AXSM - Prediction: This Growth Stock Could Double in 2023
Biotech company Axsome Therapeutics (NASDAQ: AXSM) has had a strong -- although somewhat volatile -- year on the stock market. The company's shares have been up about 50% since early January. Axsome has key regulatory developments to thank for that performance.
What's more, the company could encounter even brighter days ahead if things go according to plan. Let's consider why Axsome Therapeutics' stock could crush the market again next year.
Axsome Therapeutics earned approval for Auvelity in August. Auvelity is a treatment for major depressive disorder (MDD). Naturally, this medicine isn't generating revenue yet, but that should change in the coming quarters as it becomes widely available across the U.S. Auvelity will help Axsome Therapeutics, a clinical-stage company at the beginning of the year, improve its financials.
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Prediction: This Growth Stock Could Double in 2023