Leerink Partnrs Brokers Decrease Earnings Estimates for AXSM

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Research analysts at Leerink Partnrs reduced their FY2027 EPS estimates for shares of Axsome Therapeutics in a report issued on Tuesday, November 12th. Leerink Partnrs analyst M. Goodman now forecasts that the company will earn $5.90 per share for the year, down from their prior estimate of $6.45. The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($5.12) per share. Leerink Partnrs also issued estimates for Axsome Therapeutics’ FY2028 earnings at $10.40 EPS.

Other analysts have also issued research reports about the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $107.00 price objective on shares of Axsome Therapeutics in a research note on Monday, September 16th. Needham & Company LLC reiterated a “buy” rating and set a $130.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday. HC Wainwright reiterated a “buy” rating and set a $180.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Robert W. Baird lifted their price objective on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, StockNews.com lowered shares of Axsome Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Axsome Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $124.93.

Axsome Therapeutics Trading Down 0.5 %

AXSM opened at $97.37 on Thursday. The firm has a market capitalization of $4.62 billion, a P/E ratio of -14.96 and a beta of 1.26. The firm’s 50 day moving average is $90.59 and its 200-day moving average is $84.05. Axsome Therapeutics has a 52-week low of $56.66 and a 52-week high of $105.00. The company has a quick ratio of 2.40, a current ratio of 2.44 and a debt-to-equity ratio of 1.97.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.04. The firm had revenue of $104.76 million during the quarter, compared to the consensus estimate of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same quarter in the prior year, the company earned ($1.32) EPS.

Institutional Investors Weigh In On Axsome Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Natixis raised its position in Axsome Therapeutics by 13.6% in the first quarter. Natixis now owns 1,235 shares of the company’s stock worth $99,000 after acquiring an additional 148 shares in the last quarter. Arizona State Retirement System raised its position in Axsome Therapeutics by 2.1% in the second quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock worth $695,000 after acquiring an additional 177 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Axsome Therapeutics by 22.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock worth $156,000 after acquiring an additional 318 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in Axsome Therapeutics in the second quarter worth about $27,000. Finally, WCM Investment Management LLC raised its position in Axsome Therapeutics by 0.3% in the third quarter. WCM Investment Management LLC now owns 113,692 shares of the company’s stock worth $10,191,000 after acquiring an additional 347 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors.

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 shares were sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the sale, the director now directly owns 10,002 shares in the company, valued at $913,282.62. The trade was a 52.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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.