AXSM - 2 Reasons to Buy Axsome Therapeutics and 1 Reason to Sell
The bear market hasn't dragged down Axsome Therapeutics (NASDAQ: AXSM) . The biotech company specializes in treating central nervous system conditions. And it's been on a roll with good news -- and share performance -- in recent weeks. Axsome has climbed 167% from a low in June. That gives it a 53% gain for the year so far.
Axsome's status as a commercial stage company is pretty new. It acquired a treatment for sleep disorders this spring -- and it's also getting ready to commercialize a potential blockbuster drug for major depressive disorder (MDD). Axsome has reached an exciting moment in its story. Does that mean it's time to invest in the stock? Two things point to yes. And one thing indicates it might be time to sell. Let's check them out.
Well, one of the drugs isn't exactly new. Jazz Pharmaceuticals sold Sunosi to Axsome this year. But it's new to Axsome's portfolio -- and it represents Axsome's first commercialized product.
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2 Reasons to Buy Axsome Therapeutics, and 1 Reason to Sell