FY2029 Earnings Estimate for AXSM Issued By Leerink Partnrs

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Stock analysts at Leerink Partnrs upped their FY2029 EPS estimates for Axsome Therapeutics in a report released on Thursday, July 10th. Leerink Partnrs analyst M. Goodman now anticipates that the company will earn $15.85 per share for the year, up from their previous estimate of $15.40. The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($2.79) per share.

Other equities analysts have also issued research reports about the stock. HC Wainwright reiterated a “buy” rating and set a $180.00 price objective on shares of Axsome Therapeutics in a report on Tuesday, June 10th. Mizuho upped their price objective on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the company an “outperform” rating in a report on Thursday, March 27th. Cantor Fitzgerald upgraded shares of Axsome Therapeutics to a “strong-buy” rating in a report on Wednesday, May 14th. Needham & Company LLC dropped their price objective on shares of Axsome Therapeutics from $153.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, June 9th. Finally, Robert W. Baird raised their price target on shares of Axsome Therapeutics from $160.00 to $162.00 and gave the company an “outperform” rating in a research report on Tuesday, May 6th. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $172.33.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM opened at $110.12 on Monday. The firm’s 50-day moving average price is $106.39 and its 200-day moving average price is $108.75. Axsome Therapeutics has a 1-year low of $72.21 and a 1-year high of $139.13. The firm has a market capitalization of $5.42 billion, a P/E ratio of -19.08 and a beta of 0.46. The company has a current ratio of 2.03, a quick ratio of 1.96 and a debt-to-equity ratio of 3.48.

Insider Buying and Selling at Axsome Therapeutics

In other news, COO Mark L. Jacobson sold 25,000 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $110.44, for a total transaction of $2,761,000.00. Following the completion of the transaction, the chief operating officer directly owned 5,783 shares of the company’s stock, valued at $638,674.52. This represents a 81.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Hunter R. Murdock sold 6,014 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $100.12, for a total transaction of $602,121.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,437 shares of company stock worth $9,834,215. Insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Pallas Capital Advisors LLC grew its position in shares of Axsome Therapeutics by 7.1% during the 2nd quarter. Pallas Capital Advisors LLC now owns 37,772 shares of the company’s stock valued at $3,943,000 after acquiring an additional 2,492 shares during the period. Rhumbline Advisers grew its position in shares of Axsome Therapeutics by 6.9% during the 1st quarter. Rhumbline Advisers now owns 54,760 shares of the company’s stock valued at $6,387,000 after acquiring an additional 3,515 shares during the period. Strs Ohio bought a new position in Axsome Therapeutics in the 1st quarter worth approximately $1,213,000. McAdam LLC bought a new position in Axsome Therapeutics in the 1st quarter worth approximately $256,000. Finally, Intech Investment Management LLC boosted its holdings in Axsome Therapeutics by 26.6% in the 1st quarter. Intech Investment Management LLC now owns 20,298 shares of the company’s stock worth $2,367,000 after buying an additional 4,270 shares during the period. 81.49% of the stock is owned by institutional investors.

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.