Leerink Raises Axsome's EPS Forecast for FY2029 to $15.85

Summary

Leerink Partners has increased its 2029 EPS estimate for Axsome Therapeutics (NASDAQ: AXSM) from $15.40 to $15.85. The consensus earnings estimate for the current year is -$2.79 per share. Despite a recent 1.6% stock price decline, Axsome’s market capitalization is $5.37 billion with a P/E ratio of -18.89. Insider selling by the COO and a director has been noted. Market Beat

Impact Analysis

The event is at the company level, focusing on Axsome Therapeutics. The upward revision of the 2029 EPS estimate suggests positive long-term expectations for Axsome’s profitability. The current negative P/E ratio and the recent insider selling might raise concerns about the company’s short-term prospects or investor sentiment. The fact that multiple analysts have positive ratings and a high average price target ($172.33) indicates potential growth perceived by the market, presenting an investment opportunity. However, investors should be wary of the insider selling and consider the market reaction to the stock’s recent decline. Market Beat