2 Top Biotech Stocks to Buy Right Now
So far in 2021, shareholders of Novavax (NASDAQ: NVAX) and Axsome Therapeutics (NASDAQ: AXSM) have had radically different returns. Novavax owners have watched their stock crush the market as the share price has run up 112% this year. Axsome shareholders, on the other hand, have been disappointed as the stock has dropped 25% over the last few months.
This is a replay of what we saw in 2020. Novavax, which is still working on a COVID-19 vaccine, rose 2,700% in 2020. Axsome, on the other hand, has no pharmaceuticals to prevent or treat COVID-19 -- it's focused on medicine for depression and migraines. And like a lot of biotechs, its clinical progress has stalled somewhat because of lockdown delays. Axsome's stock dropped over 20% last year.
Over the past week of trading, however, both stocks have started shooting higher. What's going on? It's definitely got something to do with the market getting bullish about regulatory news and possible approvals on the horizon. Here's why people are buying shares of Novavax and Axsome Therapeutics right now, and why you should too.
Source Fool.com
