|Bid||87.51 x 1400|
|Ask||89.19 x 1000|
|Day's Range||87.38 - 91.15|
|52 Week Range||7.63 - 109.94|
|Beta (5Y Monthly)||3.41|
|PE Ratio (TTM)||N/A|
|Earnings Date||Mar 11, 2020 - Mar 15, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||144.57|
Axsome Therapeutics, Inc. (AXSM), a clinical-stage biopharmaceutical company developing novel therapies for the management of central nervous system (CNS) disorders, today announced the completion of patient randomization in the STRIDE-1 study, a Phase 3, randomized, double-blind, active-controlled trial of AXS-05 in patients with treatment resistant depression (TRD). AXS-05 (dextromethorphan/bupropion modulated delivery tablet) is a novel, oral, investigational NMDA receptor antagonist with multimodal activity. STRIDE-1 (Symptom Treatment in Resistant Depression 1) is a Phase 3, randomized, double-blind, active controlled trial to assess the efficacy and safety of AXS-05 in the treatment of treatment resistant depression (TRD).
ACADIA's (ACAD) only marketed drug Nuplazid registers strong sales in 2019. The drug's label expansion efforts also look promising with several studies currently underway for various CNS disorders.
Agreement accelerates ongoing clinical development of AXS-12 (reboxetine) in narcolepsy Expands Axsome’s pipeline with new Phase 3-stage esreboxetine product candidate for.
Small cap stocks are listed companies that have market capitalizations ranging from $300 million to $2 billion. Since the share prices of these companies can have big fluctuations over a short period of time, companies with market caps of up to $10 billion are also found in the small cap universe. Some of the stocks classified as small cap include cloud computing business Fastly Inc. (FSLY), fitness and wellness company Tivity Health Inc (TVTY), and gaming firm Century Casinos Inc. (CNTY).
Broadly speaking, drug stocks have been some of the strongest performing names in the latter part of 2019.Since October 2019, the iShares NASDAQ Biotechnology ETF (NASDAQ:IBB) has rallied from a low of $96 to nearly $124. The SPDR S&P Biotech ETF (NYSE:XBI) exploded from $75 to a high of $98.79. Even ProShares Ultra NASDAQ Biotechnology (NASDAQ:BIB) popped from a low of $41 to a high of nearly $65.All despite concerns over potential changes to drug pricing policies with elections ahead.InvestorPlace - Stock Market News, Stock Advice & Trading Tips"While we get the sense that biotech investors are cautious into 2020 with the election and broader macro concerns, we believe that macro issues are unlikely to have material fundamental impact," says Credit Suisse's Evan Seigerman.Wedbush analysts argue, "The fundamentals of the sector look strong. Biotech surged in the third quarter, approvals from the Food & Drug Administration are coming through above the average annual rate, the valuation of large-cap biotechs are attractive, and there have been significant mergers and acquisitions in past years."Plus, one of the biggest catalysts for future growth are the millions of retiring baby boomers.We're also seeing new, innovative treatments for a myriad of issues. In addition, such stocks are recession-proof because folks will always require medical attention. * 10 2019 Winners That Will Be 2020 Losers Here are three of the top biotech stocks to watch in the New Year. Top Drug Stocks: Fate Therapeutics (FATE)After struggling out the gate, Fate Therapeutics (NASDAQ:FATE) exploded from a low of $14 to $20 a share after posting positive trial results from its natural kill (NK) cell product candidate.With regards to data from its natural killer (NK) cell product candidate, "Current patient- and donor-specific CAR T-cell immunotherapies recognize only one antigen and fail to address