5 Biotech Stocks Popular On Reddit

3. Axsome Therapeutics, Inc. (NASDAQ: AXSM)

Number of Hedge Fund Holders: 17

Price as of August 16: $21.22

Axsome Therapeutics, Inc. (NASDAQ: AXSM) ranks 3rd on the list of 11 biotech stocks popular on Reddit. The New York-based biotech firm develops treatments for central nervous system disorders including Alzheimer’s disease and depression. 

On August 10, Truist analyst Joon Lee maintained a Buy rating and a $160 price target on Axsome Therapeutics, Inc. (NASDAQ: AXSM).

The company has a market cap of $799 million. In the second quarter of 2021, Axsome Therapeutics, Inc. (NASDAQ: AXSM) reported an EPS of -$0.86, beating estimates by $0.02. At the end of the second quarter, Axsome Therapeutics, Inc. (NASDAQ: AXSM) had a cash balance of $141.2 million. 

At the end of the first quarter of 2021, 17 hedge funds in the database of Insider Monkey held stakes worth $354 million in Axsome Therapeutics, Inc. (NASDAQ: AXSM), down from 22 in the preceding quarter worth $523 million.