What is HC Wainwright’s Estimate for AXSM FY2024 Earnings?

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Stock analysts at HC Wainwright raised their FY2024 earnings estimates for shares of Axsome Therapeutics in a note issued to investors on Monday, November 25th. HC Wainwright analyst R. Selvaraju now anticipates that the company will post earnings per share of ($4.60) for the year, up from their previous forecast of ($5.25). HC Wainwright has a “Buy” rating and a $180.00 price target on the stock. The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($4.75) per share. HC Wainwright also issued estimates for Axsome Therapeutics’ Q4 2024 earnings at ($0.94) EPS, Q1 2025 earnings at ($0.81) EPS, Q2 2025 earnings at ($0.44) EPS, Q3 2025 earnings at $0.03 EPS, Q4 2025 earnings at $0.79 EPS and FY2025 earnings at ($0.41) EPS.

Axsome Therapeutics (NASDAQ:AXSM) last announced 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 firm had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. During the same period in the prior year, the firm earned ($1.32) EPS.

Several other equities research analysts also recently weighed in on the company. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Robert W. Baird lifted their price target on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, November 12th. UBS Group decreased 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 report on Tuesday, August 6th. Finally, Royal Bank of Canada increased their price target on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, October 4th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $124.93.

Axsome Therapeutics Price Performance

Shares of AXSM opened at $99.65 on Wednesday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. Axsome Therapeutics has a fifty-two week low of $64.11 and a fifty-two week high of $105.00. The firm has a 50-day simple moving average of $91.48 and a 200-day simple moving average of $85.67. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of -15.26 and a beta of 1.26.

Insider Activity

In related news, Director Mark E. Saad sold 11,016 shares of Axsome Therapeutics stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the completion of the sale, the director now owns 10,002 shares in the company, valued at approximately $913,282.62. This trade represents a 52.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AXSM. Vanguard Group Inc. raised its holdings in Axsome Therapeutics by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock valued at $298,474,000 after acquiring an additional 43,512 shares during the last quarter. XTX Topco Ltd grew its position in shares of Axsome Therapeutics by 177.9% in the second quarter. XTX Topco Ltd now owns 11,205 shares of the company’s stock valued at $902,000 after purchasing an additional 7,173 shares during the period. Tri Locum Partners LP increased its stake in Axsome Therapeutics by 198.4% in the second quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock valued at $24,674,000 after purchasing an additional 203,802 shares during the last quarter. Sofinnova Investments Inc. purchased a new position in Axsome Therapeutics during the second quarter worth about $24,971,000. Finally, Point72 Europe London LLP acquired a new stake in Axsome Therapeutics in the 2nd quarter worth about $2,475,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

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.