HC Wainwright Research Analysts Lower Earnings Estimates for Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Stock analysts at HC Wainwright cut their Q3 2024 earnings per share (EPS) estimates for shares of Axsome Therapeutics in a research report issued to clients and investors on Tuesday, August 6th. HC Wainwright analyst R. Selvaraju now forecasts that the company will earn ($1.55) per share for the quarter, down from their previous forecast of ($1.22). HC Wainwright has a “Buy” rating and a $180.00 price target on the stock. The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($4.65) per share. HC Wainwright also issued estimates for Axsome Therapeutics’ Q4 2024 earnings at ($1.37) EPS, FY2024 earnings at ($5.25) EPS, Q1 2025 earnings at ($1.05) EPS, Q2 2025 earnings at ($0.62) EPS, Q3 2025 earnings at $0.14 EPS, Q4 2025 earnings at $1.06 EPS and FY2025 earnings at ($0.46) EPS.

Other research analysts have also issued research reports about the company. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, August 6th. UBS Group lowered their price target on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Bank of America raised Axsome Therapeutics from a “neutral” rating to a “buy” rating and upped their price target for the company from $95.00 to $106.00 in a research report on Tuesday, August 6th. Citigroup lowered their price target on Axsome Therapeutics from $127.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th. Finally, Morgan Stanley raised Axsome Therapeutics from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $90.00 to $115.00 in a research report on Monday, April 29th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Axsome Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $123.38.

Axsome Therapeutics Trading Down 2.2 %

Shares of AXSM stock opened at $83.09 on Friday. The stock has a market capitalization of $3.95 billion, a PE ratio of -13.02 and a beta of 1.26. Axsome Therapeutics has a 1-year low of $55.02 and a 1-year high of $98.40. The business has a 50-day moving average of $80.36 and a 200 day moving average of $79.39. The company has a debt-to-equity ratio of 1.25, a current ratio of 3.20 and a quick ratio of 3.09.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark Coleman sold 5,249 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $75.21, for a total transaction of $394,777.29. Following the sale, the director now directly owns 19,848 shares in the company, valued at approximately $1,492,768.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Axsome Therapeutics news, COO Mark L. Jacobson sold 47,739 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the sale, the chief operating officer now directly owns 5,783 shares in the company, valued at approximately $487,275.58. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark Coleman sold 5,249 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $75.21, for a total value of $394,777.29. Following the completion of the transaction, the director now owns 19,848 shares in the company, valued at $1,492,768.08. The disclosure for this sale can be found here. Insiders sold a total of 60,898 shares of company stock valued at $5,005,058 in the last 90 days. Corporate insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Axsome Therapeutics by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock valued at $298,474,000 after purchasing an additional 43,512 shares in the last quarter. Perceptive Advisors LLC lifted its position in Axsome Therapeutics by 115.5% during the fourth quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock valued at $82,616,000 after purchasing an additional 556,370 shares in the last quarter. Point72 Asset Management L.P. lifted its position in Axsome Therapeutics by 57.4% during the fourth quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock valued at $66,633,000 after purchasing an additional 305,264 shares in the last quarter. Bellevue Group AG lifted its position in Axsome Therapeutics by 7.9% during the first quarter. Bellevue Group AG now owns 685,476 shares of the company’s stock valued at $54,701,000 after purchasing an additional 50,104 shares in the last quarter. Finally, Hood River Capital Management LLC raised its holdings in 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 acquiring an additional 127,997 shares during the period. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

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.