Zacks: Brokerages Expect Axsome Therapeutics, Inc. (NASDAQ:AXSM) Will Post Quarterly Sales of $10.50 Million

Brokerages expect Axsome Therapeutics, Inc. (NASDAQ:AXSM – Get Rating) to post $10.50 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Axsome Therapeutics’ earnings, with the lowest sales estimate coming in at $6.00 million and the highest estimate coming in at $15.00 million. The business is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Axsome Therapeutics will report full year sales of $45.90 million for the current year, with estimates ranging from $5.19 million to $80.30 million. For the next year, analysts anticipate that the business will post sales of $194.79 million, with estimates ranging from $132.80 million to $271.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Axsome Therapeutics.

Axsome Therapeutics (NASDAQ:AXSM – Get Rating) last issued its quarterly earnings data on Monday, May 2nd. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($0.03). During the same quarter in the previous year, the company earned ($0.78) EPS.

A number of equities analysts have recently commented on AXSM shares. StockNews.com started 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 lowered shares of Axsome Therapeutics from a “buy” rating to a “hold” rating and set a $32.00 price target on the stock. in a research report on Friday, March 4th. Jefferies Financial Group lifted their price target on shares of Axsome Therapeutics from $71.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, March 29th. Mizuho lowered their price objective on shares of Axsome Therapeutics from $51.00 to $49.00 in a research note on Tuesday, May 3rd. Finally, 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 note on Wednesday, March 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $80.58.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Axsome Therapeutics by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 2,699,490 shares of the company’s stock valued at $111,730,000 after purchasing an additional 13,868 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Axsome Therapeutics by 2.0% in the fourth quarter. BlackRock Inc. now owns 2,109,622 shares of the company’s stock valued at $79,700,000 after buying an additional 41,559 shares during the last quarter. Fairmount Funds Management LLC raised its holdings in shares of Axsome Therapeutics by 402.4% in the first quarter. Fairmount Funds Management LLC now owns 942,571 shares of the company’s stock valued at $39,013,000 after buying an additional 754,973 shares during the last quarter. Bellevue Group AG raised its holdings in shares of Axsome Therapeutics by 113.9% in the third quarter. Bellevue Group AG now owns 752,945 shares of the company’s stock valued at $24,817,000 after buying an additional 400,924 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Axsome Therapeutics by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 507,485 shares of the company’s stock valued at $19,172,000 after buying an additional 16,055 shares during the last quarter. Institutional investors own 48.46% of the company’s stock.

NASDAQ:AXSM opened at $31.13 on Thursday. Axsome Therapeutics has a 12 month low of $19.38 and a 12 month high of $74.10. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -8.37 and a beta of 2.47. The company has a quick ratio of 3.54, a current ratio of 3.54 and a debt-to-equity ratio of 3.36. The company’s 50 day moving average is $35.36 and its 200-day moving average is $33.84.

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.

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