HC Wainwright Has Optimistic Outlook of AXSM FY2024 Earnings

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Research analysts at HC Wainwright raised their FY2024 EPS estimates for Axsome Therapeutics in a note issued to investors on Tuesday, January 21st. HC Wainwright analyst R. Selvaraju now forecasts that the company will post earnings of ($4.58) per share for the year, up from their prior forecast of ($4.60). 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 ($4.73) per share. HC Wainwright also issued estimates for Axsome Therapeutics’ Q4 2024 earnings at ($0.92) EPS, Q1 2025 earnings at ($0.85) EPS, Q2 2025 earnings at ($0.59) EPS, Q3 2025 earnings at ($0.31) EPS, Q4 2025 earnings at $0.38 EPS and FY2025 earnings at ($1.37) EPS.

A number of other analysts also recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $121.00 target price on shares of Axsome Therapeutics in a research report on Thursday, December 12th. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Truist Financial upped their price objective on shares of Axsome Therapeutics from $150.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $133.00 target price on shares of Axsome Therapeutics in a research report on Monday, January 13th. Finally, Robert W. Baird increased their price target on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Axsome Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $130.69.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock opened at $102.27 on Thursday. The business’s fifty day moving average price is $92.32 and its 200 day moving average price is $89.80. Axsome Therapeutics has a twelve month low of $64.11 and a twelve month high of $105.00. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, beating the consensus estimate of ($1.38) by $0.04. The firm had revenue of $104.76 million during the quarter, compared to analyst estimates 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 posted ($1.32) earnings per share.

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in AXSM. FMR LLC boosted its stake in Axsome Therapeutics by 20.6% in the third quarter. FMR LLC now owns 1,088,087 shares of the company’s stock valued at $97,786,000 after acquiring an additional 185,951 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Axsome Therapeutics by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 908,459 shares of the company’s stock valued at $81,659,000 after purchasing an additional 23,564 shares during the period. Wellington Management Group LLP boosted its position in shares of Axsome Therapeutics by 1.1% in the 3rd quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock worth $66,750,000 after purchasing an additional 8,125 shares during the last quarter. Millennium Management LLC grew its stake in shares of Axsome Therapeutics by 1.4% during the second quarter. Millennium Management LLC now owns 739,819 shares of the company’s stock worth $59,555,000 after purchasing an additional 10,401 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Axsome Therapeutics by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 322,596 shares of the company’s stock worth $28,992,000 after purchasing an additional 12,778 shares during the period. Institutional investors own 81.49% 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.