AXSM - 2 Top Biotech Stocks Defying the Bear Market
With the market dropping by more than 17% so far this year and the industry-tracking SPDR S&P Biotech ETF down by a brutal 27%, it's safe to say that conditions are looking quite bearish at the moment. Thanks to the Federal Reserve's mission to control inflation by hiking interest rates, investor sentiment for companies that might need to borrow money is incredibly poor -- and that makes biotech stocks an even riskier investment than usual.
But not every biotech is struggling, and some are actually flourishing despite the market's disfavor. In particular, here are two businesses defiantly outperforming the market as a result of their recent successes and expected future performance. If you can stomach the risk, either might make for a good investment. Here's why.
Axsome Therapeutics (NASDAQ: AXSM) is up by more than 127% in the last 12 months, and there might be another growth spurt in the works. This year, it went from having zero products on the market to having two: Sunosi for narcolepsy and Auvelity for major depressive disorder (MDD).
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2 Top Biotech Stocks Defying the Bear Market