AXSM - Axsome Therapeutics Stock: Bear vs. Bull
With shares of Axsome Therapeutics (NASDAQ: AXSM) skyrocketing 87% so far this year, the biotech's shareholders are doubtlessly pleased. Thanks to a pair of newly approved products, growth is finally on the way -- with revenue set to go from practically $0 to more than $100 million in the course of a year.
But has the market already priced in the expected sales gains, and is the stock valued at a level where investors should be comfortable buying it? Let's answer these questions by looking at the bull case for the stock, and then contrast that with the bears' outlook to see which argument makes more sense.
The bull thesis for Axsome is that it's going to have a lot of new revenue coming online in 2023, which the company will then build upon over the years that follow. Considering that it made $0 in sales during 2021 and $16.8 million in Q3, there's reason to believe the bulls are correct.
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Axsome Therapeutics Stock: Bear vs. Bull