HC Wainwright Has Negative Outlook for AXSM Q2 Earnings

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Equities researchers at HC Wainwright reduced their Q2 2026 earnings per share (EPS) estimates for shares of Axsome Therapeutics in a note issued to investors on Tuesday, May 5th. HC Wainwright analyst R. Selvaraju now forecasts that the company will post earnings of ($0.99) per share for the quarter, down from their previous estimate of ($0.41). HC Wainwright currently has a “Buy” rating and a $290.00 price target on the stock. The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($1.19) per share. HC Wainwright also issued estimates for Axsome Therapeutics’ Q3 2026 earnings at ($0.91) EPS, Q4 2026 earnings at ($0.74) EPS, FY2026 earnings at ($3.89) EPS, Q1 2027 earnings at $0.05 EPS, Q2 2027 earnings at $1.30 EPS, Q3 2027 earnings at $2.30 EPS, Q4 2027 earnings at $2.81 EPS and FY2027 earnings at $6.47 EPS.

AXSM has been the topic of a number of other research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $272.00 price objective on shares of Axsome Therapeutics in a report on Monday. Mizuho increased their price objective on Axsome Therapeutics from $228.00 to $310.00 and gave the company an “outperform” rating in a report on Tuesday. Jefferies Financial Group increased their price objective on Axsome Therapeutics from $245.00 to $275.00 and gave the company a “buy” rating in a report on Monday. Wolfe Research initiated coverage on Axsome Therapeutics in a report on Monday, February 23rd. They issued an “outperform” rating and a $230.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Axsome Therapeutics in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Axsome Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $251.26.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM opened at $222.63 on Thursday. Axsome Therapeutics has a 1-year low of $96.09 and a 1-year high of $234.29. The company has a market cap of $11.46 billion, a price-to-earnings ratio of -59.69 and a beta of 0.59. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.48. The stock’s 50-day moving average is $172.69 and its two-hundred day moving average is $164.03.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.41). The firm had revenue of $191.20 million during the quarter, compared to analysts’ expectations of $191.10 million. Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The company’s revenue was up 57.4% on a year-over-year basis.

Institutional Trading of Axsome Therapeutics

A number of large investors have recently made changes to their positions in AXSM. Vanguard Group Inc. raised its stake in shares of Axsome Therapeutics by 6.0% during the 3rd quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company’s stock worth $507,739,000 after buying an additional 235,626 shares in the last quarter. Franklin Street Advisors Inc. NC purchased a new position in shares of Axsome Therapeutics during the 4th quarter worth approximately $1,826,000. Aberdeen Group plc raised its stake in shares of Axsome Therapeutics by 15.5% during the 3rd quarter. Aberdeen Group plc now owns 94,648 shares of the company’s stock worth $11,495,000 after buying an additional 12,732 shares in the last quarter. TD Asset Management Inc raised its stake in shares of Axsome Therapeutics by 107.7% during the 3rd quarter. TD Asset Management Inc now owns 44,192 shares of the company’s stock worth $5,367,000 after buying an additional 22,914 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its stake in shares of Axsome Therapeutics by 20.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 436,063 shares of the company’s stock worth $79,643,000 after buying an additional 73,925 shares in the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Axsome Therapeutics

In related news, insider Ari Maizel sold 7,500 shares of the company’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $182.42, for a total value of $1,368,150.00. Following the completion of the sale, the insider directly owned 7,500 shares of the company’s stock, valued at $1,368,150. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Mark L. Jacobson sold 233 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $228.18, for a total value of $53,165.94. Following the completion of the sale, the chief operating officer directly owned 4,517 shares of the company’s stock, valued at approximately $1,030,689.06. This trade represents a 4.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 72,628 shares of company stock valued at $12,205,662 in the last three months. 20.60% of the stock is currently owned by company insiders.

Key Stories Impacting Axsome Therapeutics

Here are the key news stories impacting Axsome Therapeutics this week:

• Positive Sentiment: Strong commercial traction — Axsome reported Q1 product revenue of $191.2M, up ~57% year‑over‑year driven by AUVELITY and SUNOSI, which supports the company’s growth narrative and near‑term cash generation. Read More.
• Positive Sentiment: Analyst optimism and price‑target lifts — multiple firms raised targets (notably Mizuho to $310, Wells Fargo to $255, Baird and others), and coverage remains skewed positive, which can support upside momentum and bid interest. Read More.
• Neutral Sentiment: Management outreach scheduled — Axsome will participate in May investor conferences (including a BofA fireside chat), offering additional investor access but uncertain immediate impact. Read More.
• Neutral Sentiment: Earnings detail and call transcript available — analysts are parsing the conference call and guidance implications; deeper read may resolve questions around sales cadence and expense trajectory. Read More.
• Negative Sentiment: Profitability miss — GAAP EPS of ($1.26) missed consensus (~$0.85 loss), and negative margins/ROE highlight near‑term profitability and cost structure concerns despite revenue strength. Read More.
• Negative Sentiment: Insider selling — COO Mark Jacobson disclosed sales (large blocks on May 4 and a smaller sale May 5), which may raise short‑term sentiment questions even though filers report remaining holdings. Read More.
• Negative Sentiment: Durability concerns — some analysts/commentators question sequential product sales trends and achievability of peak revenue assumptions, which could temper multiple expansion absent clearer margin improvements. Read More.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.