January 10, 2005
SpeculatingStocks.com Stock Pick: Axonyx, Inc. (AXYX)
Stock Price: $5.90 (long-term strong buy)
Axonyx, Inc. is a U.S.-based biopharmaceutical company engaged in the acquisition and development of proprietary pharmaceutical compounds for the treatment of Central Nervous System disorders.
Axonyx announced in late December that its Alzheimer's disease drug candidate Phenserine completed its Phase III clinical trial. The next several weeks will be used to analyze the data and results will be presented by March. If the results are positive, AXYX could become one of the major biopharmaceutical plays of this year.
The company has over $87 million in cash to launch Phenserine if and when the time comes.
AXYX has begun to trend up again after falling from $7.50. Its is a great time to accumulate AXYX.
SpeculatingStocks.com Target Price: We expect AXYX to run above $10.00 by March on speculation of positive results from the Phenserine clinical trial.