10 for FY2028 and $18.50 for FY2029.
• Despite a negative net margin of 49.88%, Axsome reported Q2 revenue of $150.04 million, surpassing analysts' expectations.
• Axsome Therapeutics has garnered a consensus rating of "Buy" from research analysts, with a target price of approximately $177.93.

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) - Research analysts at Leerink Partnrs boosted their FY2027 EPS estimates for shares of Axsome Therapeutics in a research report issued on Monday, October 6th. Leerink Partnrs analyst M. Goodman now expects that the company will earn $4.40 per share for the year, up from their previous forecast of $4.15. The consensus estimate for Axsome Therapeutics' current full-year earnings is ($2.79) per share. Leerink Partnrs also issued estimates for Axsome Therapeutics' FY2028 earnings at $10.10 EPS and FY2029 earnings at $18.50 EPS.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.08. Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. The company had revenue of $150.04 million for the quarter, compared to analysts' expectations of $140.02 million.

A number of other research firms have also recently commented on AXSM. Needham & Company LLC reiterated a "buy" rating and issued a $150.00 target price on shares of Axsome Therapeutics in a research note on Monday, August 4th. HC Wainwright restated a "buy" rating and issued a $180.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, June 10th. Wells Fargo & Company upgraded Axsome Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 3rd. Royal Bank Of Canada upped their target price on Axsome Therapeutics from $184.00 to $189.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Finally, Bank of America raised their price target on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Axsome Therapeutics currently has an average rating of "Buy" and a consensus price target of $177.93.

Axsome Therapeutics Stock Down 1.1%

Shares of Axsome Therapeutics stock opened at $118.64 on Wednesday. The stock has a market cap of $5.92 billion, a price-to-earnings ratio of -23.40 and a beta of 0.52. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.57 and a quick ratio of 1.51. Axsome Therapeutics has a 1 year low of $75.56 and a 1 year high of $139.13. The firm's 50-day moving average is $115.69 and its two-hundred day moving average is $109.97.

Institutional Trading of Axsome Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AXSM. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Axsome Therapeutics in the first quarter valued at about $25,000. NBC Securities Inc. acquired a new stake in shares of Axsome Therapeutics in the first quarter valued at about $31,000. Quantbot Technologies LP acquired a new stake in shares of Axsome Therapeutics in the first quarter valued at about $31,000. AlphaQuest LLC acquired a new stake in shares of Axsome Therapeutics in the first quarter valued at about $38,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of Axsome Therapeutics in the first quarter valued at about $41,000. Institutional investors and hedge funds own 81.49% of the company's stock.

Insider Buying and Selling

In related news, CEO Herriot Tabuteau sold 27,907 shares of the firm's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $118.96, for a total transaction of $3,319,816.72. Following the sale, the chief executive officer owned 7,229 shares in the company, valued at approximately $859,961.84. This trade represents a 79.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roger Jeffs sold 20,000 shares of the firm's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $121.60, for a total transaction of $2,432,000.00. Following the sale, the director owned 90,974 shares in the company, valued at approximately $11,062,438.40. This represents a 18.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 197,948 shares of company stock valued at $23,406,686 in the last ninety days. Insiders own 22.40% of the company's stock.

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.

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