Q1 2024 Earnings Forecast for Axsome Therapeutics, Inc. (NASDAQ:AXSM) Issued By Zacks Research

Posted by on Jul 14th, 2023

Axsome Therapeutics, Inc. (NASDAQ:AXSM – Free Report) – Equities researchers at Zacks Research raised their Q1 2024 earnings estimates for Axsome Therapeutics in a report released on Tuesday, July 11th. Zacks Research analyst A. Chakraborty now expects that the company will post earnings per share of ($1.01) for the quarter, up from their previous forecast of ($1.08). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($3.70) per share. Zacks Research also issued estimates for Axsome Therapeutics’ Q2 2024 earnings at ($0.87) EPS, Q3 2024 earnings at ($0.61) EPS, Q4 2024 earnings at ($0.51) EPS, FY2024 earnings at ($3.00) EPS, Q1 2025 earnings at ($0.42) EPS, Q2 2025 earnings at ($0.17) EPS and FY2025 earnings at $0.07 EPS.

A number of other analysts also recently weighed in on AXSM. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, May 11th. Mizuho raised their price target on shares of Axsome Therapeutics from $84.00 to $95.00 in a research report on Thursday, May 11th. Morgan Stanley raised their price target on shares of Axsome Therapeutics from $83.00 to $87.00 in a research report on Tuesday, May 9th. Guggenheim raised their price target on shares of Axsome Therapeutics from $90.00 to $100.00 in a research report on Tuesday, May 9th. Finally, HC Wainwright restated a “buy” rating and set a $200.00 price objective on shares of Axsome Therapeutics in a research note on Monday, April 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Axsome Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $103.69.

Axsome Therapeutics Stock Down 1.6 %

AXSM stock opened at $73.00 on Thursday. Axsome Therapeutics has a twelve month low of $35.16 and a twelve month high of $91.29. The company has a current ratio of 3.02, a quick ratio of 2.95 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $3.18 billion, a P/E ratio of -19.21 and a beta of 1.84. The firm has a 50 day simple moving average of $76.40 and a 200-day simple moving average of $70.17.

Axsome Therapeutics (NASDAQ:AXSM – Get Free Report) last issued its quarterly earnings data on Monday, May 8th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.13) by $0.91. Axsome Therapeutics had a negative net margin of 109.75% and a negative return on equity of 152.04%. The company had revenue of $94.58 million during the quarter, compared to the consensus estimate of $26.87 million.

Institutional Investors Weigh In On Axsome Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors raised its stake in shares of Axsome Therapeutics by 582.0% during the first quarter. Captrust Financial Advisors now owns 757 shares of the company’s stock valued at $31,000 after purchasing an additional 646 shares in the last quarter. Armstrong Advisory Group Inc. bought a new stake in shares of Axsome Therapeutics during the fourth quarter valued at about $33,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Axsome Therapeutics by 33.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 589 shares of the company’s stock valued at $36,000 after purchasing an additional 148 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Axsome Therapeutics by 141.1% during the first quarter. Tower Research Capital LLC TRC now owns 815 shares of the company’s stock valued at $50,000 after purchasing an additional 477 shares in the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in shares of Axsome Therapeutics during the first quarter valued at about $51,000. 72.70% of the stock is currently owned by institutional investors.

Axsome Therapeutics Company Profile

(Get Free Report)

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.

Read More

Earnings History and Estimates for Axsome Therapeutics (NASDAQ:AXSM)

Receive News & Ratings for Axsome Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axsome Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.