What is HC Wainwright’s Forecast for AXSM FY2024 Earnings?

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Equities researchers at HC Wainwright boosted their FY2024 earnings per share estimates for Axsome Therapeutics in a report released on Monday, November 25th. HC Wainwright analyst R. Selvaraju now anticipates that the company will earn ($4.60) per share for the year, up from their prior forecast of ($5.25). HC Wainwright has a “Buy” rating and a $180.00 price objective on the stock. The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($4.75) per share. HC Wainwright also issued estimates for Axsome Therapeutics’ Q4 2024 earnings at ($0.94) EPS, Q1 2025 earnings at ($0.81) EPS, Q2 2025 earnings at ($0.44) EPS, Q3 2025 earnings at $0.03 EPS, Q4 2025 earnings at $0.79 EPS and FY2025 earnings at ($0.41) EPS.

Several other equities research analysts have also recently weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a research report on Monday, September 16th. UBS Group reduced their price objective on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Wells Fargo & Company assumed coverage on Axsome Therapeutics in a research report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price objective for the company. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada increased their price objective on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $124.93.

Axsome Therapeutics Stock Up 2.7 %

Shares of Axsome Therapeutics stock opened at $99.65 on Wednesday. The stock has a market capitalization of $4.83 billion, a P/E ratio of -14.86 and a beta of 1.26. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. The stock has a 50 day moving average price of $91.21 and a two-hundred day moving average price of $85.47. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping 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 return on equity of 158.36% and a negative net margin of 91.87%. During the same quarter in the prior year, the business earned ($1.32) earnings per share.

Insiders Place Their Bets

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the 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 transaction, the director now directly owns 10,002 shares in the company, valued at $913,282.62. This represents a 52.41 % 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. Corporate insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. acquired a new position in Axsome Therapeutics during the second quarter worth $27,000. EntryPoint Capital LLC acquired a new stake in shares of Axsome Therapeutics in the first quarter valued at $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Axsome Therapeutics in the second quarter valued at $47,000. Russell Investments Group Ltd. increased its stake in shares of Axsome Therapeutics by 5,550.0% in the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock valued at $63,000 after buying an additional 777 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Axsome Therapeutics by 22.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after buying an additional 318 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.