the significant risk of relapse due to antigen escape. FT596 is ground-breaking in that it is designed to be available off-the-shelf for timely patient access and to promote deeper and more durable responses by targeting multiple tumor-associated antigens," said Bob Valamehr, Ph.D., Chief Development Officer of Fate Therapeutics.The company's other natural cell killer was also found to kill off cancer in a patient with acute myeloid leukemia (AML). Wells Fargo recently upgraded the FATE stock to an overweight rating with a target of $24. Axsome Therapeutics (AXSM)Axsome Therapeutics (NASDAQ:AXSM) had an explosive year. Since January 2019, AXSM stock exploded from a low of $2.64 to a recent high of $105.55. All after a series of major announcements, throughout the year. In January, for example, AXSM noted that its lead drug candidate, AXS-05 met its primary endpoint in a Phase II trial for major depressive disorder.Two months later, AXSM won FDA Breakthrough Therapy for the drug. By April, the drug also achieved its primary endpoint for smoking cessation. By December, its AXS-12 drug met its primary endpoint in a Phase II trial targeting narcolepsy.Then just two weeks ago, the AXSM stock ramped higher on news of positive late-state results for AXS-05, as a treatment of major depressive disorder. * 10 Stocks That Every 30-Year-Old Should Buy and Hold Forever "Given the documented medical need for more potent MDD therapies, and the fact that a whopping 17 million American adults suffer from this condition every year, according to the National Institutes of Health, this experimental depression med has a clear path toward blockbuster status," noted Motley Fool contributor George Budwell. Pfizer (PFE)Last year wasn't kind to Pfizer (NYSE:PFE) or its shareholders. In late July, PFE plunged 21% on company plans to combine its blockbuster drug-selling unit with Mylan (NYSE:MYL), and announced it was cutting its sales and adjusted earnings forecast.However, with a strong drug portfolio, acquisitions, and an undervalued stock, PFE is attracting interest once again. The company also just raised its dividend by 5.6%, which brings the new quarterly dividend to 38 cents from 36 cents payable March 6, 2020 to shareholders as of Jan. 31.Plus, "the valuation on new Pfizer looks appealing, given management's expectation of 6% annualized sales growth through 2025, which could produce 10%-plus yearly gains in earnings per share. New Pfizer has important patent-protected drugs like Ibrance for breast cancer and the pneumonia vaccine Prevnar, plus a strong pipeline," notes Barron's contributor Andrew Bary.As of this writing, Ian Cooper did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 2019 Winners That Will Be 2020 Losers * 5-Year Returns for 5 Dow Jones Stocks Entering 2020 * 5 Semiconductor Stocks to Buy for Big Gains In 2020 The post 3 Top Drug Stocks to Own In 2020 appeared first on InvestorPlace.
Axsome Therapeutics, Inc. (AXSM), a clinical-stage biopharmaceutical company developing novel therapies for the management of central nervous system (CNS) disorders, today announced that AXS-07, Axsome’s novel, oral, multi-mechanistic investigational medicine for the acute treatment of migraine, met the two regulatory co-primary endpoints and significantly improved migraine pain and most bothersome symptoms as compared to placebo in the MOMENTUM Phase 3 trial. AXS-07 also met the key secondary endpoint, demonstrating statistically significant superiority to the active comparator rizatriptan on sustained freedom from migraine pain.
NEW YORK, Dec. 23, 2019 -- Axsome Therapeutics, Inc. (NASDAQ: AXSM) (“Axsome” or the “Company”), a clinical-stage biopharmaceutical company developing novel therapies for the.
