Axsome Therapeutics (NASDAQ: AXSM) has made waves in the biopharmaceutical industry with their development of novel therapies for central nervous system (CNS) disorders. The company opened at a share price of $88.56 on Thursday, June 22, 2023 and has since been making headlines for its impressive quick ratio of 2.95, current ratio of 3.02, and debt-to-equity ratio of 1.32.
In addition to these strong financial metrics, Axsome Therapeutics boasts a market cap of $3.86 billion, a PE ratio of -23.31, and a beta of 1.92. The company’s stock price has steadily risen over the past year, with a 52 week high of $88.93 and a low of $22.01.
Several research firms have weighed in on their outlook for Axsome Therapeutics, with HC Wainwright giving the company a “buy” rating and setting a target price of $200 per share in April 2023. Other firms such as Guggenheim, StockNews.com, Morgan Stanley, and Mizuho have also expressed positivity towards the company’s future prospects.
Despite some analysts assigning a “hold” rating or even a rare “sell” rating to Axsome Therapeutics’ stock, the general consensus seems to be that the company is headed in the right direction with its CNS disorder therapies.
Axsome Therapeutics’ commercial product portfolio currently includes Auvelity (dextromethorphan-bupropion) for major depressive disorder treatment and Sunosi (solriamfetol) for excessive daytime sleepiness associated with narcolepsy or obstructive sleep apnea.
The company recently reported strong Q1 earnings on Monday, May 8th with revenue reaching $94.58 million compared to analyst estimates of $26.87 million for the quarter. Despite reporting a negative net margin of 109.75% and negative return on equity of 152.04%, Axsome Therapeutics exceeded expectations with an EPS of ($0.22) per share, beating the consensus estimate of ($1.13) by $0.91.
Axsome Therapeutics is making strides in the biopharmaceutical industry with their innovative CNS disorder therapies and strong financial performance. As the company continues to develop new treatments, investors are keeping an eye on their stock price and future growth potential.
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Axsome Therapeutics Sees Increase in Earnings Estimates and Investor Confidence
Axsome Therapeutics, a biopharmaceutical company that specializes in developing drugs to treat central nervous system disorders, has recently seen an increase in the earnings estimates for the third quarter of 2024 by Zacks Research analysts. The change comes after a research note issued on June 19th, in which analyst A. Chakraborty predicted that Axsome would post ($0.83) per share for the quarter rather than their previous forecast of ($0.86).
Although it may seem insignificant, this adjustment speaks to the growing confidence among investors and analysts in Axsome’s ability to succeed in an increasingly competitive market. It is worth noting that the consensus estimate for Axsome Therapeutics’ current full-year earnings is ($3.84) per share, meaning that despite some volatility in individual quarters, overall projections remain positive.
Indeed, several large investors have made changes to their positions in AXSM over recent months which also suggests that confidence is high amongst those with a significant stake in the business. JPMorgan Chase & Co., for instance, boosted its holdings by 0.5% during the first quarter and now owns 176,086 shares of Axsome Therapeutics stock worth $7.2 million – a clear indication of its faith in the company’s future performance.
Similarly encouraging news came from MetLife Investment Management LLC who recently boosted their holdings by 59% and now own 17,348 shares of stock worth $718k – significantly more than their previous holding of just over 11 thousand shares.
In conclusion, there is significant interest and support behind Axsome Therapeutics as they continue to advance their pipeline targeting various CNS indications such as major depressive disorder and migraines through Phase III trials with expected top-line data readouts anticipated this year.
As such it paints a picture of potential growth for Axsome Therapeutics provided government regulators grant them FDA approval allowing continued development into new markets over time under a strong and capable guidance of the CEO Uphold.