Axsome Therapeutics Inc (NASDAQ:AXSM) Expected to Announce Earnings of -$0.45 Per Share

Wall Street brokerages predict that Axsome Therapeutics Inc (NASDAQ:AXSM) will post earnings of ($0.45) per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Axsome Therapeutics’ earnings, with the highest EPS estimate coming in at ($0.37) and the lowest estimate coming in at ($0.50). Axsome Therapeutics posted earnings of ($0.32) per share during the same quarter last year, which would suggest a negative year over year growth rate of 40.6%. The firm is scheduled to issue its next earnings results on Thursday, March 12th.

On average, analysts expect that Axsome Therapeutics will report full-year earnings of ($1.70) per share for the current financial year, with EPS estimates ranging from ($1.80) to ($1.49). For the next financial year, analysts expect that the firm will post earnings of ($1.40) per share, with EPS estimates ranging from ($1.75) to ($0.85). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that cover Axsome Therapeutics.

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

A number of research analysts have recently commented on the stock. BidaskClub raised shares of Axsome Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 20th. Guggenheim initiated coverage on Axsome Therapeutics in a research report on Wednesday, October 16th. They set a “buy” rating and a $48.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Axsome Therapeutics in a research note on Thursday, October 17th. BTIG Research upped their price target on Axsome Therapeutics to $48.00 and gave the company a “positive” rating in a report on Wednesday. Finally, SunTrust Banks raised their price objective on Axsome Therapeutics to $60.00 and gave the stock a “positive” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $42.67.

Shares of NASDAQ:AXSM traded up $1.84 during midday trading on Friday, hitting $47.46. The company’s stock had a trading volume of 1,066,246 shares, compared to its average volume of 941,955. The company has a debt-to-equity ratio of 2.80, a quick ratio of 2.39 and a current ratio of 2.39. The stock’s 50 day simple moving average is $27.72 and its 200 day simple moving average is $25.21. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -41.27 and a beta of 2.84. Axsome Therapeutics has a fifty-two week low of $1.94 and a fifty-two week high of $47.24.

In other Axsome Therapeutics news, CFO Nick Pizzie bought 2,180 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were acquired at an average cost of $24.80 per share, for a total transaction of $54,064.00. Following the transaction, the chief financial officer now owns 40,440 shares in the company, valued at $1,002,912. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 27.50% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the stock. Quantitative Systematic Strategies LLC bought a new stake in Axsome Therapeutics during the second quarter worth about $257,000. Virginia Retirement Systems ET AL acquired a new position in Axsome Therapeutics in the second quarter worth $379,000. Moody Aldrich Partners LLC bought a new stake in shares of Axsome Therapeutics during the second quarter worth $1,843,000. SG Americas Securities LLC bought a new stake in shares of Axsome Therapeutics during the second quarter worth $167,000. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Axsome Therapeutics by 56.6% during the second quarter. Janney Montgomery Scott LLC now owns 27,525 shares of the company’s stock worth $709,000 after purchasing an additional 9,950 shares during the last quarter. Institutional investors and hedge funds own 54.64% 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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