Zacks Research Analysts Boost Earnings Estimates for Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Research analysts at Zacks Research increased their Q2 2024 EPS estimates for Axsome Therapeutics in a note issued to investors on Wednesday, July 24th. Zacks Research analyst R. Department now anticipates that the company will earn ($1.41) per share for the quarter, up from their prior forecast of ($1.43). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($4.65) per share. Zacks Research also issued estimates for Axsome Therapeutics’ Q3 2024 earnings at ($1.21) EPS, Q4 2024 earnings at ($1.12) EPS, FY2024 earnings at ($4.82) EPS, Q1 2025 earnings at ($1.05) EPS, Q2 2025 earnings at ($1.17) EPS, Q3 2025 earnings at ($0.55) EPS, Q4 2025 earnings at ($0.08) EPS, FY2025 earnings at ($2.85) EPS, Q2 2026 earnings at $0.23 EPS and FY2026 earnings at $2.73 EPS.

Several other research firms have also commented on AXSM. Cantor Fitzgerald reissued an “overweight” rating and set a $107.00 price objective on shares of Axsome Therapeutics in a research note on Friday. Morgan Stanley upgraded Axsome Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $90.00 to $115.00 in a report on Monday, April 29th. Robert W. Baird upped their price target on shares of Axsome Therapeutics from $108.00 to $112.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Royal Bank of Canada restated an “outperform” rating and set a $131.00 price objective on shares of Axsome Therapeutics in a research note on Monday, July 22nd. Finally, Mizuho reiterated a “buy” rating and issued a $106.00 target price on shares of Axsome Therapeutics in a research note on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.85.

Axsome Therapeutics Price Performance

AXSM opened at $86.53 on Friday. The company has a current ratio of 3.20, a quick ratio of 3.09 and a debt-to-equity ratio of 1.25. The company has a market cap of $4.11 billion, a price-to-earnings ratio of -13.56 and a beta of 1.26. The stock has a fifty day simple moving average of $78.54 and a two-hundred day simple moving average of $79.45. Axsome Therapeutics has a 12-month low of $55.02 and a 12-month high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, May 6th. The company reported ($1.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.20) by $0.11. Axsome Therapeutics had a negative return on equity of 87.17% and a negative net margin of 118.07%. The firm had revenue of $75.00 million during the quarter, compared to analyst estimates of $69.91 million.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 7,910 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $74.31, for a total value of $587,792.10. Following the transaction, the chief operating officer now owns 5,783 shares of the company’s stock, valued at $429,734.73. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, COO Mark L. Jacobson sold 7,910 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $74.31, for a total value of $587,792.10. Following the transaction, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at approximately $429,734.73. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mark Coleman sold 5,249 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $75.21, for a total value of $394,777.29. Following the transaction, the director now owns 19,848 shares of the company’s stock, valued at $1,492,768.08. The disclosure for this sale can be found here. Company insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors have recently bought and sold shares of AXSM. Vanguard Group Inc. boosted its stake in shares of Axsome Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock worth $298,474,000 after acquiring an additional 43,512 shares during the period. Perceptive Advisors LLC lifted its holdings in Axsome Therapeutics by 115.5% in the 4th quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock worth $82,616,000 after purchasing an additional 556,370 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Axsome Therapeutics by 57.4% in the 4th quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock worth $66,633,000 after purchasing an additional 305,264 shares during the period. Bellevue Group AG grew its holdings in Axsome Therapeutics by 7.9% during the 1st quarter. Bellevue Group AG now owns 685,476 shares of the company’s stock valued at $54,701,000 after buying an additional 50,104 shares in the last quarter. Finally, Hood River Capital Management LLC raised its position in shares of Axsome Therapeutics by 32.6% during the first quarter. Hood River Capital Management LLC now owns 520,750 shares of the company’s stock valued at $41,556,000 after buying an additional 127,997 shares during the last quarter. 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.