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

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Analysts at HC Wainwright raised their FY2024 earnings per share (EPS) estimates for Axsome Therapeutics in a research note issued to investors on Monday, November 25th. HC Wainwright analyst R. Selvaraju now forecasts that the company will post earnings per share of ($4.60) for the year, up from their prior estimate of ($5.25). 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 ($4.75) 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.

Other equities analysts have also recently issued research reports about the company. Robert W. Baird raised 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. StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Royal Bank of Canada raised their target price on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. UBS Group reduced their target price on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, Bank of America upgraded Axsome Therapeutics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $95.00 to $106.00 in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $124.93.

Axsome Therapeutics Price Performance

Axsome Therapeutics stock opened at $99.65 on Wednesday. The business’s 50-day simple moving average is $91.21 and its 200 day simple moving average is $85.47. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of -14.86 and a beta of 1.26. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $105.00. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.38) by $0.04. The business had revenue of $104.76 million for 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 quarter last year, the business earned ($1.32) earnings per share.

Insiders Place Their Bets

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 10,002 shares of the company’s stock, valued at $913,282.62. The trade was a 52.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Axsome Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock worth $298,474,000 after acquiring an additional 43,512 shares during the period. FMR LLC boosted its stake in shares of Axsome Therapeutics by 20.6% during the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company’s stock worth $97,786,000 after acquiring an additional 185,951 shares during the period. Geode Capital Management LLC boosted its stake in shares of Axsome Therapeutics by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 908,459 shares of the company’s stock worth $81,659,000 after acquiring an additional 23,564 shares during the period. Wellington Management Group LLP boosted its stake in Axsome Therapeutics by 1.1% in the 3rd quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock valued at $66,750,000 after purchasing an additional 8,125 shares during the period. Finally, Millennium Management LLC boosted its stake in Axsome Therapeutics by 1.4% in the 2nd quarter. Millennium Management LLC now owns 739,819 shares of the company’s stock valued at $59,555,000 after purchasing an additional 10,401 shares during the period. 81.49% of the stock is currently 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.