Q3 EPS Forecast for Axsome Therapeutics Lowered by Analyst

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Research analysts at William Blair lowered their Q3 2024 earnings estimates for Axsome Therapeutics in a research report issued to clients and investors on Tuesday, November 12th. William Blair analyst M. Minter now anticipates that the company will post earnings per share of ($1.41) for the quarter, down from their prior forecast of ($1.30). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($5.12) per share. William Blair also issued estimates for Axsome Therapeutics’ Q4 2024 earnings at ($1.15) EPS, FY2024 earnings at ($4.80) EPS, Q1 2025 earnings at ($1.10) EPS, Q2 2025 earnings at ($0.66) EPS, Q3 2025 earnings at ($0.31) EPS, Q4 2025 earnings at $0.18 EPS and FY2025 earnings at ($1.88) EPS.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. The business had revenue of $104.76 million during the quarter, compared to the consensus estimate 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 prior year, the firm posted ($1.32) EPS.

Other analysts have also recently issued research reports about the stock. StockNews.com cut shares of Axsome Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday. UBS Group decreased their target price on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $107.00 target price on shares of Axsome Therapeutics in a report on Monday, September 16th. Robert W. Baird increased their price target on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Wells Fargo & Company started coverage on shares of Axsome Therapeutics in a research note on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price objective for the company. One analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $124.93.

Axsome Therapeutics Trading Down 0.5 %

AXSM opened at $97.37 on Thursday. Axsome Therapeutics has a twelve month low of $56.66 and a twelve month high of $105.00. The company has a fifty day moving average of $90.59 and a 200-day moving average of $84.05. The stock has a market cap of $4.62 billion, a PE ratio of -14.96 and a beta of 1.26. The company has a quick ratio of 2.40, a current ratio of 2.44 and a debt-to-equity ratio of 1.97.

Insider Buying and Selling at Axsome Therapeutics

In other news, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction on 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 in the company, valued at $913,282.62. This represents a 52.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Axsome Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock valued at $298,474,000 after buying an additional 43,512 shares during the period. Bellevue Group AG lifted its position in 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. XTX Topco Ltd grew its stake in Axsome Therapeutics by 177.9% in the 2nd quarter. XTX Topco Ltd now owns 11,205 shares of the company’s stock worth $902,000 after buying an additional 7,173 shares in the last quarter. Tri Locum Partners LP increased its holdings in shares of Axsome Therapeutics by 198.4% in the 2nd quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock worth $24,674,000 after buying an additional 203,802 shares during the last quarter. Finally, Blair William & Co. IL raised its position in shares of Axsome Therapeutics by 645.9% during the 1st quarter. Blair William & Co. IL now owns 63,547 shares of the company’s stock valued at $5,071,000 after buying an additional 55,027 shares in the last quarter. Hedge funds and other institutional investors own 81.49% 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.