William Blair Has Optimistic Outlook of AXSM FY2024 Earnings

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Research analysts at William Blair raised their FY2024 EPS estimates for Axsome Therapeutics in a report issued on Monday, January 13th. William Blair analyst M. Minter now forecasts that the company will post earnings of ($4.04) per share for the year, up from their previous estimate of ($4.13). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($4.61) per share. William Blair also issued estimates for Axsome Therapeutics’ Q4 2024 earnings at ($0.84) EPS, Q1 2025 earnings at ($0.95) EPS, Q2 2025 earnings at ($0.55) EPS, Q3 2025 earnings at ($0.23) EPS, Q4 2025 earnings at $0.11 EPS, FY2025 earnings at ($1.62) EPS and FY2026 earnings at $4.74 EPS.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, topping the consensus estimate 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 period in the previous year, the firm posted ($1.32) earnings per share.

AXSM has been the subject of several other reports. Needham & Company LLC reissued a “buy” rating and issued a $133.00 price target on shares of Axsome Therapeutics in a research note on Monday. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. HC Wainwright reissued a “buy” rating on shares of Axsome Therapeutics in a research note on Tuesday, December 31st. Truist Financial upped their price objective on shares of Axsome Therapeutics from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Monday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $121.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $130.69.

Axsome Therapeutics Stock Performance

Axsome Therapeutics stock opened at $93.69 on Thursday. 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 company has a market capitalization of $4.54 billion, a PE ratio of -14.35 and a beta of 1.04. The firm has a fifty day simple moving average of $92.24 and a two-hundred day simple moving average of $89.32. Axsome Therapeutics has a twelve month low of $64.11 and a twelve month high of $105.00.

Hedge Funds Weigh In On Axsome Therapeutics

A number of institutional investors have recently bought and sold shares of AXSM. Northwestern Mutual Wealth Management Co. bought a new position in Axsome Therapeutics in the second quarter worth about $27,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Axsome Therapeutics in the second quarter worth about $47,000. Mirae Asset Global Investments Co. Ltd. raised its stake in 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 worth $156,000 after buying an additional 318 shares in the last quarter. Moors & Cabot Inc. bought a new position in Axsome Therapeutics in the third quarter worth about $200,000. Finally, Whalen Wealth Management Inc. bought a new position in Axsome Therapeutics in the third quarter worth about $236,000. 81.49% of the stock is owned by institutional investors.

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.