Zacks Research Issues Negative Outlook for AXSM Earnings

Axsome Therapeutics, Inc. (NASDAQ:AXSMFree Report) – Stock analysts at Zacks Research reduced their Q3 2024 earnings per share (EPS) estimates for shares of Axsome Therapeutics in a report issued on Monday, October 21st. Zacks Research analyst R. Department now forecasts that the company will post earnings per share of ($1.52) for the quarter, down from their prior forecast of ($1.42). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($4.73) per share. Zacks Research also issued estimates for Axsome Therapeutics’ Q4 2024 earnings at ($1.31) EPS, FY2024 earnings at ($5.16) EPS, Q1 2025 earnings at ($1.52) EPS, Q2 2025 earnings at ($1.33) EPS, Q3 2025 earnings at ($0.83) EPS, Q4 2025 earnings at ($0.47) EPS, FY2025 earnings at ($4.15) EPS, Q1 2026 earnings at ($0.59) EPS, Q2 2026 earnings at ($0.02) EPS and Q3 2026 earnings at $0.83 EPS.

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

Several other analysts have also commented on the company. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, October 1st. UBS Group dropped their price target on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 price target on shares of Axsome Therapeutics in a research report on Monday, September 16th. HC Wainwright reiterated a “buy” rating and issued a $180.00 price target on shares of Axsome Therapeutics in a research report on Thursday, September 5th. Finally, Bank of America raised shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and upped their target price for the stock from $95.00 to $106.00 in a report on Tuesday, August 6th. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.64.

Get Our Latest Report on AXSM

Axsome Therapeutics Stock Performance

Shares of NASDAQ AXSM opened at $92.32 on Wednesday. The company has a market cap of $4.38 billion, a PE ratio of -14.47 and a beta of 1.26. The firm’s 50-day moving average price is $89.95 and its 200-day moving average price is $81.90. Axsome Therapeutics has a 52-week low of $55.02 and a 52-week high of $98.40. The company has a quick ratio of 2.40, a current ratio of 2.48 and a debt-to-equity ratio of 1.77.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Axsome Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock worth $298,474,000 after acquiring an additional 43,512 shares in the last quarter. Millennium Management LLC raised its position in shares of Axsome Therapeutics by 1.4% in the 2nd quarter. Millennium Management LLC now owns 739,819 shares of the company’s stock worth $59,555,000 after acquiring an additional 10,401 shares in the last quarter. Bellevue Group AG lifted its stake in shares of Axsome Therapeutics by 7.9% during the 1st quarter. Bellevue Group AG now owns 685,476 shares of the company’s stock worth $54,701,000 after purchasing an additional 50,104 shares during the last quarter. Hood River Capital Management LLC lifted its position 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 buying an additional 28,316 shares during the last quarter. Finally, Sofinnova Investments Inc. acquired a new stake in Axsome Therapeutics in the second quarter valued at approximately $24,971,000. Institutional investors own 81.49% of the company’s stock.

Insider Buying and Selling

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the SEC, which is available at this link. In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total value of $1,005,870.96. Following the completion of the sale, the director now owns 10,002 shares of the company’s stock, valued at $913,282.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Mark L. Jacobson sold 47,739 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $84.26, for a total value 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 $487,275.58. 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 currently owned by company insiders.

About Axsome Therapeutics

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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.

See Also

Earnings History and Estimates for Axsome Therapeutics (NASDAQ:AXSM)

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