Shares of AXSM are trading 26% higher on FDA approval

Shares of Axsome Thera (AXSM) are trading 26% higher at a price of $53.59 at the time of this writing. While the Health Care sector is having a cheery day in general, the company is strongly outperforming it's peers.

While it's possible the price is moving on bullish sentiment on the heels of the recent earnings call 10 days ago, we think it's more likely that it's moving on news it's depression line of drugs got approval from the FDA.

Axsome Thera has been trading between a 52-week high of $54.38 and a 52-week low of $19.38. The stock has a market cap of $2.09 Billion.

Axsome Therapeutics, Inc. is a biopharmaceutical company developing novel therapies for the management of central nervous system (CNS) disorders for which there are limited treatment options. For the many people facing unsatisfactory treatments for CNS disorders, Axsome accelerates the invention and adoption of life-changing medicines.