Brokerages Expect Axsome Therapeutics Inc (NASDAQ:AXSM) Will Announce Earnings of -$0.32 Per Share

Wall Street brokerages expect that Axsome Therapeutics Inc (NASDAQ:AXSM) will post earnings per share (EPS) of ($0.32) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Axsome Therapeutics’ earnings. The lowest EPS estimate is ($0.36) and the highest is ($0.29). Axsome Therapeutics reported earnings per share of ($0.31) during the same quarter last year, which would suggest a negative year-over-year growth rate of 3.2%. The company is expected to report its next quarterly earnings report on Friday, November 8th.

On average, analysts expect that Axsome Therapeutics will report full-year earnings of ($1.29) per share for the current financial year, with EPS estimates ranging from ($1.37) to ($1.17). For the next year, analysts expect that the firm will post earnings of ($1.24) per share, with EPS estimates ranging from ($1.70) to ($0.84). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that cover Axsome Therapeutics.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.10).

Several research firms have commented on AXSM. ValuEngine cut shares of Axsome Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Cantor Fitzgerald reiterated an “overweight” rating and set a $35.00 price target (up previously from $25.00) on shares of Axsome Therapeutics in a report on Tuesday, May 28th. Zacks Investment Research upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. HC Wainwright set a $30.00 price target on shares of Axsome Therapeutics and gave the stock a “buy” rating in a report on Monday, June 24th. Finally, SunTrust Banks began coverage on shares of Axsome Therapeutics in a report on Tuesday, May 28th. They set a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $30.83.

NASDAQ AXSM traded down $0.04 on Tuesday, hitting $25.46. 465,027 shares of the stock were exchanged, compared to its average volume of 773,198. The company has a current ratio of 5.68, a quick ratio of 5.68 and a debt-to-equity ratio of 1.08. Axsome Therapeutics has a fifty-two week low of $1.94 and a fifty-two week high of $28.70. The firm has a market cap of $849.28 million, a P/E ratio of -22.14 and a beta of 2.64. The firm has a 50-day simple moving average of $25.75.

In related news, Director Mark Coleman bought 4,650 shares of the stock in a transaction dated Monday, May 13th. The stock was acquired at an average price of $21.44 per share, for a total transaction of $99,696.00. Following the acquisition, the director now owns 652,648 shares in the company, valued at approximately $13,992,773.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Nick Pizzie bought 1,920 shares of the stock in a transaction dated Tuesday, June 11th. The stock was bought at an average price of $20.80 per share, with a total value of $39,936.00. Following the acquisition, the chief financial officer now owns 1,920 shares in the company, valued at approximately $39,936. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 10,470 shares of company stock valued at $227,087. Company insiders own 27.50% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Focused Wealth Management Inc acquired a new position in shares of Axsome Therapeutics in the 1st quarter valued at $64,000. Millennium Management LLC acquired a new stake in Axsome Therapeutics during the 4th quarter worth $871,000. EAM Global Investors LLC acquired a new stake in Axsome Therapeutics during the 1st quarter worth $1,211,000. Barclays PLC acquired a new stake in Axsome Therapeutics during the 4th quarter worth $30,000. Finally, BlackRock Inc. boosted its stake in Axsome Therapeutics by 14.6% during the 4th quarter. BlackRock Inc. now owns 64,049 shares of the company’s stock worth $181,000 after purchasing an additional 8,137 shares during the period. Institutional investors and hedge funds own 44.54% of the company’s stock.

About Axsome Therapeutics

Axsome Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in developing novel therapies for central nervous system (CNS) disorders in the United States. Its product pipeline includes AXS-05, which is in the Phase III clinical trial for the treatment resistant depression; Phase II/III clinical trials in agitation associated with Alzheimer's disease; and Phase II clinical trial for the treatment of smoking cessation, as well as for major depressive disorder.

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