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Axsome

Axsome Therapeutics - A Pennant Primed to RiseAxsome - NASDAQ:AXSM ✅In position since Feb 2023 with average price $50.00 per share. This is a long term 3 - 5 year hold. ✅ Current unrealized gain at 75% ✅ Stop Loss set at $63.80 for 50% of the position to ensure short term gain capture ⏳We awaiting increasing levels of volume (see the green zone). Volume moving into this zone would be ideal and demonstrate increased interest ⏳The On Balance Volume (OBV) has demonstrated that is consolidates in parallel channels and when it breaks out of them it signals price direction. We can watch the OBV for direction The chart still looks great and we are sitting in a nice profit position with short term profits guaranteed by a stop. The OBV will be key to watch. I still think this company is ripe for a buy out. Background of Axsome Therapeutics AXSM are a Small Bio-Pharma company with market cap of $4.24 Billon. In August 2022 Auvelity Anti-Depressants was FDA approved & is the only rapid-acting oral medicine for MDD with labelling describing statistically significant antidepressant efficacy by one week. AXSM received Breakthrough Therapy designation from the FDA for an Alzheimer's disease drug development and are at the NDA phase for developing a drug for acute treatment of migraine. AXSM are also developing a treatment for narcolepsy and separately for fibromyalgia. All in, AXSM's offerings are building momentum. They have developed the fastest acting anti-depressant drug and are bringing it to market, and have a four other drugs in development, all of which have a large patient base. The company would be ripe for a buyout. PUKA
NASDAQ:AXSMLong
by PukaCharts
1
Axsome Therapeutics building momentum Axsome Therapeutics Inc (AXSM) I have been in this spot trade since $50.77. We are now at $72.93. I have much higher targets as you can see from the chart. This is a long term trade looking to hold for 12 – 24 months however feel that something is going to happen within 6 – 12 months based on the chart. - Forming pennant on chart and RSI. Potential for breakout. - Steadily increasing OBV (On Balance Volume) demonstrating continued interested in the trade. - Stochastic Momentum indicator (not included on chart is driving upwards on the weekly). - You can see the orange boxes which act as accumulation zones with double bottoms before the larger move occurs. - We are above the 200 week and using it as support and we are above the 200 day also using it as support so we have limited downside with strong support. This purchase has been helped me recognized that Pharma appear to companies perform much better when the general market is in decline. They appear to be inverse risk on but also make small advances during risk on periods. It’s a market that I am becoming increasingly interested in as a diversifier and value lock. Obviously this is a smaller pharma company with higher risk in the trade, however if I was Regeneron or Johnson and Johnson and I see Axsome’s patents, drug offerings and the general population they are targeting with depression, Alzheimer’s and fibromyalgia, seems like a no brainer to buy them out. Fundamentals: AXSM are a Small Bio-Pharma company with market cap of $3.17 Billon. In August 2022 Auvelity Anti-Depressants was FDA approved & is the only rapid-acting oral medicine for MDD with labelling describing statistically significant antidepressant efficacy by one week. AXSM received Breakthrough Therapy designation from the FDA for an Alzheimer's disease drug development and are at the NDA phase for developing a drug for acute treatment of migraine. AXSM are also developing a treatment for narcolepsy and separately for fibromyalgia. All in, AXSM's offerings are building momentum. They have developed the fastest acting anti-depressant drug and are bringing it to market, and have a four other drugs in development, all of which have a large patient base. The company would be ripe for a buyout.
NASDAQ:AXSMLong
by PukaCharts
Biotechs are on fire! Gossamer and upcoming event! Biotechnology is the favorite sector of one of our analysts, most of his portfolio consists of biotechs, and he himself claims that it is the cryptocurrency of the common stock market. Why? Let's explain : High risk/reward and high volatility. Imagine this: you invest in a company that has no revenue or any specific product, yet you believe in the idea it promotes. You're taking giant risks because it's far from clear what to expect. But for that you get a great opportunity to make a quick buck. In biotech, soaring by 20%, 30%, or even 100% is the absolute norm. But you have to approach it carefully, because if you fail, the reaction can be devastating. Here is an example of successful investment in biotech companies: Axsome Therapeutics Ranks: 48. The company recently grew by more than 30% after successful results from a clinical trial of its drug to treat agitation in Alzheimer's disease. Cool? Absolutely. Our analysts have found another attractive company with a catalyst in the coming days! Its name is Gossamer Bio. Ranks: 11 Financials are really weak, the Ranks system also gives it a low rating, but the coming catalyst could immediately change everything. In the coming days, the company is expected to present the data of phase 2 of its core drug GB002. Take a closer look at the company! Biotechs are scam or great potential
NASDAQ:GOSS
by Ranksworld