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

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Stock analysts at William Blair boosted their Q1 2024 earnings estimates for shares of Axsome Therapeutics in a report released on Wednesday, April 17th. William Blair analyst M. Minter now forecasts that the company will post earnings of ($1.26) per share for the quarter, up from their previous forecast 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.

Other equities analysts also recently issued reports about the stock. UBS Group assumed coverage on shares of Axsome Therapeutics in a report on Tuesday, February 6th. They issued a “buy” rating and a $111.00 price objective on the stock. Guggenheim upped their price target on shares of Axsome Therapeutics from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Truist Financial restated a “buy” rating and set a $150.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, March 26th. Citigroup upped their target price on Axsome Therapeutics from $125.00 to $127.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. Finally, Mizuho lifted their price target on Axsome Therapeutics from $108.00 to $109.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. One research 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $119.67.

Axsome Therapeutics Price Performance

AXSM stock opened at $65.72 on Friday. Axsome Therapeutics has a 1-year low of $55.02 and a 1-year high of $98.40. The business’s 50 day simple moving average is $78.69 and its 200 day simple moving average is $75.10. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.63 and a quick ratio of 3.52.

Axsome Therapeutics (NASDAQ:AXSM) last announced 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 return on equity of 70.67% and a negative net margin of 88.41%. The firm had revenue of $71.53 million for the quarter, compared to the consensus estimate of $70.38 million.

Insider Activity at Axsome Therapeutics

In other news, COO Mark L. Jacobson sold 24,662 shares of Axsome Therapeutics 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, COO Mark L. Jacobson sold 24,662 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $77.24, for a total value of $1,904,892.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Roger Jeffs sold 29,976 shares of the stock in a transaction that occurred 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 directly owns 120,756 shares of the company’s stock, valued at approximately $8,416,693.20. The disclosure for this sale can be found here. 24.50% of the stock is currently owned by insiders.

Institutional Trading of Axsome Therapeutics

A number of hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in Axsome Therapeutics by 0.5% in the 1st quarter. JPMorgan Chase & Co. now owns 176,086 shares of the company’s stock valued at $7,288,000 after buying an additional 843 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Axsome Therapeutics in the 1st quarter valued at approximately $732,000. MetLife Investment Management LLC raised its stake in shares of Axsome Therapeutics by 59.0% during the first quarter. MetLife Investment Management LLC now owns 17,348 shares of the company’s stock valued at $718,000 after acquiring an additional 6,439 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in shares of Axsome Therapeutics in the first quarter worth $526,000. Finally, Sei Investments Co. increased its holdings in Axsome Therapeutics by 1.3% in the first quarter. Sei Investments Co. now owns 146,363 shares of the company’s stock valued at $6,059,000 after purchasing an additional 1,909 shares during the period. 81.49% of the stock is owned by institutional investors and hedge funds.

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.