Zacks Research Issues Negative Forecast for AXSM Earnings

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) - Zacks Research reduced their Q1 2027 earnings per share (EPS) estimates for Axsome Therapeutics in a research note issued on Tuesday, July 1st. Zacks Research analyst R. Department now expects that the company will earn $0.42 per share for the quarter, down from their previous estimate of $0.43. The consensus estimate for Axsome Therapeutics' current full-year earnings is ($2.79) per share.

A number of other research firms also recently weighed in on AXSM. Mizuho upped their target price on Axsome Therapeutics from $212.00 to $216.00 and gave the stock an "outperform" rating in a research report on Thursday, March 27th. Jefferies Financial Group started coverage on Axsome Therapeutics in a report on Monday, April 7th. They issued a "buy" rating and a $200.00 price objective for the company. HC Wainwright reaffirmed a "buy" rating and set a $180.00 target price on shares of Axsome Therapeutics in a report on Tuesday, June 10th. Robert W. Baird boosted their price target on shares of Axsome Therapeutics from $160.00 to $162.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Finally, Needham & Company LLC reduced their price objective on shares of Axsome Therapeutics from $153.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, June 9th. One investment 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 company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $172.33.

Axsome Therapeutics Price Performance

Shares of Axsome Therapeutics stock traded up $1.45 on Wednesday, hitting $105.36. The company had a trading volume of 245,787 shares, compared to its average volume of 669,187. Axsome Therapeutics has a 52 week low of $72.21 and a 52 week 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 company has a market cap of $5.19 billion, a PE ratio of -18.26 and a beta of 0.46. The business has a 50-day simple moving average of $106.63 and a 200-day simple moving average of $107.68.

Insider Buying and Selling

In other news, Director Mark Coleman sold 3,750 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $105.47, for a total value of $395,512.50. Following the transaction, the director directly owned 50,387 shares of the company's stock, valued at approximately $5,314,316.89. This represents a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Mark L. Jacobson sold 25,000 shares of the firm's stock in a transaction dated 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 sale, the chief operating officer directly owned 5,783 shares of the company's stock, valued at $638,674.52. This trade represents a 81.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,437 shares of company stock worth $9,834,215. 22.30% of the stock is owned by company insiders.

Institutional Trading of Axsome Therapeutics

A number of institutional investors have recently added to or reduced their stakes in AXSM. Assenagon Asset Management S.A. raised its holdings in shares of Axsome Therapeutics by 16,852.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 627,418 shares of the company's stock valued at $73,176,000 after purchasing an additional 623,717 shares in the last quarter. Boxer Capital Management LLC bought a new position in Axsome Therapeutics during the fourth quarter valued at about $39,767,000. Lazard Asset Management LLC lifted its position in shares of Axsome Therapeutics by 525.7% in 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 during the last quarter. Nuveen LLC acquired a new stake in shares of Axsome Therapeutics in the first quarter worth about $48,185,000. Finally, Norges Bank bought a new stake in shares of Axsome Therapeutics during the 4th quarter worth about $34,100,000. 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.