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

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Equities research analysts at HC Wainwright cut their Q2 2024 earnings estimates for Axsome Therapeutics in a report released on Tuesday, March 26th. HC Wainwright analyst R. Selvaraju now expects that the company will post earnings per share of ($1.08) for the quarter, down from their previous forecast 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.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.73) EPS 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 business had revenue of $71.53 million during the quarter, compared to the consensus estimate of $70.38 million.

Other equities research analysts also recently issued reports about the stock. Guggenheim lifted 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. Cantor Fitzgerald restated an “overweight” rating and set a $108.00 target price on shares of Axsome Therapeutics in a research report on Tuesday, February 20th. Robert W. Baird assumed coverage on shares of Axsome Therapeutics in a research report on Tuesday, March 19th. They set an “outperform” rating and a $108.00 target price for the company. Truist Financial restated a “buy” rating and set a $150.00 target price on shares of Axsome Therapeutics in a research report on Tuesday. Finally, UBS Group assumed coverage on shares of Axsome Therapeutics in a research report on Tuesday, February 6th. They set a “buy” rating and a $111.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $119.67.

Axsome Therapeutics Stock Up 3.2 %

NASDAQ:AXSM opened at $79.17 on Thursday. Axsome Therapeutics has a 12 month low of $55.02 and a 12 month high of $98.40. The firm has a fifty day simple moving average of $84.10 and a 200-day simple moving average of $75.29. The company has a current ratio of 3.63, a quick ratio of 3.52 and a debt-to-equity ratio of 0.93.

Insider Buying and Selling at Axsome Therapeutics

In related news, Director Roger Jeffs sold 29,976 shares of the stock in a transaction that occurred 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 transaction, the director now owns 120,756 shares of the company’s stock, valued at approximately $8,416,693.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 24.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Washington Trust Advisors Inc. purchased a new position in Axsome Therapeutics in the 4th quarter valued at approximately $26,000. Harbour Investments Inc. boosted its position in Axsome Therapeutics by 461.5% in the 2nd quarter. Harbour Investments Inc. now owns 365 shares of the company’s stock valued at $26,000 after buying an additional 300 shares during the period. Fifth Third Bancorp boosted its position in Axsome Therapeutics by 100.0% in the 3rd quarter. Fifth Third Bancorp now owns 400 shares of the company’s stock valued at $28,000 after buying an additional 200 shares during the period. Captrust Financial Advisors boosted its position in Axsome Therapeutics by 582.0% in 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 during the period. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Axsome Therapeutics by 141.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 815 shares of the company’s stock valued at $50,000 after purchasing an additional 477 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

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.