Equities Analysts Issue Forecasts for AXSM FY2024 Earnings

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Leerink Partnrs increased their FY2024 EPS estimates for shares of Axsome Therapeutics in a report released on Wednesday, January 29th. Leerink Partnrs analyst M. Goodman now forecasts that the company will post earnings per share of ($4.72) for the year, up from their previous forecast of ($4.77). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($4.72) per share. Leerink Partnrs also issued estimates for Axsome Therapeutics’ Q4 2024 earnings at ($1.05) EPS, FY2025 earnings at ($4.30) EPS, FY2026 earnings at $0.00 EPS, FY2027 earnings at $4.15 EPS and FY2028 earnings at $10.10 EPS.

A number of other research analysts also recently issued reports on the stock. William Blair reiterated an “outperform” rating on shares of Axsome Therapeutics in a research note on Friday, January 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $133.00 price objective on shares of Axsome Therapeutics in a research report on Monday, January 13th. Robert W. Baird boosted their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Mizuho cut their price target on Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 31st. Finally, StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Axsome Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $132.08.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $106.46 on Friday. The stock has a 50-day simple moving average of $93.57 and a 200-day simple moving average of $90.81. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. Axsome Therapeutics has a 1 year low of $64.11 and a 1 year high of $111.51. The stock has a market capitalization of $5.16 billion, a PE ratio of -16.30 and a beta of 1.04.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results 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. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The firm had revenue of $104.76 million during the quarter, compared to analyst estimates of $98.71 million. During the same period last year, the business posted ($1.32) earnings per share.

Institutional Investors Weigh In On Axsome Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of AXSM. Mirae Asset Global Investments Co. Ltd. raised its holdings in Axsome Therapeutics by 22.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock worth $156,000 after purchasing an additional 318 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Axsome Therapeutics in the second quarter valued at $27,000. WCM Investment Management LLC raised its stake in shares of Axsome Therapeutics by 0.3% during the 3rd quarter. WCM Investment Management LLC now owns 113,692 shares of the company’s stock worth $10,191,000 after buying an additional 347 shares during the last quarter. KBC Group NV boosted its position in shares of Axsome Therapeutics by 40.5% in the 4th quarter. KBC Group NV now owns 1,336 shares of the company’s stock worth $113,000 after buying an additional 385 shares in the last quarter. Finally, US Bancorp DE grew its stake in Axsome Therapeutics by 0.3% in the 3rd quarter. US Bancorp DE now owns 133,126 shares of the company’s stock valued at $11,964,000 after acquiring an additional 421 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

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.