Here's Why Axsome Therapeutics Fell 20.4% in the First Half of 2020
Shares of Axsome Therapeutics (NASDAQ: AXSM) declined more than 20% in the first six months of the year, according to data provided by S&P Global Market Intelligence. The plunge was significantly worse than the 4% drop of the S&P 500 in that span, but investors shouldn't be too alarmed.
The stock's poor performance thus far in 2020 can be chalked up to two factors. First (and primarily), the stock ended 2019 at an all-time high, which suggests shares are simply cooling off a bit. Second, Axsome Therapeutics announced mixed results for its lead drug candidate in an important clinical trial. Can the pharma stock rebound before the end of the year?
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Source Fool.com