Axsome Therapeutics, Inc. (NASDAQ:AXSM) Expected to Post Q2 2024 Earnings of ($1.35) Per Share

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Research analysts at William Blair decreased their Q2 2024 earnings per share (EPS) estimates for Axsome Therapeutics in a research report issued on Monday, May 6th. William Blair analyst M. Minter now anticipates that the company will earn ($1.35) per share for the quarter, down from their prior forecast of ($1.24). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($3.75) per share. William Blair also issued estimates for Axsome Therapeutics’ Q3 2024 earnings at ($1.16) EPS, Q4 2024 earnings at ($0.88) EPS, FY2024 earnings at ($4.48) EPS, Q1 2025 earnings at ($0.94) EPS, Q2 2025 earnings at ($0.39) EPS, Q3 2025 earnings at $0.06 EPS, Q4 2025 earnings at $0.55 EPS and FY2025 earnings at ($0.72) EPS.

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

A number of other research analysts have also recently issued reports on AXSM. Mizuho decreased their target price on Axsome Therapeutics from $109.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday. Truist Financial reissued a “buy” rating and issued a $150.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, March 26th. Citigroup decreased their target price on shares of Axsome Therapeutics from $127.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $190.00 price target on shares of Axsome Therapeutics in a research note on Tuesday. Finally, Guggenheim boosted their price objective on Axsome Therapeutics from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.92.

Axsome Therapeutics Trading Down 2.6 %

Shares of AXSM stock opened at $73.68 on Thursday. Axsome Therapeutics has a fifty-two week low of $55.02 and a fifty-two week high of $98.40. The stock’s fifty day moving average price is $73.84 and its two-hundred day moving average price is $75.72. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.52 and a current ratio of 3.63. The company has a market cap of $3.50 billion, a PE ratio of -11.55 and a beta of 1.13.

Insiders Place Their Bets

In related news, Director Roger Jeffs sold 29,976 shares of the company’s stock in a transaction on 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 completion of the sale, the director now directly owns 120,756 shares in the company, valued at approximately $8,416,693.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, COO Mark L. Jacobson sold 24,662 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $77.24, for a total value of $1,904,892.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roger Jeffs sold 29,976 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was 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 of the company’s stock, valued at approximately $8,416,693.20. The disclosure for this sale can be found here. Insiders own 24.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Washington Trust Advisors Inc. bought a new stake in shares of Axsome Therapeutics during the fourth quarter valued at approximately $26,000. Fifth Third Bancorp increased its holdings in shares of Axsome Therapeutics by 100.0% in the 3rd quarter. Fifth Third Bancorp now owns 400 shares of the company’s stock worth $28,000 after purchasing an additional 200 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Axsome Therapeutics by 5,550.0% in the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after purchasing an additional 777 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Axsome Therapeutics by 110.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,204 shares of the company’s stock valued at $84,000 after purchasing an additional 633 shares in the last quarter. Finally, Janiczek Wealth Management LLC purchased a new stake in shares of Axsome Therapeutics during the first quarter valued at $97,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

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.