Q2 2024 EPS Estimates for Axsome Therapeutics, Inc. Lowered by HC Wainwright (NASDAQ:AXSM)

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Research analysts at HC Wainwright lowered their Q2 2024 EPS estimates for shares of Axsome Therapeutics in a research report issued to clients and investors on Tuesday, March 26th. HC Wainwright analyst R. Selvaraju now expects that the company will earn ($1.08) per share for the quarter, down from their previous estimate of ($1.00). HC Wainwright has a “Buy” rating and a $190.00 price target on the stock. The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($3.71) per share. HC Wainwright also issued estimates for Axsome Therapeutics’ Q3 2024 earnings at ($0.99) EPS, Q4 2024 earnings at ($0.91) EPS, FY2024 earnings at ($4.30) EPS, Q1 2025 earnings at ($0.82) EPS, Q2 2025 earnings at ($0.03) EPS, Q3 2025 earnings at $0.51 EPS, Q4 2025 earnings at $1.39 EPS and FY2025 earnings at $1.07 EPS.

Several other research firms have also commented on AXSM. Cantor Fitzgerald reiterated an “overweight” rating and set a $108.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, February 20th. UBS Group assumed coverage on shares of Axsome Therapeutics in a research note on Tuesday, February 6th. They set a “buy” rating and a $111.00 price target on the stock. Guggenheim increased their price objective on shares of Axsome Therapeutics from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Citigroup increased their price objective on shares of Axsome Therapeutics from $125.00 to $127.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Royal Bank of Canada increased their price objective on shares of Axsome Therapeutics from $123.00 to $128.00 and gave the stock an “outperform” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Axsome Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $119.67.

Axsome Therapeutics Trading Up 3.2 %

Shares of AXSM opened at $79.17 on Thursday. The company has a 50 day moving average price of $84.10 and a 200-day moving average price of $75.29. Axsome Therapeutics has a fifty-two week low of $55.02 and a fifty-two week high of $98.40. The company has a quick ratio of 3.52, a current ratio of 3.63 and a debt-to-equity ratio of 0.93.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Tuesday, February 20th. The company reported ($0.73) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $71.53 million during the quarter, compared to analysts’ expectations of $70.38 million.

Institutional Trading of Axsome Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Trexquant Investment LP purchased a new stake in Axsome Therapeutics in the 3rd quarter valued at $1,220,000. Kennedy Capital Management LLC raised its position in Axsome Therapeutics by 24.2% during the 3rd quarter. Kennedy Capital Management LLC now owns 12,092 shares of the company’s stock worth $845,000 after buying an additional 2,354 shares during the last quarter. Victory Capital Management Inc. raised its position in Axsome Therapeutics by 403.8% during the 3rd quarter. Victory Capital Management Inc. now owns 18,934 shares of the company’s stock worth $1,323,000 after buying an additional 15,176 shares during the last quarter. Wellington Management Group LLP raised its position in Axsome Therapeutics by 18.9% during the 3rd quarter. Wellington Management Group LLP now owns 237,554 shares of the company’s stock worth $16,603,000 after buying an additional 37,843 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new position in Axsome Therapeutics during the 3rd quarter worth $10,427,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Insiders Place Their Bets

In other 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 value of $2,089,327.20. Following the completion of the transaction, the director now owns 120,756 shares in the company, valued at approximately $8,416,693.20. The sale was disclosed in a document filed with the SEC, which is available at this link. 24.50% of the stock is currently owned by company insiders.

Axsome Therapeutics Company Profile

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.