HC Wainwright Has Bullish Forecast for AXSM FY2024 Earnings

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Research analysts at HC Wainwright boosted their FY2024 earnings per share estimates for shares of Axsome Therapeutics in a research note issued on Tuesday, January 21st. HC Wainwright analyst R. Selvaraju now forecasts that the company will post earnings of ($4.58) per share for the year, up from their previous estimate of ($4.60). HC Wainwright has a “Buy” rating and a $180.00 price target on the stock. The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($4.73) per share. HC Wainwright also issued estimates for Axsome Therapeutics’ Q4 2024 earnings at ($0.92) EPS, Q1 2025 earnings at ($0.85) EPS, Q2 2025 earnings at ($0.59) EPS, Q3 2025 earnings at ($0.31) EPS, Q4 2025 earnings at $0.38 EPS and FY2025 earnings at ($1.37) EPS.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping the consensus estimate of ($1.38) by $0.04. The firm had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. During the same period in the previous year, the company posted ($1.32) EPS.

AXSM has been the topic of a number of other reports. Royal Bank of Canada upped their target price on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Mizuho cut their target price on Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $121.00 target price on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Finally, Robert W. Baird upped their target price on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Axsome Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $130.69.

Axsome Therapeutics Stock Performance

Axsome Therapeutics stock opened at $103.89 on Thursday. The stock’s 50 day moving average price is $92.32 and its 200 day moving average price is $89.80. The firm has a market capitalization of $5.03 billion, a PE ratio of -15.91 and a beta of 1.04. 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 one year low of $64.11 and a one year high of $105.00.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. bought a new position in Axsome Therapeutics during the 2nd quarter worth $27,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Axsome Therapeutics during the 2nd quarter worth $47,000. R Squared Ltd bought a new position in Axsome Therapeutics during the 4th quarter worth $64,000. KBC Group NV grew its stake in Axsome Therapeutics by 40.5% during 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 during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Axsome Therapeutics by 22.4% during the 3rd 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 during the last quarter. 81.49% of the stock is currently 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.