2 Under-the-Radar Stocks to Buy and Hold
Artificial intelligence-focused companies are garnering significant attention on Wall Street. That makes sense. Some of the leaders in this industry are posting excellent financial results and could make their shareholders much richer in the long run. However, there are also exciting investment opportunities in other industries, such as biotech. Two biotech stocks I think look fairly attractive right now — despite not being particularly popular, at least compared to top AI players — are Axsome Therapeutics (NASDAQ:AXSM) and Exelixis (NASDAQ:EXEL). Here’s why.
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Axsome Therapeutics focuses on developing medicines for central nervous system conditions. The company’s most important drug is Auvelity, which is indicated to treat major depressive disorder and Alzheimer’s disease agitation. In the second quarter, Auvelity’s sales grew by 51% year over year to $180.3 million. Axsome’s total revenue was $218.4 million, up 46% compared to the year-ago period. So, Auvelity alone accounted for about 82.6% of the company’s revenue. And the medicine’s sales should get a significant boost in the next few quarters. The AD agitation indication is still new — Auvelity won that approval in April.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.