Analysts Set Expectations for Axsome Therapeutics, Inc.’s FY2023 Earnings (NASDAQ:AXSM)

Axsome Therapeutics, Inc. (NASDAQ:AXSMGet Rating) – Research analysts at Jefferies Financial Group cut their FY2023 earnings estimates for Axsome Therapeutics in a note issued to investors on Monday, February 27th. Jefferies Financial Group analyst C. Howerton now expects that the company will post earnings per share of ($5.75) for the year, down from their previous estimate of ($3.78). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($3.68) per share. Jefferies Financial Group also issued estimates for Axsome Therapeutics’ FY2024 earnings at ($0.54) EPS, FY2025 earnings at $7.30 EPS, FY2026 earnings at $11.01 EPS and FY2027 earnings at $17.49 EPS.

Several other equities analysts have also commented on the stock. Guggenheim lowered their price objective on shares of Axsome Therapeutics from $105.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday. HC Wainwright reiterated a “buy” rating and set a $210.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, February 14th. Mizuho lowered their price objective on shares of Axsome Therapeutics from $86.00 to $84.00 and set a “buy” rating for the company in a research report on Wednesday. SVB Leerink increased their price objective on shares of Axsome Therapeutics from $65.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, November 29th. Finally, Cantor Fitzgerald increased their price objective on shares of Axsome Therapeutics from $88.00 to $96.00 in a research report on Tuesday, November 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $104.64.

Axsome Therapeutics Stock Performance

AXSM opened at $65.32 on Thursday. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of -14.29 and a beta of 1.95. The company has a fifty day moving average of $68.63 and a 200 day moving average of $61.55. Axsome Therapeutics has a fifty-two week low of $20.63 and a fifty-two week high of $82.00. The company has a debt-to-equity ratio of 0.86, a quick ratio of 4.15 and a current ratio of 2.54.

Institutional Investors Weigh In On Axsome Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors lifted its holdings in Axsome Therapeutics by 582.0% during the 1st quarter. Captrust Financial Advisors now owns 757 shares of the company’s stock valued at $31,000 after buying an additional 646 shares in the last quarter. Armstrong Advisory Group Inc. purchased a new position in Axsome Therapeutics during the 4th quarter valued at about $33,000. Nisa Investment Advisors LLC increased its position in Axsome Therapeutics by 208.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 888 shares of the company’s stock valued at $34,000 after purchasing an additional 600 shares during the period. Quent Capital LLC purchased a new position in Axsome Therapeutics during the 3rd quarter valued at about $54,000. Finally, Signaturefd LLC increased its position in Axsome Therapeutics by 627.0% during the 4th quarter. Signaturefd LLC now owns 727 shares of the company’s stock valued at $56,000 after purchasing an additional 627 shares during the period. Institutional investors own 59.71% of the company’s stock.

About Axsome Therapeutics

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Axsome Therapeutics, Inc engages in the development of novel therapies for the management of central nervous system disorders. Its product candidates include AXS-05, AXS-07, AXS-12, and AXS-14 which are being developed for multiple pain and primary care indications. The company was founded by Herriot Tabuteau on January 12, 2012 and is headquartered in New York, NY.

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

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