Zacks Research Issues Pessimistic Forecast for AXSM Earnings

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Stock analysts at Zacks Research reduced their FY2024 earnings estimates for Axsome Therapeutics in a research report issued on Tuesday, December 3rd. Zacks Research analyst R. Department now forecasts that the company will post earnings of ($5.32) per share for the year, down from their prior forecast of ($5.16). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($4.58) per share. Zacks Research also issued estimates for Axsome Therapeutics’ Q4 2024 earnings at ($1.65) EPS, Q1 2025 earnings at ($1.69) EPS, Q2 2025 earnings at ($1.56) EPS, Q3 2025 earnings at ($1.12) EPS, Q4 2025 earnings at ($1.03) EPS, FY2025 earnings at ($5.41) EPS, Q1 2026 earnings at ($0.51) EPS, Q2 2026 earnings at ($0.09) EPS, Q3 2026 earnings at $0.26 EPS and FY2026 earnings at $0.13 EPS.

AXSM has been the subject of several other research reports. Robert W. Baird boosted their price target on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Royal Bank of Canada boosted their target price on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, November 12th. Cantor Fitzgerald reiterated an “overweight” rating and set a $107.00 price objective on shares of Axsome Therapeutics in a research note on Monday, September 16th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $180.00 price target on shares of Axsome Therapeutics in a research note on Monday, November 25th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $124.93.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $98.35 on Friday. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $105.00. The company has a market capitalization of $4.77 billion, a P/E ratio of -15.06 and a beta of 1.18. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. The business’s 50 day moving average is $92.23 and its two-hundred day moving average is $86.45.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The firm had revenue of $104.76 million during the quarter, compared to analyst estimates of $98.71 million. During the same period in the previous year, the firm earned ($1.32) EPS.

Institutional Investors Weigh In On Axsome Therapeutics

Institutional investors have recently made changes to their positions in the stock. PDT Partners LLC purchased a new position in Axsome Therapeutics during the 3rd quarter valued at about $1,052,000. XTX Topco Ltd lifted its stake in Axsome Therapeutics by 177.9% in the 2nd quarter. XTX Topco Ltd now owns 11,205 shares of the company’s stock valued at $902,000 after buying an additional 7,173 shares in the last quarter. Tri Locum Partners LP grew its holdings in Axsome Therapeutics by 198.4% during the 2nd quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock valued at $24,674,000 after buying an additional 203,802 shares during the last quarter. Sofinnova Investments Inc. acquired a new position in shares of Axsome Therapeutics in the second quarter worth $24,971,000. Finally, Point72 Europe London LLP purchased a new stake in shares of Axsome Therapeutics in the second quarter valued at $2,475,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Axsome Therapeutics

In other news, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total value of $1,005,870.96. Following the completion of the sale, the director now owns 10,002 shares in the company, valued at approximately $913,282.62. This trade represents a 52.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.40% of the stock is owned by insiders.

About Axsome Therapeutics

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.