Leerink Partnrs Has Bullish Outlook for AXSM FY2024 Earnings

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Leerink Partnrs lifted their FY2024 earnings per share estimates for Axsome Therapeutics in a note issued to investors on Tuesday, November 12th. Leerink Partnrs analyst M. Goodman now anticipates that the company will post earnings per share of ($4.77) for the year, up from their prior estimate of ($4.97). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($5.04) per share. Leerink Partnrs also issued estimates for Axsome Therapeutics’ Q4 2024 earnings at ($1.10) EPS, FY2025 earnings at ($3.10) EPS and FY2026 earnings at $0.35 EPS.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. The firm had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same quarter in the previous year, the company earned ($1.32) earnings per share.

AXSM has been the topic of several other research reports. Wells Fargo & Company assumed coverage on Axsome Therapeutics in a report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price objective on the stock. Bank of America raised shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $95.00 to $106.00 in a research report on Tuesday, August 6th. StockNews.com lowered shares of Axsome Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $107.00 price objective on shares of Axsome Therapeutics in a research report on Monday, September 16th. Finally, Robert W. Baird lifted their target price on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.93.

Axsome Therapeutics Price Performance

Shares of AXSM stock opened at $93.17 on Friday. The company has a quick ratio of 2.40, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. Axsome Therapeutics has a 12-month low of $56.66 and a 12-month high of $105.00. The firm has a fifty day moving average of $90.66 and a 200-day moving average of $84.27. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of -14.27 and a beta of 1.26.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. bought a new position in Axsome Therapeutics in the 2nd quarter valued at approximately $27,000. EntryPoint Capital LLC bought a new position in shares of Axsome Therapeutics in the 1st quarter valued at $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Axsome Therapeutics during the 2nd quarter valued at $47,000. Russell Investments Group Ltd. grew its position in Axsome Therapeutics by 5,550.0% during the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after acquiring an additional 777 shares during the last quarter. Finally, Covestor Ltd increased its holdings in Axsome Therapeutics by 54,750.0% in the 1st quarter. Covestor Ltd now owns 1,097 shares of the company’s stock worth $88,000 after purchasing an additional 1,095 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.

Insider Activity

In related news, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the completion of the sale, the director now directly owns 10,002 shares in the company, valued at $913,282.62. This represents a 52.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 22.40% of the company’s stock.

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.