Brokers Set Expectations for Axsome Therapeutics, Inc.’s Q1 2024 Earnings (NASDAQ:AXSM)

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Investment analysts at Leerink Partnrs reduced their Q1 2024 earnings estimates for Axsome Therapeutics in a research report issued to clients and investors on Tuesday, April 9th. Leerink Partnrs analyst M. Goodman now expects that the company will earn ($1.33) per share for the quarter, down from their prior estimate of ($1.30). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($3.73) per share. Leerink Partnrs also issued estimates for Axsome Therapeutics’ Q2 2024 earnings at ($1.26) EPS, Q3 2024 earnings at ($0.93) EPS, Q4 2024 earnings at ($0.78) EPS and FY2024 earnings at ($4.30) EPS.

AXSM has been the topic of a number of other research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a report on Wednesday. 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 report on Wednesday, February 21st. UBS Group assumed coverage on shares of Axsome Therapeutics in a report on Tuesday, February 6th. They issued a “buy” rating and a $111.00 price objective on the stock. Piper Sandler increased their price objective on shares of Axsome Therapeutics from $90.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Finally, Mizuho increased their price objective on shares of Axsome Therapeutics from $108.00 to $109.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $119.67.

Axsome Therapeutics Stock Down 3.6 %

Shares of NASDAQ:AXSM opened at $69.15 on Friday. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of -13.30 and a beta of 1.13. Axsome Therapeutics has a 1-year low of $55.02 and a 1-year high of $98.40. The company’s fifty day moving average is $80.16 and its two-hundred day moving average is $75.14. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.52 and a current ratio of 3.63.

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

Insider Activity

In other news, Director Roger Jeffs sold 29,976 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $8,416,693.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, COO Mark L. Jacobson sold 24,662 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $77.24, for a total transaction of $1,904,892.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Roger Jeffs sold 29,976 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 120,756 shares of the company’s stock, valued at $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

Hedge funds and other institutional investors have recently made changes to their positions in the company. Washington Trust Advisors Inc. acquired a new position in shares of Axsome Therapeutics in the fourth quarter worth about $26,000. Harbour Investments Inc. boosted its holdings in shares of Axsome Therapeutics by 461.5% in the second quarter. Harbour Investments Inc. now owns 365 shares of the company’s stock worth $26,000 after buying an additional 300 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Axsome Therapeutics by 100.0% in the third quarter. Fifth Third Bancorp now owns 400 shares of the company’s stock worth $28,000 after buying an additional 200 shares during the period. KBC Group NV acquired a new position in shares of Axsome Therapeutics in the fourth quarter worth about $55,000. Finally, Captrust Financial Advisors boosted its holdings in shares of Axsome Therapeutics by 582.0% in the first quarter. Captrust Financial Advisors now owns 757 shares of the company’s stock worth $31,000 after buying an additional 646 shares during the period. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.