Axsome Therapeutics Inc (AXSM)

[georgejjl]

A rising star in the biotech industry
Prosper Junior Bakiny (Axsome Therapeutics): Sporting a market cap of just $3.3 billion, Axsome Therapeutics is a relatively small and unknown drugmaker. But it would be unwise to ignore this biotech just because of its size. In fact, the market has yet to factor Axsome Therapeutics' full potential into its share price, which makes the stock a no-brainer buy right now.

Over the next year, Axsome expects two phase 3 data readouts, two late-stage study initiations, and two regulatory submissions. These catalysts could send the stock price soaring if all goes according to plan. More importantly, though, Axsome Therapeutics is building a solid portfolio that could drive top-line growth for years.

Right now, the company's lineup includes just Auvelity, a medicine for depression, and Sunosi, which targets daytime sleepiness in narcolepsy patients. Within the next five years, Axsome plans to add label expansions to Auvelity in treating Alzheimer's disease agitation and Sunosi as a treatment for attention-deficit/hyperactivity disorder (ADHD).

That's in addition to three potential new products, AXS-07, AXS-12, and AXS-14. These investigational medicines target migraine, narcolepsy, and fibromyalgia, respectively. Axsome estimates that its late-stage portfolio addresses diseases with a patient population of over 60 million people in the U.S.

The biotech is still in the early innings of its growth story, which could last long before it runs into patent cliffs for any of its lineup and pipeline products. That's why, despite significantly outperforming the market in the past 12 months, Axsome Therapeutics remains an excellent stock to buy and hold for investors.

https://www.fool.com/investing/2023/06/10/3-no-brainer-stocks-to-buy-in-june/

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