William Blair Analysts Increase Earnings Estimates for AXSM

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Stock analysts at William Blair raised their FY2028 earnings per share estimates for shares of Axsome Therapeutics in a research note issued to investors on Monday, May 5th. William Blair analyst M. Minter now forecasts that the company will post earnings of $25.82 per share for the year, up from their prior forecast of $25.02. William Blair has a “Outperform” rating on the stock. The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($2.79) per share. William Blair also issued estimates for Axsome Therapeutics’ FY2029 earnings at $39.02 EPS.

Several other equities analysts have also recently issued reports on AXSM. Morgan Stanley boosted their price target on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Wells Fargo & Company reiterated an “overweight” rating and set a $165.00 target price (up previously from $160.00) on shares of Axsome Therapeutics in a report on Tuesday. Bank of America raised their target price on Axsome Therapeutics from $143.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Mizuho upped their price target on Axsome Therapeutics from $212.00 to $216.00 and gave the stock an “outperform” rating in a research note on Thursday, March 27th. Finally, Robert W. Baird increased their price objective on Axsome Therapeutics from $160.00 to $162.00 and gave the stock an “outperform” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $170.33.

Axsome Therapeutics Stock Down 3.7 %

Shares of Axsome Therapeutics stock opened at $112.16 on Wednesday. The company’s fifty day simple moving average is $113.06 and its two-hundred day simple moving average is $104.23. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $139.13. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. The company has a market cap of $5.52 billion, a P/E ratio of -18.72 and a beta of 0.46.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.01. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. The firm had revenue of $118.77 million for the quarter, compared to analysts’ expectations of $117.83 million.

Hedge Funds Weigh In On Axsome Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mutual of America Capital Management LLC lifted its holdings in shares of Axsome Therapeutics by 0.3% during the first quarter. Mutual of America Capital Management LLC now owns 39,623 shares of the company’s stock valued at $4,621,000 after purchasing an additional 136 shares in the last quarter. Pitcairn Co. lifted its stake in Axsome Therapeutics by 3.4% during the 4th quarter. Pitcairn Co. now owns 4,562 shares of the company’s stock valued at $386,000 after acquiring an additional 148 shares during the period. Meridian Wealth Management LLC boosted its holdings in shares of Axsome Therapeutics by 0.7% during the 4th quarter. Meridian Wealth Management LLC now owns 21,171 shares of the company’s stock valued at $1,791,000 after acquiring an additional 150 shares during the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Axsome Therapeutics by 4.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,852 shares of the company’s stock worth $326,000 after acquiring an additional 162 shares during the period. Finally, Arizona State Retirement System raised its holdings in shares of Axsome Therapeutics by 1.8% during the fourth quarter. Arizona State Retirement System now owns 9,054 shares of the company’s stock valued at $766,000 after purchasing an additional 164 shares during the last quarter. 81.49% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Nick Pizzie sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the sale, the chief financial officer now owns 42,187 shares of the company’s stock, valued at $5,529,450.09. This trade represents a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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.