Axsome Therapeutics, Inc. to Post Q1 2024 Earnings of ($1.26) Per Share, William Blair Forecasts (NASDAQ:AXSM)

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Research analysts at William Blair lifted their Q1 2024 EPS estimates for shares of Axsome Therapeutics in a note issued to investors on Wednesday, April 17th. William Blair analyst M. Minter now anticipates that the company will earn ($1.26) per share for the quarter, up from their previous forecast of ($1.35). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($3.85) per share. William Blair also issued estimates for Axsome Therapeutics’ FY2024 earnings at ($4.03) EPS.

Several other equities analysts have also recently issued reports on AXSM. Royal Bank of Canada boosted their target price on Axsome Therapeutics from $123.00 to $128.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. UBS Group initiated coverage on shares of Axsome Therapeutics in a report on Tuesday, February 6th. They issued a “buy” rating and a $111.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $190.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, April 2nd. Piper Sandler increased their price target on shares of Axsome Therapeutics from $90.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Finally, Mizuho lifted their price objective on Axsome Therapeutics from $108.00 to $109.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $119.67.

Axsome Therapeutics Trading Up 3.3 %

NASDAQ AXSM opened at $67.90 on Friday. The stock has a market cap of $3.22 billion, a P/E ratio of -12.91 and a beta of 1.13. Axsome Therapeutics has a fifty-two week low of $55.02 and a fifty-two week high of $98.40. The stock has a 50 day simple moving average of $78.09 and a two-hundred day simple moving average of $75.03. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.52 and a current ratio of 3.63.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Tuesday, February 20th. The company reported ($0.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.48. Axsome Therapeutics had a negative net margin of 88.41% and a negative return on equity of 70.67%. The company had revenue of $71.53 million during the quarter, compared to analyst estimates of $70.38 million.

Institutional Investors Weigh In On Axsome Therapeutics

A number of large investors have recently made changes to their positions in the company. RTW Investments LP boosted its holdings in shares of Axsome Therapeutics by 4.8% in the third quarter. RTW Investments LP now owns 4,489,596 shares of the company’s stock worth $313,778,000 after buying an additional 205,319 shares during the last quarter. Vanguard Group Inc. raised its position in Axsome Therapeutics by 11.0% in the third quarter. Vanguard Group Inc. now owns 3,111,500 shares of the company’s stock worth $138,835,000 after acquiring an additional 309,362 shares during the period. BlackRock Inc. boosted its stake in shares of Axsome Therapeutics by 10.3% during the 2nd quarter. BlackRock Inc. now owns 2,723,543 shares of the company’s stock worth $195,714,000 after acquiring an additional 255,319 shares during the last quarter. Perceptive Advisors LLC grew its position in shares of Axsome Therapeutics by 115.5% during the 4th quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock valued at $82,616,000 after acquiring an additional 556,370 shares during the period. Finally, State Street Corp increased its stake in shares of Axsome Therapeutics by 22.0% in the 2nd quarter. State Street Corp now owns 852,983 shares of the company’s stock worth $32,669,000 after purchasing an additional 153,977 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors.

Insider Activity at Axsome Therapeutics

In other news, Director Roger Jeffs sold 29,976 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the sale, the director now owns 120,756 shares of the company’s stock, valued at approximately $8,416,693.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, COO Mark L. Jacobson sold 24,662 shares of Axsome Therapeutics stock in a transaction on Monday, April 1st. The stock was sold at an average price of $77.24, for a total value of $1,904,892.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roger Jeffs sold 29,976 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $69.70, for a total value of $2,089,327.20. Following the completion of the transaction, the director now directly owns 120,756 shares in the company, valued at approximately $8,416,693.20. The disclosure for this sale can be found here. 24.50% of the stock is currently owned by insiders.

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.