HC Wainwright Analysts Cut Earnings Estimates for Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) - Equities researchers at HC Wainwright dropped their Q2 2024 earnings per share (EPS) estimates for shares of Axsome Therapeutics in a research report issued to clients and investors on Tuesday, May 7th. HC Wainwright analyst R. Selvaraju now expects that the company will earn ($1.31) per share for the quarter, down from their prior forecast of ($1.08). HC Wainwright has a "Buy" rating and a $190.00 price objective on the stock. The consensus estimate for Axsome Therapeutics' current full-year earnings is ($3.75) per share. HC Wainwright also issued estimates for Axsome Therapeutics' Q3 2024 earnings at ($1.22) EPS, Q4 2024 earnings at ($1.05) EPS, FY2024 earnings at ($4.67) EPS, Q1 2025 earnings at ($0.88) EPS, Q2 2025 earnings at ($0.39) EPS and FY2025 earnings at $0.54 EPS.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.73) earnings per share 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 return on equity of 70.67% and a negative net margin of 88.41%.

A number of other research analysts have also recently issued reports on AXSM. Morgan Stanley raised shares of Axsome Therapeutics from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $90.00 to $115.00 in a research report on Monday, April 29th. Piper Sandler lifted their price objective on Axsome Therapeutics from $90.00 to $113.00 and gave the company an "overweight" rating in a research note on Tuesday, January 16th. Truist Financial reissued a "buy" rating and issued a $150.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, March 26th. Royal Bank of Canada upped their price target on shares of Axsome Therapeutics from $123.00 to $128.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 26th. Finally, Mizuho decreased their target price on shares of Axsome Therapeutics from $109.00 to $106.00 and set a "buy" rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Axsome Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.92.

Axsome Therapeutics Stock Down 1.6 %

Axsome Therapeutics stock traded down $1.18 on Friday, hitting $72.50. 510,059 shares of the stock traded hands, compared to its average volume of 713,205. The business's fifty day simple moving average is $73.64 and its 200 day simple moving average is $75.79. The firm has a market cap of $3.44 billion, a P/E ratio of -11.36 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. Axsome Therapeutics has a 1 year low of $55.02 and a 1 year high of $98.40.

Insider Buying and Selling at Axsome Therapeutics

In related news, COO Mark L. Jacobson sold 24,662 shares of the business's stock in a transaction that occurred 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 can be accessed through the SEC website. In other Axsome Therapeutics news, Director Roger Jeffs sold 29,976 shares of the company's 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 completion of the transaction, the director now directly owns 120,756 shares in the company, valued at $8,416,693.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Mark L. Jacobson sold 24,662 shares of the company's stock in a transaction on Monday, April 1st. The stock was sold at an average price of $77.24, for a total transaction of $1,904,892.88. The disclosure for this sale can be found here. 24.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Several large investors have recently made changes to their positions in AXSM. Perceptive Advisors LLC raised its stake 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 period. Eventide Asset Management LLC bought a new stake in shares of Axsome Therapeutics during the third quarter valued at approximately $24,232,000. Point72 Asset Management L.P. raised 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 valued at $66,633,000 after buying an additional 305,264 shares during the last quarter. First Turn Management LLC purchased a new position in shares of Axsome Therapeutics in the fourth quarter worth $23,513,000. Finally, RTW Investments LP boosted its position in shares of Axsome Therapeutics by 4.8% during the third quarter. RTW Investments LP now owns 4,489,596 shares of the company's stock worth $313,778,000 after acquiring an additional 205,319 shares during the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

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.