Q1 2024 EPS Estimates for Axsome Therapeutics, Inc. (NASDAQ:AXSM) Lifted by William Blair

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) - Equities researchers at William Blair boosted their Q1 2024 earnings estimates for shares of Axsome Therapeutics in a research report issued on Wednesday, April 17th. William Blair analyst M. Minter now forecasts that the company will earn ($1.26) per share for the quarter, up from their prior estimate of ($1.35). The consensus estimate for Axsome Therapeutics' current full-year earnings is ($3.85) per share. William Blair also issued estimates for Axsome Therapeutics' FY2024 earnings at ($4.03) EPS.

AXSM has been the subject of several other research reports. Citigroup increased their price objective on shares of Axsome Therapeutics from $125.00 to $127.00 and gave the company a "buy" rating in a research note on Tuesday, March 26th. 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 note on Tuesday, March 26th. UBS Group assumed coverage on shares of Axsome Therapeutics in a research note on Tuesday, February 6th. They issued a "buy" rating and a $111.00 price objective for the company. Piper Sandler increased their price objective on shares of Axsome Therapeutics from $90.00 to $113.00 and gave the company an "overweight" rating in a research note on Tuesday, January 16th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $190.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $119.67.

Axsome Therapeutics Price Performance

NASDAQ:AXSM traded up $2.18 on Friday, hitting $67.90. The company had a trading volume of 930,832 shares, compared to its average volume of 732,170. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of -12.91 and a beta of 1.13. 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 has a 50 day moving average of $78.09 and a two-hundred day moving average of $75.03. Axsome Therapeutics has a 52 week low of $55.02 and a 52 week high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.73) earnings per share for the quarter, topping analysts' consensus estimates of ($1.21) by $0.48. The company had revenue of $71.53 million during the quarter, compared to the consensus estimate of $70.38 million. Axsome Therapeutics had a negative net margin of 88.41% and a negative return on equity of 70.67%.

Insiders Place Their Bets

In other Axsome Therapeutics news, Director Roger Jeffs sold 29,976 shares of the firm's stock in a transaction 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 completion of the sale, the director now directly owns 120,756 shares in the company, valued at $8,416,693.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Mark L. Jacobson sold 24,662 shares of Axsome Therapeutics stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Roger Jeffs sold 29,976 shares of Axsome Therapeutics stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the transaction, the director now owns 120,756 shares of the company's stock, valued at $8,416,693.20. The disclosure for this sale can be found here. Corporate insiders own 24.50% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Washington Trust Advisors Inc. acquired a new position in shares of Axsome Therapeutics during the fourth quarter valued at about $26,000. Harbour Investments Inc. boosted its holdings in Axsome Therapeutics by 461.5% during the second quarter. Harbour Investments Inc. now owns 365 shares of the company's stock worth $26,000 after purchasing an additional 300 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Axsome Therapeutics by 100.0% during the third quarter. Fifth Third Bancorp now owns 400 shares of the company's stock worth $28,000 after purchasing an additional 200 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Axsome Therapeutics by 582.0% during the first quarter. Captrust Financial Advisors now owns 757 shares of the company's stock worth $31,000 after purchasing an additional 646 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Axsome Therapeutics by 141.1% during the first quarter. Tower Research Capital LLC TRC now owns 815 shares of the company's stock worth $50,000 after purchasing an additional 477 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.