William Blair Weighs in on Axsome Therapeutics, Inc.’s Q3 2022 Earnings (NASDAQ:AXSM)

Axsome Therapeutics, Inc. (NASDAQ:AXSMGet Rating) – Stock analysts at William Blair lifted their Q3 2022 earnings per share estimates for Axsome Therapeutics in a research note issued to investors on Tuesday, April 19th. William Blair analyst M. Minter now expects that the company will earn ($1.01) per share for the quarter, up from their prior forecast of ($1.04). William Blair also issued estimates for Axsome Therapeutics’ Q4 2022 earnings at ($0.87) EPS and FY2022 earnings at ($3.73) EPS.

Axsome Therapeutics (NASDAQ:AXSMGet Rating) last issued its earnings results on Tuesday, March 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.99) by $0.09. During the same quarter in the prior year, the firm posted ($0.78) earnings per share.

Several other research firms have also issued reports on AXSM. StockNews.com assumed coverage on shares of Axsome Therapeutics in a research report on Thursday, March 31st. They issued a “sell” rating on the stock. Zacks Investment Research cut shares of Axsome Therapeutics from a “buy” rating to a “hold” rating and set a $32.00 price objective on the stock. in a research report on Friday, March 4th. SVB Leerink lowered their price objective on shares of Axsome Therapeutics from $65.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 2nd. Finally, Jefferies Financial Group lifted their price objective on shares of Axsome Therapeutics from $71.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, March 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $80.78.

Shares of NASDAQ:AXSM opened at $39.60 on Friday. Axsome Therapeutics has a 12 month low of $19.38 and a 12 month high of $74.10. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of -11.41 and a beta of 2.41. The stock’s 50 day moving average price is $34.75 and its 200 day moving average price is $34.53. The company has a debt-to-equity ratio of 3.14, a current ratio of 3.75 and a quick ratio of 3.75.

Hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC acquired a new stake in shares of Axsome Therapeutics in the 3rd quarter valued at $1,558,000. Two Sigma Investments LP acquired a new position in Axsome Therapeutics during the 3rd quarter worth $699,000. Tudor Investment Corp Et Al lifted its position in Axsome Therapeutics by 238.8% during the 3rd quarter. Tudor Investment Corp Et Al now owns 90,329 shares of the company’s stock worth $2,977,000 after acquiring an additional 63,668 shares during the last quarter. Kaizen Financial Strategies acquired a new position in Axsome Therapeutics during the 3rd quarter worth $247,000. Finally, Citigroup Inc. lifted its position in Axsome Therapeutics by 518.2% during the 3rd quarter. Citigroup Inc. now owns 46,871 shares of the company’s stock worth $1,545,000 after acquiring an additional 39,289 shares during the last quarter. 48.45% of the stock is owned by institutional investors and hedge funds.

About Axsome Therapeutics (Get Rating)

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 product pipeline includes AXS-05, a therapeutic for the treatment of major depressive disorder and resistant depression disorders; and that is in the Phase III clinical trial to treat Alzheimer's disease agitation, as well as that has completed phase II clinical trial for the treatment of smoking cessation.

Further Reading

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

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