Leerink Partnrs Has Negative Outlook of AXSM FY2028 Earnings

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Equities research analysts at Leerink Partnrs lowered their FY2028 earnings estimates for Axsome Therapeutics in a report released on Friday, February 21st. Leerink Partnrs analyst M. Goodman now expects that the company will post earnings per share of $9.30 for the year, down from their previous estimate of $9.70. The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($2.79) per share. Leerink Partnrs also issued estimates for Axsome Therapeutics’ FY2029 earnings at $16.05 EPS.

A number of other research firms have also issued reports on AXSM. Wells Fargo & Company increased their target price on Axsome Therapeutics from $140.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $153.00 price objective on shares of Axsome Therapeutics in a research report on Wednesday, February 19th. Leerink Partners boosted their target price on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. William Blair reaffirmed an “outperform” rating on shares of Axsome Therapeutics in a report on Tuesday, February 18th. Finally, Bank of America boosted their price objective on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $158.79.

Axsome Therapeutics Trading Down 2.8 %

NASDAQ:AXSM opened at $127.09 on Monday. The business’s 50-day moving average is $102.78 and its two-hundred day moving average is $95.62. The firm has a market capitalization of $6.20 billion, a PE ratio of -21.22 and a beta of 1.05. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $139.13. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.01. The company had revenue of $118.77 million during the quarter, compared to analyst estimates of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%.

Insider Transactions at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the sale, the chief financial officer now owns 42,187 shares in the company, valued at $5,529,450.09. This represents a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Boxer Capital Management LLC bought a new stake in shares of Axsome Therapeutics in the 4th quarter worth approximately $39,767,000. Lazard Asset Management LLC increased its position in Axsome Therapeutics by 525.7% in the fourth quarter. Lazard Asset Management LLC now owns 537,669 shares of the company’s stock worth $45,492,000 after buying an additional 451,737 shares during the period. Norges Bank bought a new stake in Axsome Therapeutics in the fourth quarter valued at $34,100,000. BVF Inc. IL lifted its stake in Axsome Therapeutics by 32.7% in the fourth quarter. BVF Inc. IL now owns 1,388,064 shares of the company’s stock valued at $117,444,000 after buying an additional 342,064 shares during the last quarter. Finally, Iron Triangle Partners LP acquired a new position in shares of Axsome Therapeutics during the third quarter valued at $22,671,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.