Analysts Think Axsome Therapeutics Stock Could Soar 35% Over the Next 12 Months. Is the Stock a No-Brainer Buy?
Or are its best days in the rearview mirror?
Overview
Axsome Therapeutics (NASDAQ: AXSM) has been a great stock to own over the past five years. The company's shares have climbed by about 660%. However, Wall Street remains excited about the company's prospects. Axsome Therapeutics' average price target (according to Yahoo! Finance) is $285.42, implying a 35% upside from its current level. Could the stock really gain that much over the next 12 months?
Image source: The Motley Fool.
Axsome Therapeutics is posting solid financial results. In the second quarter, the company's revenue increased by 46% year over year to $218.4 million. The biotech's most important growth driver by far is Auvelity, a depression medicine. Second-quarter Auvelity sales came in at $180.3 million, 51% higher than the year-ago period. Auvelity recently earned a label expansion in Alzheimer's disease (AD) agitation, an indication that adds millions of patients in an underserved and growing therapeutic area to its addressable market.
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Originally published at www.fool.com.