Corcept's (CORT) Cushing's syndrome drug, Korlym, is witnessing higher sales and a strong uptake since its approval. Other pipeline candidates are also advancing well.
Thanks to the Federal Reserve's mission to control inflation by hiking interest rates, investor sentiment for companies that might need to borrow money is incredibly poor -- and that makes biotech stocks an even riskier investment than usual. Axsome Therapeutics (NASDAQ: AXSM) is up by more than 127% in the last 12 months, and there might be another growth spurt in the works. This year, it went from having zero products on the market to having two: Sunosi for narcolepsy and Auvelity for major depressive disorder (MDD).
Big technology companies aren't always the portfolio winners that they're cracked up to be. Down by 28% over the past 12 months, shares of Amazon (NASDAQ: AMZN) are performing even worse than the market's decline of 13% in the same period. Jazz Pharmaceuticals (NASDAQ: JAZZ) is up 14.6% in the last 12 months, and the drugmaker is beating Amazon because its portfolio of medications on the market will be ramping up sales in the near future.