William Blair Has Bullish Forecast for AXSM FY2028 Earnings

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) - Investment analysts at William Blair raised their FY2028 earnings per share (EPS) estimates for shares of Axsome Therapeutics in a research report issued on Monday, May 5th. William Blair analyst M. Minter now anticipates that the company will earn $25.82 per share for the year, up from their previous forecast of $25.02. William Blair has a "Outperform" rating on the stock. The consensus estimate for Axsome Therapeutics' current full-year earnings is ($2.79) per share. William Blair also issued estimates for Axsome Therapeutics' FY2029 earnings at $39.02 EPS.

A number of other analysts have also recently commented on the stock. Truist Financial lifted their target price on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Robert W. Baird lifted their price objective on shares of Axsome Therapeutics from $160.00 to $162.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Wells Fargo & Company restated an "overweight" rating and set a $165.00 price objective (up from $160.00) on shares of Axsome Therapeutics in a research note on Tuesday, May 6th. Mizuho lifted their price objective on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the company an "outperform" rating in a research note on Thursday, March 27th. Finally, Needham & Company LLC restated a "buy" rating and set a $153.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, April 1st. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Axsome Therapeutics has an average rating of "Moderate Buy" and an average price target of $172.14.

Axsome Therapeutics Stock Performance

AXSM stock traded up $2.91 during trading on Wednesday, reaching $110.67. The company had a trading volume of 265,294 shares, compared to its average volume of 681,070. The firm has a 50-day simple moving average of $112.01 and a 200-day simple moving average of $104.70. The company has a market cap of $5.45 billion, a price-to-earnings ratio of -18.48 and a beta of 0.46. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. Axsome Therapeutics has a twelve month low of $64.11 and a twelve month high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, topping analysts' consensus estimates of ($0.97) by $0.01. The company had revenue of $118.77 million during the quarter, compared to analysts' expectations of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%.

Institutional Investors Weigh In On Axsome Therapeutics

A number of large investors have recently modified their holdings of AXSM. Assenagon Asset Management S.A. grew its holdings in shares of Axsome Therapeutics by 16,852.7% during the first quarter. Assenagon Asset Management S.A. now owns 627,418 shares of the company's stock worth $73,176,000 after buying an additional 623,717 shares in the last quarter. Boxer Capital Management LLC purchased a new stake in shares of Axsome Therapeutics during the fourth quarter worth $39,767,000. Lazard Asset Management LLC grew its holdings in shares of Axsome Therapeutics by 525.7% during the fourth quarter. Lazard Asset Management LLC now owns 537,669 shares of the company's stock worth $45,492,000 after buying an additional 451,737 shares in the last quarter. Norges Bank purchased a new stake in shares of Axsome Therapeutics in the fourth quarter valued at about $34,100,000. Finally, BVF Inc. IL grew its holdings in shares of Axsome Therapeutics by 32.7% in the fourth quarter. BVF Inc. IL now owns 1,388,064 shares of the company's stock valued at $117,444,000 after purchasing an additional 342,064 shares during the period. Hedge funds and other institutional investors own 81.49% of the company's stock.

Insider Buying and Selling

In other news, CFO Nick Pizzie sold 3,000 shares of the company's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the sale, the chief financial officer now owns 42,187 shares of the company's stock, valued at $5,529,450.09. This represents a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 22.30% of the stock is owned by insiders.

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.