Q3 2024 Earnings Estimate for Axsome Therapeutics, Inc. (NASDAQ:AXSM) Issued By William Blair

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Equities research analysts at William Blair decreased their Q3 2024 earnings per share (EPS) estimates for Axsome Therapeutics in a research report issued to clients and investors on Monday, August 5th. William Blair analyst M. Minter now forecasts that the company will post earnings per share of ($1.30) for the quarter, down from their previous forecast of ($1.16). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($4.65) per share. William Blair also issued estimates for Axsome Therapeutics’ Q4 2024 earnings at ($0.90) EPS, FY2024 earnings at ($4.45) EPS, Q1 2025 earnings at ($0.82) EPS, Q2 2025 earnings at ($0.31) EPS, Q4 2025 earnings at $0.53 EPS and FY2025 earnings at ($0.53) EPS.

Several other equities analysts have also recently commented on AXSM. Morgan Stanley upgraded Axsome Therapeutics from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $90.00 to $115.00 in a research note on Monday, April 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $107.00 price objective on shares of Axsome Therapeutics in a research note on Friday, July 26th. HC Wainwright cut their target price on shares of Axsome Therapeutics from $190.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday. UBS Group decreased their price target on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Bank of America upgraded Axsome Therapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $95.00 to $106.00 in a research note on Tuesday. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $123.38.

Axsome Therapeutics Stock Down 2.2 %

AXSM traded down $1.91 on Thursday, reaching $83.09. The company’s stock had a trading volume of 428,591 shares, compared to its average volume of 699,726. The company has a debt-to-equity ratio of 1.25, a current ratio of 3.20 and a quick ratio of 3.09. Axsome Therapeutics has a 1 year low of $55.02 and a 1 year high of $98.40. The business’s 50 day moving average is $80.16 and its 200 day moving average is $79.45. The stock has a market cap of $3.95 billion, a price-to-earnings ratio of -13.02 and a beta of 1.26.

Insider Activity

In other Axsome Therapeutics news, Director Mark Coleman sold 5,249 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were 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 approximately $1,492,768.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Axsome Therapeutics news, Director Mark Coleman sold 5,249 shares of the business’s 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 completion of the transaction, the director now owns 19,848 shares in the company, valued at approximately $1,492,768.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Mark L. Jacobson sold 47,739 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the completion of the transaction, the chief operating officer now owns 5,783 shares of the company’s stock, valued at approximately $487,275.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,898 shares of company stock valued at $5,005,058. 22.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Axsome Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock worth $298,474,000 after acquiring an additional 43,512 shares in the last quarter. Perceptive Advisors LLC boosted its holdings in shares of Axsome Therapeutics by 115.5% during the fourth quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock worth $82,616,000 after purchasing an additional 556,370 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of Axsome Therapeutics by 57.4% during the fourth quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock worth $66,633,000 after purchasing an additional 305,264 shares during the period. Bellevue Group AG lifted its stake in Axsome Therapeutics by 7.9% in the first quarter. Bellevue Group AG now owns 685,476 shares of the company’s stock valued at $54,701,000 after acquiring an additional 50,104 shares during the last quarter. Finally, Hood River Capital Management LLC lifted its stake in Axsome Therapeutics by 32.6% in 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 last quarter. 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.