Getting everyone on board isn’t always easy. Whether out at a restaurant ordering a shared platter with friends, or choosing a song from a playlist, it can be challenging to reach an agreement with those around you, and mostly impossible to please everyone at the same time.Of course, there are exceptions to the rule, and even the analysts on Wall Street all reach the same conclusion at times. Common disagreements on whether a stock is over-sold or over-bought, are periodically put aside as a consensus is reached about one’s potential.The odds are even harder to beat when considering the future potential of stocks from the same sector, so when everyone is singing from the same hymn sheet, it’s time to take notice.With this in mind, we used TipRanks’ Analysts' Top Stocks tool to home in on 3 stocks in the same sector (healthcare in our case) which have received nothing but bullish shout outs in the last three months, and which, additionally, all have a Strong Buy consensus rating. Let’s get the lowdown.NextCure Inc (NXTC)This biotech, which develops new cancer drugs, has been turning heads on the Street recently.As is common in the sector, NextCure’s share price skyrocketed at the start of November following the release of promising data from early clinical trial results for its cancer treatment, NC318, an antibody targeting Siglec-15 (an immuno-suppressive protein of the tumor micro-environment). The news caused the share price to soar almost 250% in a single day. Roughly a week later, the stock crashed by over 50% in a session, following updated data which wasn’t quite as promising.These shenanigans are common in the volatile world of biotechs, and not much is to be deduced from the wild price swings following such early results. As it happens, in this case, NextCure’s pedigree is very strong.The company’s founder is Dr. Lieping Chen, Professor of Immunobiology at Yale University, and discoverer of the PD-L1/PD1 pathway, which showed that blocking the interaction between PD-1 and PD-L1 by monoclonal antibodies had a positive effect on the immune system’s ability to eliminate tumors.NextCure has other cancer treatment medicines in the pipeline, and BTIG’s Robert Hazlett sets out the bullish case for the recently listed biotech.The 5-star analyst noted, “NC318 has material promise as it modifies the activity of S15, a potent immunosuppressive protein, in the tumor microenvironment (TME). Normally S15 is expressed at very low levels, but in the TME, it is materially overexpressed, creating the potential for a meaninful immuno-oncology target, as it is present in 15-25% in NSCLC, TNBC, ovarian and head & neck cancers, providing NC318 with multi-billion dollar potential. NextCure is also employing its FIND-IO discovery platform toward developing other IO therapies.”Therefore, Hazlett initiated coverage on NextCure with a Buy rating, and set a price target of $61. As share prices surged at the end of last week, the upside potential comes in at a modest 4%. (To watch Hazlett’s track record, click here)Three other analysts tracked over the last 3 months all rate NextCure as a Buy, which collectively adds up to a Strong Buy consensus rating. The fellow analysts are even more bullish than Hazlett, as the average price target of $68.75 implies potential upside of 17%. (See NextCure stock analysis on TipRanks) Axsome Therapeutics Inc (AXSM)On to the Street’s next promising healthcare choice, and we encounter a recurring theme. Axsome therapeutics is up by over 115% in the last week, following -you guessed it- positive trial data.The CNS (central nervous system) focused biotech, released results for its experimental anti-depression drug, AXS-05, showing the treatment met the primary endpoint in a Phase 3 clinical trial. Axsome plans to submit an application to the FDA for approval of the therapy in the second half of 2020.The positive results back up a previous phase 2 trial in which AXS-05 exhibited superior efficacy compared to Bupropion for both MDD (major depressive disorder) and smoking cessation.BTIG’s Robert Hazlett also covers Axsome and reminds investors of the company’s potential. “Taken together, these data show consistent, rapid, durable, and significant anti-depressant effects of AXS-05 and de-risk AXS-05 in MDD; with additional strong results, we also modestly reduce our discount for AXS-05 in treatment resistant depression (TRD) as well… Given AXS-05’s relatively clear path to approval, consistent efficacy profile, and oral delivery, we now formally include M&A exit optionality into our valuation… We believe there is evidence that AXS-05’s broad activity at multiple CNS receptors (NMDA, Sigma-1, others) has the potential to support its use in multiple large CNS indications with peak sales potential of several billion dollars,” he said.Therefore, Hazlett reiterated his Buy recommendation on Axsome, alongside a price target of $97.A full house of 9 Buys bestows on Axsome Strong Buy status. As the average price target stands at $123.50, there is further room for growth in the shape of 23%. (See Axsome stock analysis on TipRanks) iRhythm Technologies (IRTC)Digital healthcare company, iRhythm Technologies, has had a poor 2019, with its share price losing 12% year-to-date. Looking at the bigger picture, though, the cardiac device specialist still has a lot going for it.The company’s flagship product, Zio, is a wearable patch that detects cardiac symptoms and has gained quick adoption due to ease of use and accurate data readings.iRhythm’s marketing strategy of getting a foot in the door at doctors’ offices to set up new accounts, has seen use of the Zio XT patch in diagnostic situations rise from 10% of accounts at the end of 2016 to 70% by 2018’s close. A further addition of sales representatives indicates the company will see out 2019 with as many as 140 sales reps, compared to 110 at the end of 2018, and significantly more than 2017’s 86.RBC’s Brandon Henry is with the bulls on iRhythm. The 4-star analyst noted, “We believe IRTC’s core business will continue to perform well, led by new sales rep adds, increased sales rep productivity, the full commercial launch of Zio AT (which should drive additional XT sales), and continued penetration in large integrated hospitals.”To this end, Henry reiterated an Outperform rating on the medical instrument maker, alongside a price target of $109. Should the target be met, gains of almost 79% could be in line over the next 12 months. (To watch Henry’s track record, click here)Where does the Street stand on iRhythm? The Street agrees with Henry. The cardiac device developer has a Strong Buy consensus rating, based on 3 Buy recommendations. The average target price adds 50 cents to the RBC analyst’s target and comes in at $109.50, implying handsome upside potential of 80%. (See iRhythm's price targets and analyst ratings on TipRanks)
The following is a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech stocks that hit 52-week highs Dec. 19.) Acceleron Pharma Inc (NASDAQ: XLRN ) Ardelyx ...
