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

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Stock analysts at William Blair lifted their Q1 2024 earnings estimates for shares of Axsome Therapeutics in a research note issued to investors on Wednesday, April 17th. William Blair analyst M. Minter now anticipates that the company will post earnings of ($1.26) per share for the quarter, up from their previous estimate of ($1.35). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($3.85) per share. William Blair also issued estimates for Axsome Therapeutics’ FY2024 earnings at ($4.03) EPS.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly 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. 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 for the quarter, compared to analysts’ expectations of $70.38 million.

A number of other research analysts have also recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $107.00 price target on shares of Axsome Therapeutics in a research report on Wednesday, April 10th. HC Wainwright restated a “buy” rating and issued a $190.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, April 2nd. UBS Group started coverage on shares of Axsome Therapeutics in a research note on Tuesday, February 6th. They issued a “buy” rating and a $111.00 price target for the company. Citigroup boosted their target price on shares of Axsome Therapeutics from $125.00 to $127.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. Finally, Mizuho boosted their target price on shares of Axsome Therapeutics from $108.00 to $109.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. One 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’s stock. According to MarketBeat, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.67.

Axsome Therapeutics Stock Down 5.7 %

Shares of AXSM stock opened at $65.72 on Friday. 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 has a fifty-two week low of $55.02 and a fifty-two week high of $98.40. The firm’s 50 day moving average price is $78.69 and its two-hundred day moving average price is $75.10.

Insider Activity

In other news, Director Roger Jeffs sold 29,976 shares of the business’s stock in a transaction 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 $8,416,693.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Axsome Therapeutics news, COO Mark L. Jacobson sold 24,662 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $77.24, for a total value of $1,904,892.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Roger Jeffs sold 29,976 shares of Axsome Therapeutics stock in a transaction on Thursday, March 14th. The stock was 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 $8,416,693.20. The disclosure for this sale can be found here. Corporate insiders own 24.50% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Washington Trust Advisors Inc. acquired a new stake in shares of Axsome Therapeutics during the fourth quarter valued at approximately $26,000. Harbour Investments Inc. raised its holdings in shares of Axsome Therapeutics by 461.5% during the second quarter. Harbour Investments Inc. now owns 365 shares of the company’s stock valued at $26,000 after acquiring an additional 300 shares during the period. Fifth Third Bancorp raised its holdings in shares of Axsome Therapeutics by 100.0% during the third quarter. Fifth Third Bancorp now owns 400 shares of the company’s stock valued at $28,000 after acquiring an additional 200 shares during the period. Captrust Financial Advisors raised its holdings in shares of Axsome Therapeutics by 582.0% during the first quarter. Captrust Financial Advisors now owns 757 shares of the company’s stock valued at $31,000 after acquiring an additional 646 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Axsome Therapeutics by 141.1% during the first quarter. Tower Research Capital LLC TRC now owns 815 shares of the company’s stock valued at $50,000 after acquiring an additional 477 shares during the period. Institutional investors and hedge funds 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.