Leerink Partnrs Has Positive Outlook for AXSM Q3 Earnings

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Equities research analysts at Leerink Partnrs boosted their Q3 2024 earnings estimates for shares of Axsome Therapeutics in a research report issued on Tuesday, October 15th. Leerink Partnrs analyst M. Goodman now anticipates that the company will post earnings of ($1.39) per share for the quarter, up from their previous forecast of ($1.42). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($4.73) per share. Leerink Partnrs also issued estimates for Axsome Therapeutics’ Q4 2024 earnings at ($1.25) EPS and FY2024 earnings at ($4.97) EPS.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Monday, August 5th. The company reported ($1.24) EPS for the quarter, beating the consensus estimate of ($1.30) by $0.06. Axsome Therapeutics had a negative net margin of 105.85% and a negative return on equity of 117.46%. The business had revenue of $87.17 million for the quarter, compared to analysts’ expectations of $84.53 million.

A number of other brokerages have also recently issued reports on AXSM. UBS Group decreased their price objective on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, October 1st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a report on Monday, September 16th. Wells Fargo & Company assumed coverage on shares of Axsome Therapeutics in a report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and set a $180.00 target price on shares of Axsome Therapeutics in a research report on Thursday, September 5th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.64.

Axsome Therapeutics Stock Performance

Shares of NASDAQ:AXSM opened at $93.35 on Friday. The stock has a market capitalization of $4.43 billion, a PE ratio of -14.63 and a beta of 1.26. Axsome Therapeutics has a 1 year low of $55.02 and a 1 year high of $98.40. The firm has a fifty day moving average price of $89.52 and a 200 day moving average price of $81.44. The company has a current ratio of 2.48, a quick ratio of 2.40 and a debt-to-equity ratio of 1.77.

Institutional Trading of Axsome Therapeutics

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Axsome Therapeutics by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock valued at $298,474,000 after purchasing an additional 43,512 shares during the last quarter. Millennium Management LLC grew its stake in shares of Axsome Therapeutics by 1.4% during the second quarter. Millennium Management LLC now owns 739,819 shares of the company’s stock valued at $59,555,000 after purchasing an additional 10,401 shares during the last quarter. Bellevue Group AG grew its stake in shares of Axsome Therapeutics by 7.9% during the first quarter. Bellevue Group AG now owns 685,476 shares of the company’s stock valued at $54,701,000 after purchasing an additional 50,104 shares during the last quarter. Hood River Capital Management LLC grew its stake in shares of Axsome Therapeutics by 5.4% during the second quarter. Hood River Capital Management LLC now owns 549,066 shares of the company’s stock valued at $44,200,000 after purchasing an additional 28,316 shares during the last quarter. Finally, Sofinnova Investments Inc. bought a new stake in shares of Axsome Therapeutics during the second quarter valued at approximately $24,971,000. 81.49% of the stock is owned by institutional investors.

Insider Activity

In related news, COO Mark L. Jacobson sold 47,739 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.26, for a total value of $4,022,488.14. Following the completion of the transaction, the chief operating officer now owns 5,783 shares of the company’s stock, valued at $487,275.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Axsome Therapeutics news, COO Mark L. Jacobson sold 47,739 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the sale, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at approximately $487,275.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 10,002 shares in the company, valued at $913,282.62. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.40% of the stock is owned by company 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.