Brokerages Anticipate Axsome Therapeutics Inc (NASDAQ:AXSM) Will Announce Earnings of -$0.38 Per Share

Wall Street brokerages expect that Axsome Therapeutics Inc (NASDAQ:AXSM) will post ($0.38) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Axsome Therapeutics’ earnings, with the lowest EPS estimate coming in at ($0.40) and the highest estimate coming in at ($0.37). Axsome Therapeutics posted earnings of ($0.32) per share in the same quarter last year, which would suggest a negative year over year growth rate of 18.8%. The business is scheduled to issue its next quarterly earnings report on Thursday, March 12th.

According to Zacks, analysts expect that Axsome Therapeutics will report full year earnings of ($1.49) per share for the current fiscal year, with EPS estimates ranging from ($1.54) to ($1.38). For the next financial year, analysts forecast that the business will report earnings of ($1.37) per share, with EPS estimates ranging from ($1.72) to ($0.85). Zacks’ earnings per share averages are an average based on a survey of research analysts that cover Axsome Therapeutics.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Thursday, November 7th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.15).

Several equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, October 7th. William Blair began coverage on shares of Axsome Therapeutics in a research report on Wednesday, September 18th. They set an “outperform” rating and a $48.00 price objective for the company. BidaskClub upgraded shares of Axsome Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, October 26th. ValuEngine upgraded shares of Axsome Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Finally, Guggenheim started coverage on shares of Axsome Therapeutics in a research report on Wednesday, October 16th. They set a “buy” rating and a $48.00 price objective for the company. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $35.13.

In related news, CFO Nick Pizzie purchased 2,180 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was acquired at an average cost of $24.80 per share, for a total transaction of $54,064.00. Following the completion of the transaction, the chief financial officer now directly owns 40,440 shares in the company, valued at $1,002,912. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 27.50% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of Axsome Therapeutics by 263.1% during the second quarter. BlackRock Inc. now owns 1,690,522 shares of the company’s stock valued at $43,531,000 after acquiring an additional 1,224,935 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Axsome Therapeutics by 155.3% in the second quarter. Northern Trust Corp now owns 90,263 shares of the company’s stock valued at $2,325,000 after purchasing an additional 54,905 shares during the period. Athanor Capital LP purchased a new position in shares of Axsome Therapeutics in the second quarter valued at approximately $237,000. Swiss National Bank purchased a new position in shares of Axsome Therapeutics in the second quarter valued at approximately $1,115,000. Finally, Allianz Asset Management GmbH purchased a new position in shares of Axsome Therapeutics in the second quarter valued at approximately $1,735,000. Institutional investors and hedge funds own 53.09% of the company’s stock.

Shares of AXSM traded up $2.19 during mid-day trading on Wednesday, hitting $25.46. The company’s stock had a trading volume of 738,300 shares, compared to its average volume of 1,457,869. The company’s 50-day moving average is $22.15 and its 200-day moving average is $23.50. Axsome Therapeutics has a 52-week low of $1.94 and a 52-week high of $30.50. The firm has a market capitalization of $889.38 million, a price-to-earnings ratio of -22.14 and a beta of 2.61. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 0.72.

Axsome Therapeutics Company Profile

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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