These four stocks are moving on news and gaining technical momentum. Axsome Therapeutics (AXSM) jumped $8.60 to $89.57 on 2.6 million shares Wednesday, more than double its average volume. On Monday the biotech company said its experimental treatment for depression met the primary endpoint in a Phase 3 clinical trial.
These four stocks are moving on news and gaining technical momentum: Axsome Therapeutics, Inc . (NASDAQ: AXSM ) jumped $8.60 to $89.57 on 2.6 million shares Wednesday, more than double its average volume. ...
The proceeds from the offering, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by Axsome, are expected to be $174.0 million. In addition, Axsome has granted the underwriters a 30-day option to purchase up to 300,000 additional shares of common stock at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on or about December 23, 2019, subject to customary closing conditions.
In addition, Axsome intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of its common stock offered in the public offering, on the same terms and conditions. Axsome intends to use the proceeds from this offering to continue to fund the ongoing clinical development of its late stage product candidates and for other general corporate purposes, including funding existing and potential new clinical programs and product candidates. The shares of common stock described above are being offered by Axsome pursuant to its shelf registration statement on Form S-3ASR previously filed and declared effective by the Securities and Exchange Commission (the “SEC”).
The following is a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech stocks that hit 52-week highs Dec. 16.) Acceleron Pharma Inc (NASDAQ: XLRN ) Amarin ...
Axsome Therapeutics, Inc. (AXSM), a clinical-stage biopharmaceutical company developing novel therapies for the management of central nervous system (CNS) disorders, has been selected for addition to the NASDAQ Biotechnology Index® (^NBI), as part of the annual index evaluation. The Company’s addition to the index will become effective prior to the market open on Monday, December 23, 2019. The NASDAQ Biotechnology Index is designed to track the performance of a set of securities listed on The Nasdaq Stock Market® that are classified as either biotechnology or pharmaceutical according to the Industry Classification Benchmark (ICB).
Shares of Axsome Therapeutics rocketed 82% in premarket trading on Monday after the biopharma company said its experimental treatment for depression met the primary endpoint in a Phase 3 clinical trial. The drug, AXS-05, is being tested in 327 adults with moderate to severe major depressive disorder. Axsome plans to submit a new drug application for the therapy to the Food and Drug Administration in the second half of 2020. "Given the known challenges of conducting trials in psychiatry, it is very encouraging to see replication of Phase 2 findings in such a robust way," Dr. Maurizio Fava, psychiatrist-in-chief at Massachusetts General Hospital, said in a news release. Analysts at SunTrust Robinson Humphrey wrote Dec. 16 that the therapy will "likely be the go-to drug for those who don't respond to first-line antidepressants," if it's approved by the FDA. Axsome's stock has gained 1,559% year-to-date. The S&P 500 is up 26%.
Demonstrated rapid, durable, and statistically significant improvement in depressive symptoms as measured by MADRS total score compared to placebo (p=0.002 on primary endpoint).
The financial regulations require hedge funds and wealthy investors that exceeded the $100 million equity holdings threshold to file a report that shows their positions at the end of every quarter. Even though it isn't the intention, these filings to a certain extent level the playing field for ordinary investors. The latest round of 13F […]