HC Wainwright Research Analysts Lower Earnings Estimates for Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – HC Wainwright decreased their Q3 2024 earnings per share estimates for Axsome Therapeutics in a report released on Tuesday, August 6th. HC Wainwright analyst R. Selvaraju now forecasts that the company will post earnings of ($1.55) per share for the quarter, down from their prior forecast of ($1.22). HC Wainwright currently has a “Buy” rating and a $180.00 target price on the stock. The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($4.65) per share. HC Wainwright also issued estimates for Axsome Therapeutics’ Q4 2024 earnings at ($1.37) EPS, FY2024 earnings at ($5.25) EPS, Q1 2025 earnings at ($1.05) EPS, Q2 2025 earnings at ($0.62) EPS, Q3 2025 earnings at $0.14 EPS, Q4 2025 earnings at $1.06 EPS and FY2025 earnings at ($0.46) EPS.

Several other equities analysts have also recently commented on AXSM. Mizuho reaffirmed a “buy” rating and issued a $106.00 price target on shares of Axsome Therapeutics in a report on Wednesday, June 12th. UBS Group lowered their target price on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Needham & Company LLC restated a “buy” rating and set a $130.00 target price on shares of Axsome Therapeutics in a research report on Monday, August 5th. Morgan Stanley upgraded Axsome Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $90.00 to $115.00 in a research note on Monday, April 29th. Finally, Royal Bank of Canada dropped their target price on shares of Axsome Therapeutics from $131.00 to $130.00 and set an “outperform” rating for the company in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $123.38.

Axsome Therapeutics Stock Performance

NASDAQ AXSM opened at $83.09 on Friday. The company’s fifty day moving average is $80.36 and its two-hundred day moving average is $79.39. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of -13.02 and a beta of 1.26. 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 52-week low of $55.02 and a 52-week high of $98.40.

Institutional Investors Weigh In On Axsome Therapeutics

Large investors have recently bought and sold shares of the company. EntryPoint Capital LLC bought a new stake in shares of Axsome Therapeutics in the 1st quarter valued at $35,000. Russell Investments Group Ltd. grew its position in shares of Axsome Therapeutics by 5,550.0% in the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock valued at $63,000 after purchasing an additional 777 shares during the period. Covestor Ltd increased its stake in Axsome Therapeutics by 54,750.0% during the 1st quarter. Covestor Ltd now owns 1,097 shares of the company’s stock worth $88,000 after purchasing an additional 1,095 shares in the last quarter. Janiczek Wealth Management LLC bought a new position in Axsome Therapeutics in the first quarter valued at approximately $97,000. Finally, Natixis boosted its holdings in shares of Axsome Therapeutics by 13.6% in the first quarter. Natixis now owns 1,235 shares of the company’s stock valued at $99,000 after buying an additional 148 shares during the period. Institutional investors own 81.49% of the company’s stock.

Insider Buying and Selling at Axsome Therapeutics

In related news, COO Mark L. Jacobson sold 47,739 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $84.26, for a total value of $4,022,488.14. Following the transaction, the chief operating officer now directly owns 5,783 shares in the company, valued at $487,275.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, COO Mark L. Jacobson sold 7,910 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $74.31, for a total value of $587,792.10. Following the completion of the sale, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at approximately $429,734.73. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Mark L. Jacobson sold 47,739 shares of the stock in a transaction that occurred on 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 sale, the chief operating officer now owns 5,783 shares in the company, valued at $487,275.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,898 shares of company stock worth $5,005,058. Company insiders own 22.40% of the company’s stock.

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.