William Blair Has Negative Outlook for AXSM Q3 Earnings

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Research analysts at William Blair dropped their Q3 2024 EPS estimates for shares of Axsome Therapeutics in a research report issued on Tuesday, November 12th. William Blair analyst M. Minter now expects that the company will post earnings per share of ($1.41) for the quarter, down from their prior forecast of ($1.30). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($5.12) per share. William Blair also issued estimates for Axsome Therapeutics’ Q4 2024 earnings at ($1.15) EPS, FY2024 earnings at ($4.80) EPS, Q1 2025 earnings at ($1.10) EPS, Q2 2025 earnings at ($0.66) EPS, Q3 2025 earnings at ($0.31) EPS, Q4 2025 earnings at $0.18 EPS and FY2025 earnings at ($1.88) EPS.

Several other brokerages also recently issued reports on AXSM. Wells Fargo & Company started coverage on Axsome Therapeutics in a research report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and set a $180.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, September 5th. StockNews.com cut shares of Axsome Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday. UBS Group reduced their target price on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price target on shares of Axsome Therapeutics in a report on Tuesday. One equities research analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $124.93.

Axsome Therapeutics Stock Down 1.7 %

AXSM opened at $97.83 on Thursday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.40 and a current ratio of 2.44. The company has a market cap of $4.65 billion, a price-to-earnings ratio of -14.98 and a beta of 1.26. Axsome Therapeutics has a one year low of $56.66 and a one year high of $105.00. The business’s fifty day moving average is $90.59 and its two-hundred day moving average is $84.05.

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

Institutional Trading of Axsome Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in AXSM. Northwestern Mutual Wealth Management Co. bought a new position in shares of Axsome Therapeutics in the second quarter valued at $27,000. EntryPoint Capital LLC acquired a new position in shares of Axsome Therapeutics in the 1st quarter valued at $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Axsome Therapeutics in the 2nd quarter worth about $47,000. Russell Investments Group Ltd. raised its holdings in Axsome Therapeutics by 5,550.0% during the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after buying an additional 777 shares during the period. Finally, Covestor Ltd lifted its stake in Axsome Therapeutics by 54,750.0% during the first quarter. Covestor Ltd now owns 1,097 shares of the company’s stock valued at $88,000 after buying an additional 1,095 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors.

Insider Activity

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was 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 directly owns 10,002 shares in the company, valued at $913,282.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 22.40% 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.