AXSM - Got $5000? These 2 Stocks Could Be Bargain Buys for 2023 and Beyond
2023-08-03 09:45:00 ET
The stock market is roaring back in 2023 following a downturn. However, the year hasn't been kind to every company. For instance, drugmakers AbbVie (NYSE: ABBV) and Axsome Therapeutics (NASDAQ: AXSM) have seen their shares lag the market since January.
Still, there is some good news for investors. Both companies have excellent prospects that could lead to equally excellent returns over the long run. For investors with a spare $5,000 that isn't being saved for emergencies or everyday bills, investing that money in these stocks could be a great move.
AbbVie's shares are down by 7% since the year started as the company is dealing with arguably its most significant headwind since it became a stand-alone company in 2013. The drugmaker lost patent exclusivity for its blockbuster immunology drug, Humira. Considering how lucrative Humira was -- it peaked at annual sales of $21.2 billion -- many biosimilar specialists are trying to get a slice of the pie. AbbVie's shares should decline until next year, according to the company's CEO, Richard Gonzalez.
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Got $5,000? These 2 Stocks Could Be Bargain Buys for 2023 and Beyond